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.

Hoped to already have an answer to a letter he wrote back in December. Says the subject of that letter has taken another turn and he will write in a few days about it. Encloses letters that he hopes Knox will forward to Boston.

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.

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

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.

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.