The affair of a loan gives me much anxiety and fatigue. It is true, I may open a loan for five millions, but I confess I have no hopes of obtaining so much. The money is not to be had. Cash is not infinite in this country. Their profits by trade have been ruined for two or three years; and there are loans open for France, Spain, England, Russia, Sweden, Denmark, and several other powers as well as their own national, provincial, and collegiate loans. The undertakers are already loaded with burthens greater than they can bear, and all the brokers in the Republic are so engaged, that there is scarcely a ducat to be lent, but what is promised. This is the true cause why we shall not succeed; yet they will seek a hundred other pretences. It is considered such an honor and such an introduction to American trade to be the house, that the eagerness to obtain the title of American banker, is prodigious. Various houses have pretensions, which they set up very high; and let me choose which I will, I am sure of a cry and clamor. I have taken some measures to endeavor to calm the heat, and give general satisfaction, but have as yet small hopes of success. I would strike with any house that would ensure the money, but none will undertake it, now it is offered, although several were very ready to affirm that they could, when it began to be talked of. Upon inquiry, they do not find the money easy to obtain, which I could have told them before. It is to me, personally, indifferent which is the house, and the only question is, which will be able to do best for the interests of the United States. This question, however simple, is not easy to answer. But I think it clear, after very painful and laborious inquiries for a year and a half, that no house whatever will be able to do much. Enthusiasm, at some time and in some countries, may do a great deal; but there has as yet been no enthusiasm in this country for America, strong enough to untie many purses. Another year if the war should continue, perhaps we may do better. I have the honor to be, &c. JOHN ADAMS. * * * * * TO ROBERT R. LIVINGSTON. The Hague, May 16th, 1782. Sir, On the 12th of this month, I removed into the _Hôtel des Etats-Unis de l'Amérique_, situated upon the canal, called the Fleweele Burgwal, at the Hague, where I hope the air will relieve my health in some degree from that weak state, to which the tainted atmosphere of Amsterdam has reduced it.