their aid in these and other matters interesting to Spain, yet he could not forbear reminding his Excellency as a friend, that public business done under the direction of public bodies was always more expensive than when done by individuals. That, therefore, he would submit it to his consideration whether it would not be more advisable to commit the management of those affairs to the agent, intended to succeed M. Mirales, who, by being on the spot, would have opportunities of acting on exact information, and in a manner more consistent with the views of his Excellency. The Count agreed in this opinion, and promised to communicate to Mr Jay his further intentions on this subject. Mr Jay informed the Minister, that as his further stay here would now be unnecessary, and business called him to Madrid, he purposed to return there on Monday next. The Count concurred and the conference ended. Congress will permit me to observe that many things in this conference are important, and demand instructions. I forbear to point them out, because they are obvious; and I take the liberty of giving this hint from a knowledge of the delays attending the proceedings of large bodies. I returned to Madrid on the day appointed; and whether to accept or not to accept the bills became a very serious question. After reviewing all the reasons for and against it, which are numerous, and which Congress will readily perceive without a particular enumeration, I determined to put a good face on the business, and accept all that should be presented, which I have accordingly done, and am daily doing. What the event will be I cannot pretend to decide. All that I can say is, that my endeavors shall not be wanting to render it successful. The responsibility of the King will not produce much, and the difficulty of borrowing money has been increased, by the number of agents sent to Europe for that purpose by several of the different States, who I am told have imprudently bidden on each other. M. Gardoqui returned to Madrid a few days after I did, and brought me word from the Minister, that instructions should be sent to their Ambassadors in Holland and France, to assure in due form the responsibility of the King to such persons as might there incline to lend us money on the credit of it, and that the Minister would do the same here. He told me further, that the Minister hoped I would not be discouraged, nor consider this only on the dark side, for that it was still his intention to afford America every aid in his power. All this I ascribe to the exertions of America, and I am confident, that it will always be necessary for the United States to be formidable at home, if they expect to be respectable anywhere.