Papers of John Adams, volume 21
th1792
I ought not to neglect an opportunity by Colo: Smith to assure you by a few lines, of the
continuance of my regard.1 I
received last Spring a Box of Books from you, for which I fear I have never
before expressed my gratitude. The best apology, I have to make for this
seeming negligence is continual ill health, in my own person & all my
family. Your friend, my dear Mrs: Adams, is now
dangerously ill, and has never enjoyed her health for 18. Months past.2 The Climates of New York,
and Philada: have been very fatal to her and me;
the fever & ague at our age, is a formidable foe. My Office is too great
a restraint upon such a Son of Liberty as I am. Such sedantary confinement,
for so many hours every day for six or seven months together, is too much
for a man habituated for a long course of years, to long Voyages and immense
journeys. And such long continued attention to debates and business, is not
very charming to a man, accustomed to the conversation and amusements of
Paris, of London and the Hague, among the Diplomatick Corps. There is
nothing passing in this Country worth your knowing This Nation is too happy
to shine or make a noise. Europe is the scene of splendid events and
interesting incidents, at present. Pray, how go the rights of man? The
wrongs of Nobles, Priests and Kings? Pray how do you like the Author of the
Rights of Man? Do you find him a holy man, fit for an Apostle of
Republicanism? The spirit, and a System of National Liberty to all Nations,
Is a favorite Toast with me; but I deprecate the rashness of desperate
adventurers, and detest the Artifices of unprincipled impostures. I have
already seen so many evils arising from such sources, that I am a burn’d
Child. Pray Remember me with your usual Kindness, write me as often as you
can, and believe me ever, / Your friend
LbC in TBA’s hand (Adams Papers); internal
address: “Thomas B Hollis Esqr:”; APM Reel 115.
AA2, WSS, and their
children sailed on 29 March via the Bristol, Capt. Pierre de Pyster, reaching England in early May.
They stayed until Feb. 1793, while WSS pursued speculative
ventures (
AFC
, 9:260,
509, 510).
Throughout the winter of 1792, AA
103 suffered from a recurring fever
and rheumatism, which prevented social activity. By 10 March, a
distressed JA was “much encouraged” to see signs of
improvement (
AFC
, 9:265,
267–268, 509).
th:1792
I take an opportunity by part of my family bound to
London, to remind you of a person who is
taken once had an opportunity of knowing you personally, and to
express my sympathy with you under your sufferings in the cause of Liberty.
Inquisitions and Despotisms are not alone in persecuting Philosophers. The
people themselves we see, are capable of persecuting a Priestly, as an other
people formerly persecuted a Socrates. By a compliment which I held very
precious in your familiar letters to the Inhabitants of Birmingham,1 I am emboldened to hope that
you will not be displeased to receive an other Coppy of my Defence,
especially as that which was presented you formerly has probably had the
honor to share the fate of your Library. As there is not a sett to be sold
in London, at least, I am told so, I have desired Colo: Smith to take one from New-York, and present it to you with my
sincere veneration.
This Country is as happy I believe as it ever was, or will be. Ambition and avarice however, exist here as well as in England, and produce contests and dissentions, their usual fruit. The office of President, with its twenty five thousand Dollars, will glitter in the eyes of Americans, very nearly as much as that of King in England with his Millions. I am Sir with sincere sentiments / of esteem, and Respect, your most obedient
LbC in TBA’s hand (Adams Papers); internal
address: “The Revd: Dr Priestley / London.”; APM Reel 115.
JA referred to Priestley’s defense of
Unitarianism, as expressed in his Familiar
Letters, Addressed to the Inhabitants of Birmingham: In Refutation
of Several Charges, Advanced against the Dissenters and
Unitarians, London, 1790.
th.1792
It is a long Time to me since I did myself the Honor and
Pleasure of writing You.1 So
unproductive a Correspondant as I had been, I was fearful would be thought
to have taken up more than his Proportion of your important Moments. As some
Excuse however I felt, 104 I was
confident, a Glow of sincere Friendship towards You, equal to any of the
more agreable or beneficial.— I have been touched, and provoked at the foul
Vermin who, proud to feed upon high Food, dared to collect their noiseous
Swarm around You.— They died in their Gluttony, and fell off in obscure
Death, without a Blow or a wipe. Thus perish
base Ingratitude!— Was it possible this miscreant low Attempt through Highwaymen indeed, could come from the high
Source, You refer to in Your Letter of March 2d.
