To come next to America, should time and necessity oblige her to look abroad for money. In the present state of affairs, it is not probable that a loan is practicable. But should success so attend our arms, that it should appear evident that we are likely to support our independence, or should either France or Spain acknowledge our independence, in either of these cases I believe we might have money, and when it was seen that we were punctual in our first payments of the interest, we should have as much as we pleased. The nature of the security, or the fund for the payment of interest, I have not been able to imagine. But, observing in a letter to Mr Dearethart, it was the writer's opinion, that the honorable Congress did not wish to circulate too much paper, for fear of depreciating its value, I thought that bills issued similar to those in circulation in the Provinces, and lodged in a public bank in Europe, might be accepted as a pledge or deposit for money borrowed by the United States. I beg pardon for the crudity of the idea, and would not have mentioned it here, but that having hinted at it in general conversation, people thought it might, on a future occasion, be adopted. You will please to observe, that everything here mentioned came from an individual, who only as such avowed himself interested for his country's fate, and for its benefit sought information. Notwithstanding the rise of stocks, occasioned by our misfortune on Long Island, the Dutch are selling out, and my strongest representations have not been wanting to contribute a mite to this circumstance. The price of our product is great. Rice sells for twentyfive shillings sterling per cwt. and tobacco for eight stivers and four ---- per pound. You have been threatened, that the Ukraine would supply Europe with tobacco. It must be long before that time can arrive. I have seen some of the tobacco here, and the best of it is worse than the worst of our ground leaf. Four hundred thousand pounds have been sent here this year. The Russian Ambassador said at the Baron le Guerre's, Ambassador from Sweden, where I had the honor to dine, that Russia soon would be able to supply the market with that article. In this he spoke more like an Ambassador than as a merchant. I took occasion in reply to observe, that if that was the case, and on many other accounts, it was the interest of her Majesty that all intercourse between Great Britain and America should be broken off, for that then the former would be dependent on Russia for all those articles, which hitherto the latter had supplied her with.