The state legislatures declared the inability of their constituents to pay taxes.

Instead of filling the continental treasury, some were devising means to draw money from it; and some of those who passed bills imposing heavy taxes, directed that the demands of the state should be first satisfied, and that the residue only should be paid to the continental receiver.

By the unwearied attention and judicious arrangements of the minister of finance, the expenses of the nation had been greatly reduced.

The bank established in Philadelphia, and his own high character, had enabled him to support in some degree a system of credit, the advantages of which were incalculably great.
He had through the Chevalier de la Luzerne obtained permission from his most Christian Majesty to draw for half a million of livres monthly, until six millions should be received.

To prevent the diversion of any part of this sum from the most essential objects, he had concealed the negotiation even from congress, and had communicated it only to the Commander-in-chief; yet, after receiving the first instalment, it was discovered that Doctor Franklin had anticipated the residue of the loan, and had appropriated it to the purposes of the United States.