SIR,--I wrote you on the 23d, and yesterday I received yours of the 17th, which was the more welcome as it acknowledged mine of the 9th, about the safety of which I was anxious. I now risk some other papers, the sequel of those conveyed in that. The result I know not. We are sending a courier to Madrid to make a last effort for the preservation of honorable peace. The affairs of France are recovering their solidity, and from the steadiness of the people on the defection of so popular and capital a commander as Dumourier, we have a proof that nothing can shake this republicanism. Hunger is to be expected; but the silence of the late papers on that head, and the near approach of harvest, makes us hope they will weather that rock. I do not find that there has been serious insurrection but in Brittany, and where the noblesse having been as numerous as the people, and indeed being almost the people, the counter-revolutionary spirit has been known always to have existed since the night in which titles were suppressed. The English are trying to stop the torrent of bankruptcies by an emission of five millions of exchequer bills, loaned on the pawn-broking plan, consequently much inferior to the assignats in value. But that paper will sink to an immediate level with their other public paper, and consequently can only complete the ruin of those who take it from government at par, and on a pledge of pins, buckles, &c., of little value, which will not sell so as to pay storage in a country where there is no specie, and we may say no paper of confidence. Every letter which comes expresses a firm belief that the whole paper system will now vanish into that nothing on which it is bottomed. For even the public faith is nothing as the mass of paper bottomed on it is known to be beyond its possible redemption. I hope this will be a wholesome lesson to our future Legislature. The war between France and England has brought forward the Republicans and Monocrats in every State, so that their relative numbers are perfectably visible. TO MESSRS. CARMICHAEL AND SHORT. PHILADELPHIA, June 30, 1793.