from the
appointment of Mr Morris, his known abilities, integrity, and
industry, the useful reformations he has begun, and the judicious
measures he is pursuing abroad, as well as at home, afford reason
to hope, that under his direction American credit will be
re-established, and the evils which have long threatened us on that
head avoided.

"It will be useless, therefore, to remark, how important it is to
prevent our credit from receiving a deep additional wound at the very
moment when so much is doing to recover it. The protest of any of our
public bills for want of payment would at this period be more
injurious than heretofore, and unless again saved by you, that cruel
necessity must take place with respect to those on me. Besides, as the
singular policy of drawing bills without previous funds will now be
relinquished, we have reason to flatter ourselves, that we shall in
future have no embarrassments of this kind to struggle with. I am well
persuaded, that Mr Morris will not pursue such hazardous and
unprecedented measures, and, therefore, as in all human probability
the present difficulties will be all that we shall have to surmount, I
hope you will think with me, that the utmost exertions should be made
for the purpose, and that after having done so much to save the credit
of American bills, you will still be disposed to do everything in your
power to put it out of danger.

"When it will be in my power to replace the sums drawn from you, is
hard to divine. All I can say or do is to assure you, that nothing but
want of ability shall delay or prevent it.

"When I consider how much might have been saved, had my bills on you
been sold to those who would have taken them on the best terms, I
cannot forbear thinking, it would be advisable to give me only general
authority to draw for such sums as I may want, not exceeding the one
you may limit.

"The sum wanted for October is twelve thousand five hundred and
sixtyseven dollars, and for November three thousand and six hundred.

"I particularise only the payments due in these two months, because,
before the first of December, I hope my expectations from other
quarters will at least be ascertained.

"I am, Dear Sir, with great and sincere regard and esteem, your
obliged and obedient servant,

JOHN JAY.

"_P. S._ The Marquis d'Yranda has received a letter from Mr Grand,
informing him that no more bills a