"Believe me, Sir, the United States will not be able to pay their debts during the war, and therefore any plan whatever calculated on a contrary position must be fruitless. I am ready to pledge their faith for repaying to his Majesty, within a reasonable term after the war, and with a reasonable interest, any sums he may be so kind as to lend them. What more can I offer? What more can they do? If there be any services they can do to his Majesty, consistent with their safety and defence, they are ready and will be happy to render them. They respect the King and the nation, and at the very time they are requesting his aid, they are soliciting to be united to him by bonds of perpetual amity and alliance. Against his enemies as well as their own, they are now in arms; and the supplies they ask are not for the purpose of luxury or aggrandizement, but for the sole and express purpose of annoying those enemies, and enabling France, Spain, and themselves, to obtain a peace honorable and advantageous to each. "Of his Majesty's kind disposition towards them, they had received not only professions but proofs. Hence they became inspired not only with gratitude, but with confidence in his friendship. Impelled by this confidence, and a particular concurrence of exigencies already explained to your Excellency, they drew the bills in question. The issue of this measure will be highly critical, and followed by a train of consequences very important and extensive. The single circumstance of your Excellency having permitted me to accept the first of these bills, will be considered by our enemies as an unfortunate omen. By predicting from it further aids, their ideas of the resources of Spain, and the resistance of America will naturally be raised, and their hopes of subduing the one, or reducing the power of the other, will naturally be diminished. They will impute these aids to a plan of the House of Bourbon, wisely concerted and firmly persisted in, to secure themselves and all Europe against the ambition of Britain, by completing the division of her empire, and they will cease to flatter themselves, that America thus aided will become destitute of resources to carry on the war. On the other hand, America will derive fresh vigor from this mark of friendship, and their attachment to his Majesty become proportionably more strong. By mutual good offices, friendship between nations, as between individuals, is only to be established; and it is always a happy circumstance when it subsists between those, whom nature has placed contiguous to each other. But your Excellency's time is of too great importance to be engaged by such obvious reflections.