abilities of the financier, from the economy which is introduced into our departments, from the industry which money excites, and which a fluctuating medium had destroyed, and from the total debility which much attend another shock to public credit. You are perfectly acquainted, Sir, with the natural resources of the country, you know the value of our exports, and the security they afford for any debt that we may contract; in short, there are a thousand arguments on this subject, which will suggest themselves to you, not one of which will you, upon this occasion, omit to urge, since you must be perfectly convinced of its importance in every view, both to France and to us. The Superintendent will write more fully upon this subject, which relates so particularly to his department. I would beg leave to remind you of another want, which we depend on your representations, and the good dispositions of the Court of Versailles, to remove. The chase here seems to be pretty well over, the enemy, tired of running across the country, have taken to their burrows, and the whole business that remains to us, is to take measures for unearthing them next spring. In order to this, ships are absolutely necessary. The situation of New York and Charleston renders them untenable against a naval force, and extremely strong against an attack by land; besides that success in such an operation would not be decisive, since, after putting us to immense expense of men and ammunition of every kind, while they keep the command of the water, they might change their position and be as troublesome as ever. At any rate, the reduction of both these places, from their distance, and the difficulty of removing the men and stores, cannot be effected the same campaign without a naval force, and with it, it will be the business of a few weeks. The advantage to France, independent of her interests as they stand connected with ours, in keeping a great naval force on this continent is obvious. _1st._ The expense to which they put the English, by obliging them to maintain an equal force at this distance from home, at four times the cost at which the French navy may be maintained in this country; which, with proper management, need not exceed what they expend even in France. _2dly._ The number of seamen they employ in the transport service, being so many deducted from what might supply their navy, with the same expense as if so employed. _3dly._ The protection afforded to the trade on this coast, and the prospect of capturing the enemy's victuallers, and the consequent ruin of their affairs.