We have turned our thoughts earnestly to what is recommended to us by Congress, the borrowing two millions sterling, in Europe. We just proposed to borrow it of this Court, upon interest, but were told by the minister, that it was impossible to spare such a sum, as they were now arming, at a great expense, which kept their treasury bare, but there was no objection to our borrowing it of private capitalists here, provided we did not offer so high an interest as might raise it upon government. We are advised to try Holland; and we have caused the pulse to be felt there; but though Holland at present is a little disgusted with England, and our credit is considerably mended in Europe by our late successes, it does not yet appear sufficient to procure such a loan. Spain, it seems, has by its punctual payments of interest, acquired high credit there, and we are told, that by her publicly borrowing, as for herself, and privately allowing us to draw on her banker, we might there obtain what money we pleased. Mr Lee was gone to Spain, before the commission and orders came to Doctor Franklin, for that station; he will give you a particular account of his negotiations; we here only mention that he received the same general assurances, of the good will of that Court, that we have here of this; he was informed, that three thousand barrels of powder, and some clothing were lodged for our use at New Orleans; that some merchants at Bilboa had orders to ship for us such necessaries as we might want, that orders would be given to allow us admission into the Havanna, as a favored nation, and that we should have a credit on Holland, (the sum not then settled) which might be expected at Paris, the beginning of this month. The Spanish Ambassador here, a grave and wise man, to whom Mr Lee communicated the above, tells us, that his Court piques itself on a religious observance of its word, and that we may rely on a punctual performance of its promises.