A loan has been proposed to be obtained for us of the States of Holland on the credit of this government. All public operations are slow in that country, and though the affair is at length said to be concluded, it is not yet executed. Considerable advances have, however, been made here in expectation of being reimbursed by it. The last aids granted us have been so absorbed by my payment of the drafts on Mr Jay and Mr Adams, and acceptance of those for the enormous unexpected purchases in Holland, which were to have gone in Captain Gillon's ship, but left behind, that I shall have nothing to spare for extraordinaries, unless some of the Holland loan comes soon into my hands. I am now told from Amsterdam, that the two ships freighted there to carry those goods are detained, as their contract was to sail under convoy of the South Carolina, which left them; and they must now take more men to defend them, and of consequence claim a higher freight, and to have it paid before they sail, unless I will buy the ships, and send them on account of Congress, neither of which is in my power to do. It was with reluctance I engaged in that affair, having little confidence in Captain Gillon's management, and fearing some embarrassment of our credit. I consented in fine to engage for the payment of ten thousand pounds sterling, being the value of the goods suitable for Congress, said to be already shipped in that vessel, and as there was said to be still some room, and she was thought a safe conveyance, I concluded to furnish an additional sum to fill that supposed vacancy, which I limited to five thousand pounds sterling more. You will judge of my surprise, when I saw the accounts of that additional purchase, which amounted, instead of five, to fifty thousand pounds sterling. I at first absolutely refused to pay for them. But Captain Jackson came to me from thence express, urged that the purchase was made by order of Colonel Laurens; that the goods were on board; that if I would not undertake to pay for them, they must be relanded, and returned or sold, which would be a public disgrace to us; that they were all articles exceedingly wanted in America, &c. &c. In fine, I was prevailed on, and accepted the bills, and was obliged to go with this after-clap to the Ministers, a proceeding always disagreeable, after the dispositions of the funds of the year have been arranged; and more so in this case, as the money was to be paid for the manufactures of other countries, and not laid out in those of this kingdom, by whose friendship it was furnished. This fresh grant was at first absolutely refused; at length I obtained it, and I hoped the difficulty was over.