But we all know that five millions of such stuff forced for sale on the market of London, where there will be neither cash nor credit, will not pay storage. This paper must rest then ultimately on the credit of the nation as the rest of their public paper does, and will sink with that. If either this takes place, or the confederacy is unsuccessful, we may be clear of war with England. With respect to the increase of our shipping, our merchants have no need, you know, of a permission to buy up foreign bottoms. There is no law prohibiting it, and when bought they are American property, and as such entitled to pass freely by our treaties with some nations, and by the law of nations with all. Such accordingly, by a determination of the Executive, will receive American passports. They will not be entitled indeed to import goods on the low duties of _home-built_ vessels, the laws having confined that privilege to these only. We have taken every possible method to guard against fraudulent conveyances, which, if we can augment our shipping to the extent of our own carriage, it would not be our interest to cover. I enclose you a note from Freneau, explaining the interruption of your papers. I do not augur well of the mode of conduct of the new French minister; I fear he will enlarge the evils of those disaffected to his country. I am doing everything in my power to moderate the impetuosity of his movements, and to destroy the dangerous opinions which has been excited in him, that the people of the United States will disavow the acts of their government, and that he has an appeal from the Executive to Congress, and from both to the people. Affairs with the Creeks seem to present war there as inevitable, but that will await for you. We have no news from the northern commissioners, but of the delay likely to be attempted by the Indians; but as we never expected peace from the negotiation, I think no delay will be admitted which may defeat our preparations for a campaign. Crops here are likely to be good, though the beginning of the harvest has been a little wet. I forgot whether I informed you that I had chosen a house for you, and was determined in the choice by the southern aspect of the back buildings, the only circumstance of difference between the two presented to my choice. Give my best love to Mrs. Monroe, and be assured of the affectionate esteem of, dear Sir, your friend and servant. TO J. MADISON. June 29, 1793.