"That Britain should be desirous of a separate peace with us is very natural, but as such a proposal implies an impeachment of our integrity, I think it ought to be rejected in such a manner as to show that we are not ignorant of the respect due to our feelings on that head. As long as France continues faithful to us, I am clear that we ought to continue hand in hand to prosecute the war until all their, as well as all our, reasonable objects can be obtained by a peace, for I would rather see America ruined than dishonored. As to Spain and Holland, we have as yet no engagements with them, and therefore are not obliged to consult either their interest or their inclinations, further than may be convenient to ourselves, or than the respect due to our good allies may render proper. "France, in granting you six millions, has acted with dignity as well as generosity. Such gifts, so given, command both gratitude and esteem, and I think our country possesses sufficient magnanimity to receive and remember such marks of friendship with a proper degree of sensibility. I am pleased with your idea of paying whatever we owe to Spain. Their pride, perhaps, might forbid them to receive the money. But our pride has been so hurt by the littleness of their conduct, that I would in that case be for leaving it at the gate of the palace, and quit the country. At present such a step would not be expedient, though the time will come when prudence, instead of restraining, will urge us to hold no other language or conduct to this Court than that of a just, a free, and a brave people, who have nothing to fear from, nor to request of them. "I am, &c. &c. JOHN JAY." On receiving Dr Franklin's letter I sent for my good friend the notary, and desired him to make it known among the bankers, that I had received supplies equal to all my occasions, and was ready to pay to every one his due. He received the commission with as much pleasure as I had the letter. He executed it immediately, and our credit here was re-established. M. Cabarrus became displeased with himself, and took pains to bring about a reconciliation by the means of third persons, to whom I answered, that as a Christian I forgave him, but as a prudent man, could not again employ him. As this gentleman has suddenly risen into wealth and importance, and is still advancing to greater degrees of both, I shall insert a letter, which I wrote in reply to one from him on the subject. TO M. CABARRUS. "Madrid, April 2d, 1782. "Sir, "I have received the letter you did me the honor to write on the 29th of March last. "As soon as the examination of your accounts shall be completed, I shall be ready to pay the balance that may be due to you, either here or by bills on Paris.