ill the
loan offices so quickly, as the necessary expenses call for supply. If
a loan of two millions sterling could be obtained, the high exchange
would enable Congress, by drawing on that fund, to call so large a
quantity of paper presently out of circulation, as to appreciate the
rest, and give time for taxation to work a radical cure. Without this
remedy of the evil, very pernicious consequences may follow ere long.

Our situation is rendered still worse by the impossibility of
supplying such products as America has largely in store, and which are
now greatly wanted in Europe, viz. tobacco, naval stores, rice,
indigo, &c. The great superiority of the enemy's naval fleet makes it
impossible to send those products in any quantity to sea, with a
tolerable prospect of safety. Thus we are prevented from sending you
the five thousand hogsheads of tobacco, which you have contracted for,
and which Congress has directed to be sent; although several thousands
have, for some time past, been purchased for payment of our debts in
France. The good intentions of our friends in that country are almost
entirely frustrated, by the exertions of the whole power of our
enemies by sea, to prevent our sending to, or receiving from Europe,
any thing whatever. A war in Europe would greatly and immediately
change the scene. The maritime force of France and Spain, with the
American cruisers, would quickly lessen the power of Great Britain in
the Western ocean, and make room for the reciprocal benefits of
commerce between us and our friends.

We have not been favored with a line from you since the 25th of May,
which we lament exceedingly, but of which we cannot complain, since we
doubt not but you have written, although we have not been so fortunate
as to receive your letters. We had reason from your promise to expect
a monthly packet, and this expectation prevented us from looking out
so early as we should have done for a vessel or two from ----. We have
heard, with pleasure, by means of Mr Carmichael, through Mr Bingham,
that Mr Lee had successfully accomplished his business at the Court of
Prussia.[47]

We remember that you informed us, the object which carried him to
Berlin was, besides procuring that Prince's acknowledgment of our
independence, obtaining open ports for our commerce, and the liberty
of selling our prizes therein. We hope the interference of that
powerful Prince will effectually prevent Russian or German
auxiliaries, fr