The acts of accession and acceptation on the part of the Emperor and Empress, relative to the neutral confederation, were exchanged here a few days after the date of my last letter to the President. A want of connexion is observable among the powers who have adopted this system; they are divided into three parties, the Empress standing at the head of each. First, Russia, Denmark, Sweden, and Holland; next, Russia and Prussia; and lastly, Russia with the Emperor. These parties are without connexion one with the other, unless it should be supposed, that the Empress being a party in each of them, connects the whole; but this must necessarily be a feeble connexion, as it imposes no duties, and confers no rights, which are in common to all the powers, which have adopted the system. The principles of it, however, have acquired some support by these last accessions, particularly by that of Russia, and it seems highly probable, that they will not fail of being established as the clear rights of neutral nations at the close of the present war. During the continuance of it, unless Britain should be so imprudent as to commit further infractions upon this system, we may not see anything more arise out of these associations. For if the subjects of the confederated powers, at present in a state of neutrality, meet with no further obstruction in their commerce or navigation, their end is answered. Neither Russia, Sweden, nor Denmark will give themselves much concern to vindicate the right of Holland to participate in the benefits of the system, according to their demands, especially the two last, who derive very great advantages from the present situation of the Dutch. Holland has let her opportunity slip by unimproved, and she must patiently wait the return of a _general_ peace for the restoration of her rights, whether founded in her treaties with Britain or in this new system.