1791. “And the other Rivelizers which if not already in Action, will soon
appear between, Ministers of State and between the Legislative, Executive
and Judicial Powers. “— I could not have thought it possible; If we consider
the Men, who share the most important Honors and Preferments of Their
Country; and the different Parts from whence they are called,—the very large
Proportion in the middle and more southern States,—That You would ever have
had a forward-looking Competitor.— But Mr. A——s
does not walk the Streets enough says one—and I say He does not study to
catch the Eyes of the Multitude,—He does not watch the Windows from the
first Floor to the Garrets, to catch an Object to whom He may profoundly
bow.— And if instead of this, He is in His Closet studying the wisest
Systems of Government and the most equal and beneficial Laws, by which the
People may be wiser and happier,—Or if He is forming Treaties, whereby
Millions of His Countrymen may hereafter obtain a plentiful Support—Still
these are Things which the Multitude do not see, but which Rivals for Honor
or Interest will smother, choosing rather to grow by smothering the Worth of
others, than labor to raise a real Fame for Themselves— How is all this! Can
virtuous Americans thus act?— I say no.— The plausible mean Sycophant can.—
the Virtuous,—and Virtuous I trust there will be; must support the Brave and
Good—
But my dear Sir, does not the present speculating Rage
auger ill?— When we see Men leaving their common and ordinary Callings, by
which they have, from certain Gains supported
their Familys and brought up their Offspring in Diligence, and to
Honor,—suddenly leaving those Employments and runing to the Hazard-Table, do
we not presume certain Ruin as the Consequence?— While I have admired the
ready and fertile Genius of Our Minister of Finance, I have been almost in
Fear He must at Length run aground. Such are the continued rising unexpected
Claims, encouraged by too successful Attempts upon the Publick—And many I am
confident are just waking into Life;—called by the Resurrection of others
which had been presumed to have sleept post Redemption.—
I have ever admired the Idea of an honorable Discharge of Our just Debts.— But I confess I have staggered, when I have seen the forlorn Creditor, between Fear, Hope and Distress, striped of His Demand by a Herd of Speculators, better informed in a Knowledge of the Game.—2 Paying these Demands into the Hands of Speculators and thereby straining the Means to the endangering of the Peace of the State, I conceive to be alarming— We strained dry Taxation upon the Freeholders, till the Screws snaped, and all was gone.— Trade we find Productive, but if the Merchant, and the Consumer bear up under the Duties laid with uncommon Spirit and Magnanimity, which they contemplate the Discharge of honest Debts, when they begin to distrust the Justice of Claims and see them accumulating beyond all Conception;—Patriotism will cool.— there is an End to all Means.— In short the Banks on Banks, the unbounded Credit given them, as most of them issue without Limitation of Sums, and as I conceive without adequate Security to the Publick, I fear will soon with the other publick Paper produce more paper Money in Proportion than was ever issued in the State of Rhode-Island:— And as I fear the present Spirit of Speculation will as much debauch the Minds of the People;—I see not why the Consequence should not be proportionately fatal to the United States— But while I profess my Alarm arises from an honest Heart; I know I have not a Genius to soar, and I must leave the Event. I know those whose Business it is know best.— I will endeavour to have as much Faith as possible, allways determined, If I can’t help an Administration I think well of, I never will hurt or distress them— the busy Clamour about the Indian War, and the many dirty Publications without Knowledge of Facts, must be distressing to those who have exerted themselves to obtain Peace, and have been unsuccessful in that, as well as the War they have pursued to the same End— Yet I presume, were it not for the Uneasiness of the People at the astonishing Fortunes they see Land jobbers making out of those Lands, Their Blood and Treasure are exhausted to procure, there would not be quite so much Uneasiness— When the People hear the Lands of the Publick are sold for Nine pence, and soon resold at five shillings they are thunderstruck.— They are told so.— They beleive it.— I do not know it— But it is the Thousands, the Millions, that honest People have been speculated out of, and which are called after all, honest Debts,—And which now, they are still to help to pay, that sours the Mind
From the Circumstance of a British Minister being sent over, I have been, and still am, under Apprehensions that the British do 106 expect soon to yield up the Frontier Posts:— Or why send a Minister;—They had declined doing any thing with Ours— they must know nothing can be done in the commercial Way, till that is done.—
But I will not exhaust your Patience. I shall be happy if
I procure a few Lines in some leisure Moment to feed upon— In the mean time
with Respects to Mrs. Adams and the Family, I
remain in plainess and honesty, / Your Friend
y:Marchant
RC (Adams Papers); internal address: “His Excellency John Adams”;
endorsed: “H. Marchant / ansd 3. March.
1792.”
Marchant last wrote to JA on 19 Feb. 1791 (vol. 20:477–478).
A flurry of speculation at the end of 1791, coupled
with ballooning sales of U.S. public debt in the New York securities
market in Jan. 1792, led to the Panic of 1792. Three new banks opened in
one week in New York alone. This spurred a frenzy of activity among
already overextended creditors, led by prominent merchant William Duer.
Ultimately, many plunged into financial collapse, or, as in Duer’s case,
faced imprisonment for debt. The Adamses weathered the financial storm,
but as CA observed, the threat of violence gripped the city
in its aftermath. Writing to AA on 22 April,
CA reported that Duer’s failure “created a universal
bankruptcy There is not now a rich man in this City They were all
engaged and they have all fallen The confidence between man and man is
destroyed and every thing puts on the look of languor. We have for this
week past been in great danger of a mob” (Hamilton, Papers
, 26:653;
AFC
, 9:280–281).