Discusses financial arrangements he has made with Knox. Relates his apprehension about entering into certain types of deals with Knox.

Discusses financial matters regarding bills.

Reminds Knox that he needs a sum of money Knox owes him by 1 June. Declares that if his finances were not tightly arranged, and if his credit were not endangered, Swan would not be so insistent.

Thanks him for his last letters. Apologizes for not writing to him about private matters, but alludes to the fact that the custom in Europe (where Swan is) is for the post officers to open the mail, so he did not feel comfortable going into detail. Hopes very sincerely that Swan is able to extricate himself from financial difficulty and avail yourself of the rising prosperity of the United States. Mentions that he has been in Boston and Swan's wife and children are in perfect health. Discusses the new Constitution of the United States, explaining that the legislatures of New York and Virginia are calling for a new convention; North Carolina and Rhode Island are still debating, North Carolina calling a new state convention and Rhode Island still holding out. Discusses international trade as well.

Informs Knox that the Count Montmorin, Minister for foreign affairs here, has written Mr. Otto, charg? des affaires aupr?s le Congr?s, to use his influence with the President that the proposals of Schweizer Jeanneret & Co. should be accepted. Discusses plans for America to borrow money from Frenchmen. Notes that plans can now go forward if the terms are as favorable as borrowing from Holland. Continues discussing financial matters related to the Committe of Finance and Schweizer Jeanneret & Co.

Swan says he wrote Knox letters on 27 December 1790 and 23 and 27 January 1791. Mentions new ministers from France arriving in America. Their primary goal is to address the U.S. debt to France. Discusses how they could find 40 million dollars to pay the debt. Claims The circumstances of the finances of france, render this matter nearer at heart, than when first proposed. The deficiency in the Revenue with the expence, was not then known: it is now severely felt. Says if there ever was a moment the U.S. could help France, this is it. Claims borrowing from Amsterdam is not cheap at the moment. Mentions speaking about details of other schemes to borrow money with William Short. Continues letter on 10 June. Gives latest on borrowing possibilities and suggests getting money from Holland would be best. Postscript mentions that Gouverneur Morris received letters from America that objected to his posting as a diplomat in France because he has an interest in the U.S. debt to France. States that Morris denies being involved in such speculation. Signature clipped.

Writes that he is very upset at the sudden death of his brother, Joseph, which happened the previous Friday. Is traveling to Brookline to see his brother's widow and daughter. Touches on financial arrangements with Knox and with Mr. [James] Swan.