I have had the honor of receiving your Excellency's letters of the 6th and 17th of October last, with the enclosures. They arrived the 30th day of January last. There is more than reason to suspect, that the French Court were apprised of their contents before they arrived, and to believe that the construction of the treaty, by which the navigation of the Mississippi is supposed to be comprehended in the guarantee, does not correspond with their ideas on that subject. This Court continues pertinaciously to insist on our ceding that navigation, nor will they, as yet, listen to any middle line. Whether this be their real motive for declining a treaty with us at present, or whether the bills drawn upon me have inspired an expectation of profiting by our necessities, or whether they flatter themselves with a future majority of Congress on that point, or whether they choose, by continuing free from engagements with us, to be better enabled to improve to their advantage the casualties of the war, are questions which still remain undecided. Indeed, the movements of this Court in general, when compared with the great rules of national policy applicable to their situation, is so inexplicable, that I should not be surprised, if it should appear in future, that they had no fixed system whatever. My last particular letter informed your Excellency, that having, in September last, been told that his Majesty could not advance us any money, but could be responsible for a loan to the amount of one hundred and fifty thousand dollars, I determined to continue accepting the bills, to attempt the loan, and by a representation of my situation to the French Court, endeavor to save the necessity of protesting them for non-payment. I tried to borrow here on the security of this responsibility, but without the least success. I attempted it in France, but it would not do. I made the like attempt in Holland, and a gleam of hope appearing there, I was about improving it, when a letter from America informed me, that Mr Adams was authorised to execute the business, which had been committed to Mr Laurens. I had heard before of his being in Holland, but did not know the object which had called him there. Several letters passed between Messrs De Neufville and myself on the subject of this loan. The following is a copy of my last to them about it. TO DE NEUFVILLLE & SON. "Madrid, January 8th, 1781. "Gentlemen, "I have had the pleasure of receiving your favor of the 4th ult. together with the one referred to in it. "England has, it seems, declared war against the United Provinces, and that in a style of such eminent superiority, as I am persuaded will remind your countrymen, that the United Netherlands are not comprehended among the territories depending on the Crown of Great Britain.