Writes that he is agreeably saluted with the news of War being declared against the Indians. Is quite overjoyed at the situation: I told you in State Street, what my hopes were- little did I think the happy circumstance so near. Would like Knox's advice on buying or selling in to the Continental funds. Has been very pleased with Knox's advice before and would be happy to have it again. Would like to know whether to engage actively in the present commotions. Seems to be inclined to do it - My heart is warm for supporting Government - but is unsure whether he can convince his charming companion (perhaps his wife) that he should go. Discusses his recent return from the islands, which he found to be prosperous, and declares that he is receiving good profits from his business there. Congratulates Knox on the recent addition to his family and sends compliments to Knox's wife Lucy.

Very flattered by Swan's confidence in his judgment, and only wishes his judgments were up to that standard. He has not been contemplating the funds, so he cannot judge which species of them ought to have the preference. Provides some thoughts as to the merits of each type of fund. Discusses attempts to raise money for Congress, for the government to use until the states provide money to the treasury. Relates that they need to make sure individuals who loan money to Congress feel secure that they will be repaid in a timely fashion. Discusses the functionality of their government. Finally, relates that he and his wife Lucy send their compliments to Mrs. Swan. See GLC02437.03321 for the letter from Swan to which Knox is replying.

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.

Returns Swan's account against John Campbell, who has been liberated from Goal by an oath of Insolvency & gone to Europe. (Swan had a dispute with Campbell; see GLC02437.03437). Says he does not know what the charges of Colonel [Alexander?] Hamilton are on this business, but will let Swan know when he finds out. Supports the new Constitution, and believes it will be adopted ultimately. Adds, Should Massachusetts & the other Eastern states embrace it eagerly much evil would be avoided. Date from docket.

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

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.

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.