A fleet of seven sail of the line sailed from Ferrol the 22d ult. to convoy off the coast a fleet of transports for the French islands, and probably to cruise to intercept the homeward and outward bound fleets of the enemy. This circumstance joined to the late loss of the convoy, has raised insurance prodigiously in London. The Parliament does not meet until the 28th of September. W. C. * * * * * TO THE COMMITTEE OF FOREIGN AFFAIRS. St Ildefonso, September 9th, 1780. Gentlemen, I did myself the honor of writing to you the 6th instant, via Cadiz, Bilboa, and France, informing you that the person mentioned in my letters of last month, as chosen by the Minister to succeed M. Miralles, had arrived here, and proves to be M. James Gardoqui, and that since his arrival, our affairs are once more in train. I also mentioned that the Ministry were negotiating loans, to answer extraordinary expenses. I expected to have been able to send the Committee a full account of the nature of these loans, as I founded my hopes of the Court's paying the bills drawn on Mr Jay, by means of the supplies obtained in this way. I am therefore very sorry to inform the Committee, that the success of the most considerable has not answered the expectations of the Ministers, and what is worse, they impute its failure to the interference of M. Necker and others, influenced by that Minister, which has created a soreness, that for the moment must be disagreeable to our ally, and may be disadvantageous to us, unless more important considerations obviate the ill effects to be apprehended from such disappointment, and the personal disgust and resentment consequent thereof. A person with whom I am well acquainted, is the projector of the loan abovementioned, and although for near three months I have known that such a measure was in agitation, I was not able to discover the plan, it having been preserved with great secrecy, in order to secure its successful and complete operation. As this measure is so far important to Congress, as it may influence the conduct of the Court with respect to money matters, and affect the credit of the nation in future, on which all the vigor of military operations in a great measure depends, I will endeavor to give the outlines of the money negotiation to the Committee, and will forward the plan and the King's ordinance thereon as soon as I receive them.