Connection To Thomas Paine
According to Daniel Wheeler's Life and Writings of Thomas Paine, Volume 1 (of 10, Vincent & Parke, 1908) pp. 26-27: Thomas Paine accompanied Colonel John Laurens to France and is credited with initiating the mission. It landed in France in March 1781 and returned to America in August with 2.5 livres in silver, as part of a "present" of 6 million and a loan of 10 million. The meetings with the French king were most likely conducted in the company and under the influence of Benjamin Franklin. Upon return to the United States with this highly welcomed cargo, Thomas Paine "positively objected" that Washington should propose that Congress remunerate him for his services for fear of setting "a bad precedent and an improper mode". According to an account by Elbert Hubbard in the same volume (p. 314), Paine organized "the Bank of North America to raise money to feed and clothe the army, and performed sundry and various services for the colonies."
Henry Laurens (John Laurens' father) had been ambassador to the Netherlands but was captured by the British on his return trip there. When exchanged for General Cornwallis in late 1781, the senior Laurens proceeded to the Netherlands to continue loan negotiations. Historians have questioned the relationship of Henry Laurens and Thomas Paine to Robert Morris as Superintendent of Finance and his business associate Thomas Willing. The latter became the first president of the Bank of North America in January 1782. Laurens and Paine accused Morris of war profiteering in 1779, and Willing had voted against the Declaration of Independence. The credit for obtaining the critical loans in 1781 and 1782, and first "organizing" the Bank of North America for approval by Congress in December 1781 should certainly include Henry or John Laurens and Thomas Paine.
Read more about this topic: John Laurens
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