"We have made considerable progress in[Pg 19] a plan to be recommended to the several states for funding all the public debts, including those of the army, which is certainly the only way to restore public credit and enable us to continue the war by borrowing abroad, if it should be necessary to continue it."

That it might be necessary to continue the war Hamilton seriously feared, in spite of the fact that the provisional treaty of peace with Great Britain was then before Congress. A grave question had arisen whether faith had been kept with France in the negotiation of this treaty. Congress had resolved unanimously (October 4, 1782) that "they will not enter into any discussion of overtures of pacification but in confidence and in concert with His Most Christian Majesty," the King of France. Adams and Jay, against the advice of Franklin, negotiated secretly with Great Britain, and only the moderation of Vergennes, French Minister of Foreign Affairs, prevented serious friction between the allies.

[Pg 20]

Hamilton, though far from being a partisan of France, believed in acting towards her with the most scrupulous good faith. He advocated a middle course between subserviency to Great Britain and implicit confidence in the disinterestedness of France. He declared (March 1