With respect to the security required by the sixth section I would prefer persons residing within the United States, where the party can procure such to be his security. In this case, his own bond duly executed may be sent to me, and his sureties here may enter into a separate bond. Where the party cannot conveniently find sureties within the United States, my distance, and want of means of knowing their sufficiency, oblige me to refer him to the Minister or _Chargé des Affaires_ of the United States, within the same government, if there be one, and if not, then to the Minister of the United States, resident at Paris. The securities which they shall approve, will be admitted as good. In like manner, the account for their disbursements, authorized by this law (and no other can be allowed) are to be settled at stated periods with the Minister or _Chargé_ within their residence, if there be one; if none, then with the Minister of the United States, at Paris. The person who settles the account is authorized to pay it. Our Consuls in America are not meant to be included in these directions as to securityship and the settlement of their accounts, as their situation gives them a more convenient communication with me. It is also recommended to the Consuls to keep an ordinary correspondence with the Minister or _Chargé_ to whom they are thus referred; but it would be also useful, if they could forward directly to me, from time to time, the prices current of their place, and any other circumstances which it might be interesting to make known to our merchants without delay. The prices of our funds have undergone some variations within the last three months. The six per cents were pushed by gambling adventures up to twenty-six and a half, or twenty-seven and a half shillings the pound. A bankruptcy having taken place among these, and considerably affected the more respectable part of the paper, holders, a greater quantity of paper was thrown suddenly on the market than there was demand or money to take up. The prices fell to nineteen shillings. This crisis has passed, and they are getting up towards their value. Though the price of public paper is considered as the barometer of the public credit, it is truly so only as to the general average of prices. The real credit of the United States depends on their ability, and the immutability of their will, to pay their debts. These were as evident when their paper fell to nineteen shillings, as when it was at twenty-seven shillings. The momentary variation was like that in the price of corn, or any other commodity, the result of a momentary disproportion between the demand and supply. The unsuccessful issue of our expedition against the savages the last year, is not unknown to you. More adequate preparations are making for the present year, and, in the mean time, some of the tribes have accepted peace, and others have expressed a readiness to do the same.