Russia, for forming a commercial company at Emden. We shall
put them into the hands of Mr Lee.

We do not see a probability of our obtaining a loan of two millions
sterling, from any of the money holders in Europe, till our affairs
are, in their opinion, more firmly established. What may be obtained
from the two crowns, either as loan or subsidy, we shall probably
know on the return of the couriers, and we hope we shall be able to
write more satisfactory on those heads by Captain Young, who will, by
that time, be ready to return.

With the greatest respect, we have the honor to be, &c.

B. FRANKLIN,
SILAS DEANE,
ARTHUR LEE.

* * * * *

FROM THE COMMITTEE OF FOREIGN AFFAIRS TO THE COMMISSIONERS.

Yorktown, 18th October, 1777.

Gentlemen,

We have the pleasure of enclosing to you the copy of a letter from
General Gates, containing the circumstances of a victory gained over
General Burgoyne, on the 7th. This event must defeat the main views of
General Clinton, in proceeding up Hudson's river. He has, it is true,
got possession of fort Montgomery, but with much loss, as we hear.
Though the enemy should boast much of this acquisition, yet we are
persuaded the consequences will be very little profitable to them, as
Governor Clinton, of New York, and his brother General James Clinton,
are acting vigorously in concert with General Putnam, who commands in
that quarter.

Our army under General Washington is numerous and in high spirits,
while General Howe is busied in forming obstructions in the roads
leading to the city of Philadelphia, by which he supports the hopes of
keeping our troops from routing him out of his stolen quarters. The
enclosed resolves need no comment from us, being sufficient of
themselves to determine your conduct in the points to which they
relate. It is with concern we find, that British property has lately
been covered by conveyance in French bottoms, which practice pursued,
and American search disliked by France, it is obvious, that the most
vulnerable part of Great Britain, her commerce, will be secured
against us, and that by the intervention of our professed friends. We
desire, therefore, gentlemen, that you will confer with the ministers
of