France gave the U.S to maintain the solvency of the United states in six years during the war. French government gave the United States economic assistance, including grants, loans and gifts. French government grants and loans during the American revolution were won by Franklin, diplomat to French during the war.
From the beginning of the Revolution, the continental congress always needed money from oversea to buy munitions and pay soldiers. However, the continental Congress did not receive the power to taxed therefore receives no revenue. Franklin commented: The banknotes effect of the ocean on this side can not be understand. Indeed, this whole is mystery even for those politicians:no money ,how can we consecutive four-year battle, how can we be redeemed with no prior special fund allocation fixed bill pay. Banknotes, when we use it today is a strange machine.
The tax would pay costs for military to provide clothes, food, drinks and ammunication. The congress was forced to issue to provide an excessive number of pay off by devaluation.” However, these notes can only be used in the United States, in Europe, the requirements genuine cash. At that time, Europe was financial center of the world and continued to provide funding the war to continue the won effect, to meet the American revolution to place all munitions. Only the ports of France, Spain and the Netherlands provide sufficient cargo to privateering ship in the united states as a war prize shipped back to the united states.
In short , the only Europeans could meet the united states requirements for capital goods for the war. Most of these funds were returned by franklin. All these amounts, Franklin had to be obtained from a part of France. He decided when to apply for a loan. Continental congress would authorize him to apply for ,and he was told to apply for money. The money from the French Ministry of Finance to the Continental Congress was needed to pay the bills of a letter the continental congress. In may 1779, Franklin addressed to the foreign affairs committee, writing competent loan treasurer draft will soon…