From those extracts it will appear to your Excellency, that the fate of America depends upon the immediate and decisive succor of her august ally, in the two points of a specific loan and a naval superiority. The most accurate calculation of the expense requisite for a vigorous campaign, and the interior means which Congress have of defraying that expense, prove that there is a deficiency of the full sum solicited by Congress. The grant of six millions, which his Majesty is pleased to make under the title of a donation to the United States, will be acknowledged with the liveliest emotions of gratitude by affectionate allies, at the same time it would be frustrating the gracious intentions of his Majesty towards his allies, and betraying the common cause of France and America, to encourage a belief, that the above mentioned aid will enable the United States to surmount the present perilous juncture of our affairs. The reasoning in the foregoing extracts will evince how inadequate the sum is to the present exigency. I must likewise remark to your Excellency, that the credit in bills of exchange is subject to difficulties and disadvantages, which render such a resource very unfit for the conduct of the war. Bills are obnoxious to the vicissitudes and speculations of commerce, and it is easy to foresee, that his Majesty's allies would be great sufferers by their drafts, and at the same time be incapable of giving that vigor and energy to their operations, which would be derived from specie. The same enlightened policy and generous regard for the rights of mankind, which prompted France to espouse the cause of America, still dictate the conduct which she is to pursue; they demand every effort on her part to prevent America from being reduced to the British domination, her commerce, and those sources of wealth being restored to the tyrant of the European seas, the ancient rival of France; but on the contrary, the abasement of this rival, and the establishment of a faithful ally, united by all the ties of gratitude, affection, and the most permanent mutual interests. To those invaluable purposes give me leave to repeat to your Excellency, that the decisive measures in the foregoing extracts are necessary.