ng speculations have occupied some of
our countrymen to such a degree, as to give sincere uneasiness to those
who would rather see their capitals employed in commerce, manufactures,
buildings, and agriculture. The failure of Mr. Duer, the chief of that
description of people, has already produced some other bankruptcies, and
more are apprehended. He had obtained money from great numbers of small
tradesmen and farmers, tempting them by usurious interest, which
has made the distress very extensive. Congress will adjourn within a
fortnight. The President negatived their representation bill, as framed
on principles contrary to the constitution. I suppose another will
be passed, allowing simply a representative for every thirty or
thirty-three thousand, in each State. The troubles in the French island
continue extreme; we have, as yet, heard of the arrival but of a few
troops. There begins to be reason to apprehend, the negroes will perhaps
never be entirely reduced. A commission has issued to Mr. Carmichael and
Mr. Short, to treat with the court of Madrid on the subjects heretofore
in negotiation between us. I suppose Mr. Short will be in Madrid by the
last of May. We expect Major Pinckney here hourly, on his way to London,
as our Minister Plenipotentiary to that court. For a state of our
transactions in general, I refer you to the newspapers which accompany
this. I put under your cover letters and newspapers for Mr. Carmichael
and Mr. Barclay, which I pray you to contrive by some sure
conveyances. We must make you, for some time, the common centre of our
correspondence.

I am with great and sincere respect and esteem, Dear Sir, your most
obedient and most humble servant,

Th: Jefferson.

LETTER CIV.--TO MR. HAMMOND, April 12, 1792

TO MR. HAMMOND.

Philadelphia, April 12, 1792.

Sir,

I am this moment favored with the letter you did me the honor of writing
yesterday, covering the extract of a British statute forbidding the
admission of foreign vessels into any ports of the British dominions,
with goods or commodities of the growth, production, or manufacture of
America. The effect of this appears to me so extensive, as to induce
a doubt whether I understand rightly the determination to enforce it,
which you notify, and to oblige me to ask of you whether we are
to consider it as so far a revocation of the proclamation of your
government, regulating the commerce between the two countries, and that
henceforth