Molasses and rum we shall have, probably, from all the islands, English, French, and Dutch, in our own bottoms, unless the three nations should agree together to keep the whole trade of their islands in their own ships, which is not likely. I have made all the inquiries I could, and have sown all the seeds I could, in order to give a spur to our loan. Three thousand obligations have been sold, and the other two thousand are signed; but at this time there is a greater scarcity of money than ever was known. The scarcity is so great, that the agio of the bank, which is commonly at four or five per cent, fell to one and a half. The Directors, at length, shut up the bank, and it continues shut. The English omnium, which at first was sold for eight or ten per cent profit, fell to one and a half. The scarcity of money will continue until the arrival of the Spanish flotilla at Cadiz. Seven eighths of the treasures of that flotilla will come here, and make money plenty. Then we may expect, that my obligations will sell. In the meantime, I have great pleasure in assuring you, that there is not one foreign loan open in this Republic, which is in so good credit, or goes so quick as mine. The Empress of Russia opened a loan of five millions, about the same time that I opened mine. She is far from having obtained three millions of it. Spain opened a loan with the House of Hope, at the same time, for two millions only, and you may depend upon it, it is very far from being full. Not one quarter part of the loan of France upon life-rents, advantageous as it is to the lender, is full. In short, there is not one power in Europe, whose credit is so good here as ours. Russia and Spain, too, allow of facilities to undertakers and others, in disposing of their obligations, much more considerable than ours; yet all does not succeed. You will see persons and letters in America, that will affirm, that the Spanish loan is full, and that France and Spain can have what money they please here. Believe me, this is all stockjobbing gasconade. I have made very particular inquiries, and find the foregoing account to be the truth. Of all the sons of men, I believe the stockjobbers are the greatest liars. I know it has been given out, that the Spanish loan, which was opened at Hope's, was full the first day. This I know has been affirmed in the hearing of Americans, with a confidence peculiar, and with a design, I suppose, that it should be written or reported to Congress. But I am now assured, that it is so far from being true, that it is not near full to this hour. Let me beg of you, Sir, to give Mr Morris an extract of this, because I am so pressed for time, that I cannot write to him.