Sir, The Empress you know formerly proposed to mediate between Britain and Holland, which was declined by the former, as she could not enter upon a partial mediation, for the reasons she then assigned; since which time, the joint mediation has been tendered by the two Imperial Courts, between all the belligerent powers, which has issued unsuccessfully. Finally, her Imperial Majesty, and the Kings of Sweden and Denmark, jointly tendered their mediation between Britain and Holland. Britain has declined to accept that of the Kings in conjunction with the Empress, but has agreed to accept her sole mediation. This is at present on foot. A Russian Minister has very lately gone, or will soon set off for Holland, to join Prince Gallitzin in this business, which I prognosticate will issue as fruitlessly as the general mediation has done. There is no peace to be had in Europe separate from that of our country, which already too sensibly affects the European systems to be overlooked or disregarded by those who have the adjustment of them. Notwithstanding the material change, which our revolution has wrought in their old systems, which is felt somehow by all the politicians of Europe, yet they seem some of them not to be sufficiently acquainted with the real nature of it. Hence that strange fluctuation or indecision in some cabinets; at least this is the best apology I can make for it. Sweden it appears to me acts as consistent a part as any power. She maintains her rights as a neutral nation, by constantly convoying her trade, and is besides wisely reaping the benefits of the American commerce, by silently and gradually admitting our vessels into her ports, and permitting our countrymen to purchase there everything they want, and to depart when and where they please. If this country would adopt the same system in every respect, they would soon see the happiest effects from it. At present, Sweden is making considerable profits, by being the depot of Russian manufactures for our use. I wish this country had a more commercial turn. We should then soon see a direct communication between the two countries opened and established, to the great benefit of both. But a free trade between them will meet with other obstacles. I am apprehensive not one of the maritime powers of Europe will aid us in our attempts to effect this, but that on the contrary, Britain, Holland, Denmark, and Sweden, will all at least secretly be opposing us. They well know this country has no navigation of its own, comparatively speaking; if, therefore, by various suggestions, they can excite a jealousy respecting the commerce of our country rivalling this in all the markets of Europe, a sentiment however groundless, which I am persuaded has made a considerable impression here, they will flatter themselves they shall each share a proportion of the benefits of an intervening commerce. Nothing, you will readily perceive, is to be expected here, while the business of mediation is kept up.