Refers to his attempts to meet with merchants and manufacturers in France. Writes, The reason why the French in this Quarter, have not been able to sell their manufrs. as low as the English, I saw in a moment,- there is not that invention & care used as in Great Britain, to save labour- People being plenty they continue to employ them, because they have done it for a long time. Discusses the replacement of human labor with machines in French manufacturing. Notes that the Marquis de Lafayette has offered to write Swan letters of introduction. Hopes his memorial on French and American trade, translated by M. de la Tombe, will be printed in France. Laments his financial situation.

Relates the details of his passage to France. Had planned to avoid conversing with people from Boston, but ran into people he knew aboard ship. Received introductions from French nobility during his passage. Asks for news related to the United States Constitution. Discusses his debt, stating his interest in obtaining a consular position to an unspecified location in Europe. Notes that the merchants' wives are the most extravagant in their spending, while the higher order are very prudent & oeconomical, tho' showy. Discusses letters of introduction, mentioning two previous letters from Washington to Count Rochambeau and the Marquis Chatleux. Requests new letters to the Marquis [de Lafayette?] and Mr. [Thomas] Jefferson to spare them the difficulty of recollection, which to me is the most painfull situation I can be placed in... Bemoans his financial situation.

Writes that he received Knox's letter from a year ago and would have replied sooner if he had anything interesting to say. He asks Knox to look at a letter he sent to Secretary of State Thomas Jefferson regarding a contract for supplies to the french navy and the Kinds Rationers in the Colonies-to receive in payment for such orders from the Treasury...in part of the debt of the United States to france. Swan describes that the bankers in Amsterdam are holding out from repaying any Company or persons who may hold the bonds, other than the Government here. Swan is concerned that a trading partnership cannot develop as a result unless Mr. Jefferson by his recommendation to the Secretary of the Treasury and to the President, shall propose an Instruction to the Dutchmen...that they shall pay the money due to France. Swan wishes for Knox to exert his influence on both Jefferson and Hamilton in order to achieve a favorable trading relationship.

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.

Discusses the price of wood, among other business. Date previously inferred, written in pencil.

Swan has enclosed a plan advantageous to both the U.S. and France and wishes Knox to exert his influence over President George Washington and Secretary of the Treasury Alexander Hamilton to agree to it. Swan also sends the bankers' letter to me, the Commission or agency in which, I sacredly engage to pay to you. In a postscript dated 30 December Swan asks Knox, pray sound Mr. Jefferson on this, or get some one to do it. I am affraid of him, merely because Mr. Short may have misled him.

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