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NYC Liberal

(20,453 posts)

9. Those loans were repaid in 1795.

Reply to kevinore (Reply #8)

Sun Mar 9, 2025, 01:22 AM

Mar 2025

In 1795, the United States was finally able to settle its debts with the French Government with the help of James Swan, an American banker who privately assumed French debts at a slightly higher interest rate. Swan then resold these debts at a profit on domestic U.S. markets. The United States no longer owed money to foreign governments, although it continued to owe money to private investors both in the United States and in Europe.

https://history.state.gov/milestones/1784-1800/loans