Pierre-Samuel DU PONT DE NEMOURS (1739–1817), physiocrat, pu - Lot 27

Pierre-Samuel DU PONT DE NEMOURS (1739–1817), physiocrat, publicist, and diplomat. 48 letters (L.A.S.) and 4 postcards (P.A.) or notes (P.S.), 1800–1814, to Jacques Necker (15), Louis Necker de Germany (3), and Germaine de Staël (34); approximately 130 pages, mostly in-8 or in-4 format, with addresses; plus a few attached documents. [This lot will appear in the auction catalog of AUDAP & Associés Tel.: +33 (0)1.83.750.500 - info@audap-associes.com] An important and highly interesting collection of correspondence to shareholders from the early days of his American enterprise, from Necker and his daughter, Madame de Staël. In addition to accounts and financial matters, the letters abound with highly interesting political and economic observations on the situation in France and America, and on the development of the physiocrat’s American business ventures, while also reflecting a tender friendship with Madame de Staël, complete with literary and philosophical reflections. Here we can offer only a brief overview, with a few representative quotations, of these often lengthy letters. * To Jacques Necker (the letters are organized into six folders labeled in Necker’s own hand). – New York, February 9, 1800: “I find myself far from my country, and shortly after my departure, enlightened men took the reins of government. I wish them every success, which their enlightenment and courage lead me to expect. Anything that benefits my homeland will always stir my heart, but I can no longer be a witness to it. I can only contribute by helping to expand its trade, and perhaps, from time to time, through a few writings, if my business affairs allow me the time. It was on my word and through personal trust in me that the Company was formed, which provided me with capital and entrusted me with managing these affairs here. It therefore appears that I will end my life, just as you began yours, by devoting all my intelligence and prudence to commercial interests, and by living up, as best I can, to the high opinion my friends have held of me. “He who has imposed duties upon himself is obliged to fulfill them”… He explains the method he intends to apply to his business affairs in America. –August 21, 1801. “Although you are not a member of my company, I regard you as one of its leaders, and I attach the utmost importance to your advice, because I find in it experience, insight, and, it seems to me, genuine goodwill”; he speaks of his son Irénée and of “our gunpowder factory, which is one of our operations […] to which we are devoting considerable attention”; he will raise funds at “six percent per year.” – October 9. “On the advice of Mr. Delessert, we have adopted an arrangement so that our European shareholders will never be troubled by the differences between American and European laws regarding limited partnerships”; financial explanations regarding the operations of their firms in Paris and New York. – October 14, regarding a receipt from Governor Morris. – Good Stay near New York, November 9: “My son informs me that you are willing to entrust approximately ten thousand dollars to our firm.” – New York, November 30, regarding the valuation of the funds received at 6 percent: “I add to the formal and business gratitude of my firm the personal gratitude of my heart. […] It matters to me more than I can tell you that you find me as diligent and as capable in my new career as you were kind enough to believe me to be in those I pursued closer to you and which were no more foreign to you. The time—which you foresaw as clearly as I did—when peace would deal an unfortunate blow to trade in the United States has arrived. Since the signing of the Preliminary Treaties became known, thirty-nine ships have been put up for sale in New York. The drop in their prices may serve to equip our passenger ships more economically—ships I regard as an indispensable tool for all other business ventures; and as a profitable tool for their operator, because passenger ships are sure to earn their freight regularly at a slightly higher rate than other vessels […] Peace makes it possible to undertake and pursue many other useful ventures, though less glamorous. And apart from the savings in human labor, the general increase in work, wealth, and population, and the accumulation of capital—which war had halted and eroded—all things so precious in philosophy and politics, it is very advantageous for the merchant to operate on a foundation that is improving and within an order that promises stability,” etc. “The First Consul is not a man to be unaware that prohibitions prohibit nothing; and that duties exceeding the smuggling premium by more than one or two percent are illusory, since they do not