The Jeffersonian cyclopedia; a comprehensive collection of the views of Thomas Jefferson classified and arranged in alphabetical order under nine thousand titles relating to government, politics, law, education, political economy, finance, science, art, literature, religious freedom, morals, etc.; |
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 | The Jeffersonian cyclopedia; |  |
2018. DEBT (French), Assignats and.—
I have communicated to the President what
passed between us * * * on the subject of
the payments made to France by the United
States in the assignats of that country, since
they have lost their par with gold and silver;
and after conferences, by his instruction, with
the Secretary of the Treasury, I am authorized
to assure you, that the government of the United
States have no idea of paying their debt in a
depreciated medium, and that in the final liquidation
of the payments, which shall have been
made, due regard will be had to an equitable allowance
for the circumstance of depreciation. [121]
—
To Jean Baptiste Ternant. Washington ed. iii, 294.
Ford ed., v, 383.
(Pa.,
Sep. 1791)
As written by Jefferson, the letter, after the
words “depreciated medium” closed as follows:
“and that they will take measures for making these
payments in their, just value, avoiding all benefit
from depreciation, and desiring on their part to be
guarded against any unjust loss from the circumstances
of mere exchange.” It was changed to meet
the views of Hamilton.—Editor.
| The Jeffersonian cyclopedia; | |