herein enclosed. The length of this despatch, perhaps, needs
apology. Yet I have not been able to abridge it, without omitting
circumstances which I thought Congress would rather choose to know.
Some of the objects of these conferences present but small hopes for the
present, but they seem to admit a possibility of success at some future
moment.

*****

I am, Sir, your most obedient

and most humble servant,

Th: Jefferson.

[The following is an extract from the report referred to in
the preceding letter, embracing every thing interesting
therein, not communicated to the reader in the previous
correspondence.]

*****

The next levee day at Versailles, I meant to bring again under the
view of the Count de Vergennes, the whole subject of our commerce with
France; but the number of audiences of ambassadors and other ministers,
which take place, of course, before mine, and which seldom, indeed,
leave me an opportunity of audience at all, prevented me that day. I was
only able to ask of the Count de Vergennes, as a particular favor, that
he would permit me to wait on him some day that week. He did so, and I
went to Versailles the Friday following, (the 9th of December.) M.
de Reyneval was with the Count. Our conversation began with the usual
topic; that the trade of the United States had not yet learned the way
to France, but continued to centre in England, though no longer obliged
by law to go there. I observed, that the real cause of this was to
be found in the difference of the commercial arrangements in the two
countries; that merchants would not, and could not, trade but where
there was to be some gain; that the commerce between two countries could
not be kept up, but by an exchange of commodities; that, if an American
merchant was forced to carry his produce to London, it could not be
expected he would make a voyage from thence to France, with the money,
to lay it out here; and, in like manner, that if he could bring his
commodities with advantage to this country, he would not make another
voyage to England, with the money, to lay it out there, but would take
in exchange the merchandise of this country. The Count de Vergennes
agreed to this, and particularly, that where there was no exchange of
merchandise, there could be no durable commerce; and that it was natural
for merchants to take their returns in the port where they sold their
cargo. I desired his permission then, to take a summar