"I ought to inform your Excellency, that bills for about fifty thousand dollars remain unaccepted. The greater part of these are in the hands of merchants, who waited my answer with a degree of patience, I could not have expected; some of them ever since the month of June last. Further delays, therefore, were not to be asked or obtained, and I was reduced to the necessity, either of promising to accept them, or permit the credit of Congress to perish with them. I could not long hesitate. I promised to accept them. Fortunately, these bills have hitherto come on slowly, though, it is probable, that the assurances of Spain, which I have communicated to Congress, may quicken their pace. A period, however, will soon be put to their drawing, as I have written to them by several conveyances immediately to stop. "I ought also to inform your Excellency, that a promise made me in June last of some clothing for our troops has been renewed, and that his Majesty has been pleased to offer us his responsibility to facilitate a loan of one hundred and fifty thousand dollars. I shall endeavor to make the most of this offer, and your Excellency may rest assured, that I shall gladly embrace every measure, which may be calculated to lessen the weight with which the American cause presses on the finances of France. "I have the honor to be, &c. JOHN JAY." I also sent a copy of this letter to Dr Franklin, enclosed in one of which the following is a copy. St Ildefonso, Sept. 22d, 1780. Dear Sir, "I have lately written to you several letters. Enclosed is a copy of one to Count de Vergennes, which Count Montmorin, who also writes to him on the same subject, is so obliging as to send together with this, by a courier to Bayonne. "The papers you have heretofore received from me, with those now sent, will enable you to understand it, and I am persuaded your abilities and influence will be exerted to promote the success of the application contained in it. It appears to me absolutely necessary, that the bills drawn on me be saved at all events. If contrary to my ideas of the wisdom and affection of France, she should not lend us money for the purpose, we must endeavor to borrow it of individuals, though at a higher than usual interest; nay, on any terms, rather than not get it. Almost anything will be better than a protest; for exclusive of the disgrace, which is intolerable, the consequences of it would cost Congress more than the expense of saving their credit, be it almost what it will. "I am, &c. JOHN JAY."