half price; and added, that their loss on this occasion could scarce be calculated. This, joined to the other expenses, and the great losses they had sustained in their marine and commerce, but chiefly in the former, and the great expenses they were at in consequence thereof, rendered it difficult for the King to do for America what he could have done easily the last year, and which he declared repeatedly, and in the strongest manner, it was his intention to do, as might be judged from his conduct heretofore; touching slightly on the succors sent us from Spain, the Havana, and Louisiana, but dwelling on his conduct in the negotiation last year with Great Britain, in which he would on no account be brought to sacrifice the interests of America. Such being his Majesty's disposition and intentions previous to the war, Mr Jay might easily judge, that he was not less determined at present to support their interests, whether formally connected with America by treaty or not. That, notwithstanding the losses and misfortunes sustained, the King's resolution, courage, and fortitude induced him to continue the war, and therefore they were obliged to incur much expense in order to fill their magazines and make the necessary preparations for this campaign and the next, yet that it was his Majesty's intention to give America all the assistance in his power. That it was as much his inclination as duty to second these dispositions, and that he had received the King's orders to confer with his colleagues thereon. He observed, however, that, although he was First Secretary of State, he must first confer with them on this subject; and from his own personal inclinations to second the King's intentions and to serve America, he was desirous of concerting with Mr Jay measures in such a manner as would prevent him from meeting with opposition from his colleagues, and therefore he spoke to him not as a minister, but as an individual.