In surveying the scenes of which we make a part, I confess that three frigates taken by our gallant little navy, do not balance in my mind three armies lost by the treachery, cowardice, or incapacity of those to whom they were intrusted. I see that our men are good, and only want generals. We may yet hope, however, that the talents which always exist among men will show themselves with opportunity, and that it will be found that this age also can produce able and honest defenders of their country, at what further expense, however, of blood and treasure, is yet to be seen. Perhaps this Russian mediation may cut short the history of the present war, and leave to us the laurels of the sea, while our enemies are bedecked with those of the land. This would be the reverse of what has been expected, and perhaps of what was to be wished. I have never seen the work on Political Economy, of which you speak. Say and Tracy contain the sum of that science as far as it has been soundly traced in my judgment. And it is a pity that Say's work should not, as well as Tracy's, be made known to our countrymen by a good translation. It would supplant Smith's book altogether, because shorter, clearer and sounder. Accept my friendly salutations and assurances of continued esteem and respect. TO THE PRESIDENT OF THE UNITED STATES. MONTICELLO, May 21, 1813. DEAR SIR,--The enclosed letter from Whit was unquestionably intended for you. The subject, the address, both of title and place, prove it, and the mistake of the name only shows the writer to be a very uninquisitive statesman. Dr. Waterhouse's letter, too, was intended for your eye, and although the immediate object fails by previous appointment, yet he seems to entertain further wishes. I enclose, too, the newspapers he refers to, as some of their matter may have escaped your notice, and the traitorous designs fostered in Massachusetts, and explained in them, call for attention.