premise, that the obtaining a loan, and setting on
foot a naval force, are so connected with, and dependent on each
other, and so many important consequences depend on both, that I have
preferred placing one directly after the other, that my ideas on these
great subjects may be perceived at one view, rather than the placing
them in any manner separate or disjointed from each other. Without a
naval force sufficient to protect in some degree our commerce as it
revives, it will be very difficult, if not impossible, to pay either
the principal or interest of the money we may borrow, and without some
probably certain prospect of doing this, it would hardly be honest to
borrow at all. I have only to add, that the following calculations are
not founded on light and uncertain estimates, but on the most certain
knowledge of the quantity of each of those articles necessary for the
purpose. The prices are fixed at what they were last season in Sweden,
and in the north of Europe; what I have ventured to say respecting
ships of a new construction carrying fortytwo to fortyeight cannon,
being equal to sixtyfour and even seventyfour line of battle ships, I
am convinced of the truth of, not merely from my own observation and
reasoning on the subject, but from the opportunities I have had of
conversing with some of the most able and experienced constructors and
commanders of ships in Europe, as well as in America. France, as well
as England, has already several ships of such a plan on the stocks,
which is a full proof in what light they view this plan of building;
but fortunately for these States, their old prejudices, as well as
the opposition of commanders of large ships, and a great number of
men, to the changing them for ships of a less rate and fewer men, as
well as of less pomp and appearance, will in a great measure prevent
either of those nations from much immediate success in this plan for
an improvement or reform.

1st. A fleet consisting of twenty such ships as mentioned above,
joined by twenty frigates from twentyfour to thirtysix guns, will be
sufficient to guard this coast against any naval force, which Great
Britain, or any other maritime power can spare, to send against us. An
American fleet, opposing a foreign one on this coast, will always have
many very decisive circumstances in their favor, which are obvious at
first view, particularly that of clean ships and healthy men against
foul ships and sickly men, or fatigued