As I have no faith on the one hand, that the present mediation of the Emperor and Empress will issue in a pacification, general or partial, so, on the other, I as little expect that it will suddenly light up other wars. It is probable, nothing of the latter kind can take place, without this kingdom having a portion in it, and I have not yet been able to learn, that there is the least expectation of the sort here, which most commonly goes before the act. I suppose, therefore, that the belligerent powers will still continue belligerent, and that the mediators will hope for a more favorable opportunity to renew their mediation, and to make their particular advantage of the conflict. It seems to me it has been accepted by them, (America only excepted, to whom it has not been tendered) rather out of respect, or to avoid giving offence to the mediators, or to seek an advantage by discovering a ready disposition to hearken to every proposition having the least possible tendency to bring about a pacification. Not one of the belligerent powers, I believe, has an expectation, or a sincere wish that a pacification will, or should be brought about at present. Spain wishes to possess herself of Gibraltar and of the Floridas; can she now hope that these will be ceded to her? Does she not flatter herself, that by the continuance of the war, Britain will become so enfeebled, that they may be wrested from her? That having once obtained them by conquest, she will easily retain them at a peace? France wishes to establish herself, in the place of Britain, the dominant power of Europe; to this end, she sees that it is necessary to snatch the trident from the hand of Britain, and to wield it herself. To effect this, _she knows well, that America must be supported in her independence_. But is the time yet come, when she can reasonably hope, that both the mediators are prepared to make this last measure a proposition in their mediation, or Britain to acknowledge it?