Here I have endeavored to engage merchants to speculate in a direct commerce to America, to find out the sentiments of the people in general respecting us, to know whether, in case of necessity, the United States would be able to negotiate a loan, whether England would be able to obtain further credit, and by this barometer of the ability of Princes, to discover their present situation. On these heads I have written Mr Deane, but having an opportunity by the way of St Eustatia, and thinking none should be neglected of giving information, though mine, perhaps, may not be of importance enough to merit that title, I have taken the liberty of addressing the honorable Committee. Arriving but two days after the accounts had reached this city, of our misfortune on Long Island, I found many, even of the sanguine friends of America dejected, and those of England almost in a frenzy of joy. In this disposition, it is easy to judge, no hopes could be entertained of engaging merchants in a direct trade. I find they have the greatest inclination to serve us, and at the same time themselves, for no people see their interests clearer, but their fears that we shall be subdued, the confident assertions of the friends of England confirming these apprehensions, the prodigious sums they have in the English funds, with this unlucky business at New York, all conspire to prevent direct speculation. As my letters from Paris introduced me to the first houses here, I have had the best opportunity of knowing their sentiments, and I can venture to say, that with many who are apparently adverse to us, it is interest combating with principle, for insulted, searched, and plundered as the Dutch were the last war, and are at present, there are individuals who by no means want sensibility to feel, though the public wants spirit to resent the injury. The States have, however, in answer to a fresh remonstrance of General Yorke, declared that their ports are open to vessels of all nations, and that their trade to and from their own Colonies shall be unmolested, their subjects complying with the ordinances issued by their High Mightinesses. In fact, their prohibition of exporting warlike stores, extends to all British subjects. I hope it will not be long before all Europe will own us in another character. It is very certain, that without a very material and apparent success of the British arms in America, a loan would be very slowly negotiated for England here. There is nothing hinders them now from selling out of the English funds, but their not knowing what to do with their money; for this country may be called the treasury of Europe, and its stock of specie is more or less, according to the necessity of the different Princes in Europe. It being a time of peace, the call has not been very great of late.