The Devaluation of American Currency Stirs Controversy
In the year that followed, Adams actively ostracized himself from Franklin and the Comte de Vergennes. While he had no official appointment to the court, he continued to voice his opinions on how the alliance between the United States and France should be drawn up, and how the French should conduct their military operations in the North American theatre. It was his unrelenting vociferousness that eventually got him into trouble. Vergennes and Franklin were growing tired of Adams. Then on June 16, 1780, Vergennes saw his opportunity to finally oust Adams once and for all. Adams informed Vergennes that Congress had decided to devalue the American dollar in order to solve the problem of inflation. Vergennes responded by telling Adams that it was not in the interest of French merchants, and that if Congress wanted to hold Comtes de Vergennes, the French Foreign Minister, by Antoine-François Callet on to the Franco-American alliance, they must restore the value of their currency. Vergennes instructed Adams that he must inform Congress of his decision, and predictably, Adams refused.
Instead, Adams wrote to Congress of his support for the devaluation of the currency. On July 29, Vergennes informed Adams that he would only deal with Franklin, the appointed minister plenipotentiary to the Court of King Louis XVI—Adams would be ignored. Even Franklin was dismissive of Adams. In a letter to Congress dated August 9, 1780, Franklin observed that “Mr. Vergennes, who appears much offended, told me yesterday that he would enter into no further discussions with Mr. Adams, nor answer any more of his letters…” But by the time Franklin’s letter came to light, Adams was already in Holland, attempting to secure a loan to, in his words, “render us less dependent on France.”