When or how far it may consist with the views of Congress to make mercantile appointments in your country, I cannot determine; should they ever become necessary, I cannot doubt of your being remembered. The most powerful recommendation I can give them, will be by sending them our correspondence; and for that purpose, copies of all the letters that have passed between us are now preparing, and shall, together with duplicates and triplicates, be sent by the first vessels. As to the late ordinance of Spain establishing a paper currency, it is a subject on which I make no remarks, and for this very good reason, that the policy and propriety of that measure are objects without my sphere, on which I can have no influence, and which would not be altered by anything I might say or write about them. The Mexican dollars, mentioned in the bills drawn upon me, I understand to be only another name for Spanish milled dollars, which you know pass here at twenty reals of vellon. How far the sale or payment of these may be affected by the paper in question I know not, though I must confess that I do not apprehend so much evil from it as some others do. These bills will be on an equal footing with all others drawn on Spain, and you will readily suppose it not to be in my power to put them on a better. The King of Spain has been so kind as to offer to become responsible to a certain amount for monies which I may borrow for Congress, payable in three years. Be so kind as to inform me whether this could be done in your country, on their _joint credit_, how far, and on what terms. I have the honor to be, &c. JOHN JAY. * * * * * TO JAMES LOVELL. Madrid, October 27th, 1780. Dear Sir, Your letter of the 11th of July gave me much pleasure. There is a degree of ease and cordiality in it, which, as mere letters of business do not require, I am the more obliged to you for. It is true that I might write to Congress very often, indeed by every vessel, and there are many of them. But how are my letters to get to the sea-side? By the post? They would be _all_ inspected, and many suppressed. There is scarce a man in any of the ports, except Mr Harrison at Cadiz, with whom I would trust them; so that if, under different covers, I should get them there, the danger would not end. To write often, and write nothing material, would be useless; and when you see my public letters, by this opportunity, you will perceive, that, to be well understood, I must write a great deal. I would throw stones too, with all my heart, if I thought they would hit only the committee, without injuring the members of it. Till now I have received but one letter from them, and that not worth a farthing, though it conveyed a draft for one hundred thousand pounds sterling on the bank of hope.