three years consumption. However for fear of error I will call it two years; because were the bail silent on this head they would certainly have always on hand one year's stock ready for manufacture, and one year's stock manufactured. There is no extensive manufacture which does not find that it has on hand generally two year's stock of goods. As the Farmers buy their tobacco for ready money (and I know they even advance money) they lay out of their money two years. This interest must therefore be added, and the estimate will stand thus

22 millions of pounds weight of tobacco at 6 sous cost the cost of manufacture is I sot the pound,

guards & to prevent contraband

revenue paid annually to the king

interest on the whole for 2. years @ 5. pr cent

they sell annually but 13.850.000 which at 3-10 brings them they lose annually then by the farm of tobacco

# 11.600.000

692.500

5.000.000

28.000.000

4.529.500

thus, according to their own shewing, the King should in favor to them, discontinue the bail; and they cannot ask it's continuance without acknowleging they have given in a false state of quantities & sums.

TO THE SECRETARY FOR FOREIGN AFFAIRS.

(JOHN JAY.)

J. MSS.

LONDON, Mar. 12. 1786.

DEAR SIR,-The date of a letter from London will doubtless be as unexpected to you as it was unforeseen by myself a few days ago. On the 27th of the

last month Col: Smith arrived in Paris with a letter from Mr. Adams informing me that there was at this place a minister from Tripoli having general powers to enter into treaties on behalf of his state, and with whom it was possible we might do something in our Commission to that power and that he gave reason to believe he could also take arrangements with us for Tunis: he further added that the minister of Portugal here had received ultimate instructions from his court, and that probably that treaty might be concluded in the space of three weeks were we all on the spot together. He therefore pressed me to come over immediately. The first of these objects had some weight in my mind, because as we had sent no person to Tripoli or Tunis I thought if we could meet a minister from them on this ground our arrangements would be settled much sooner & at less expence. But what principally decided with me was the desire of bringing matters to a conclusion with Portugal before the term of our commission should expire or any new turn in the negotiations of France & England should abate their willingness to fix a connection with us. A third motive had also it's weight. I hoped that my attendance here, and the necessity of shortening it, might be made use of to force a decisive answer from this court. I therefore concluded to comply with Mr. Adams's request. I went immediately to Versailles and apprised the Count de Vergennes that circumstances of public duty called me hither for three or four weeks, arranged with him. some matters, and set out with Col: Smith for this

place where we arrived last night, which was as early as the excessive rigour of the weather admitted. I saw Mr. Adams immediately, & again to-day. He informs me that the minister of Portugal was taken ill five or six days ago, has been very much so, but is now somewhat better. It would be very mortifying indeed should this accident, with the shortness of the term to which I limit my stay here, defeat what was the principal object of my journey, and that without which I should hardly have undertaken it. With respect to this country, I had no doubt but that every consideration had been urged by Mr. Adams which was proper to be urged. Nothing remains undone in this way. But we shall avail ourselves of our journey here as if made on purpose, just before the expiration of our commission, to form our report to Congress on the execution, of that Commission, which report they may be given to know cannot be formed without decisive information of the ultimate determination of their court.

There is no doubt what that determination will be: but it will be useful to have it: as it may put an end to all further expectations on our side of the water, and shew that the time is come for doing whatever is to be done by us for counteracting the unjust & greedy designs of this country. We shall have the honour, before I leave this place to inform you of the result of the several matters which have brought me to it.

A day or two before my departure from Paris I received your letter of Jan. The question therein proposed How far France considers herself as bound

to insist on the delivery of the posts, would infallibly produce another, How far we consider ourselves as guarantees of their American possessions & bound to enter into any future war in which these may be attacked? The words of the treaty of alliance seem to be without ambiguity on either head, yet I should be afraid to commit Congress by answering without authority. I will endeavor on my return to sound the opinion of the minister if possible without exposing myself to the other question. Should anything forcible be meditated on those posts, it would possibly be thought prudent previously to ask the good offices of France to obtain their delivery. In this case they would probably say we must first execute the treaty on our part by repealing all acts which have contravened it. Now this measure, if there be any candour in the court of London, would suffice to obtain a delivery of the posts from them, without the mediation of any third power. However if this mediation should be finally needed I see no reason to doubt our obtaining it, and still less to question its omnipotent influence on the British court.

TO ALEXANDER MCCAUL.

LONDON Apr. 19. 1786.

DEAR SIR,-Your favor of Mar. 30 came to hand some days ago, and renewed the recollection of a friendship among the earliest I formed in life, and which neither time nor events have weakened at any

moment since. I wish it were in my power to inform you that arrangements were at length taken between the two nations for carrying into complete execution the late treaty of peace, and for settling those conditions which are essential to the continuance of a commerce between them. I suppose all arrangement is thought unnecessary here, as the subject has not been deemed worthy of a conference. Both nations are left to pursue their own measures and it is not easy to foresee what these will be. Each has complaints on the subject of the late treaty. We, that but one post out of six or eight within our limits has yet been evacuated by the British troops; and that a great number of slaves were brought away contrary to stipulation, on the other part it is urged that we have thrown obstructions in the way of the recovery of the debts due to the merchants of this country. There are two circumstances of difficulty in the paiment of these debts. To speak of the particular state with which you & I are best acquainted, we know that it's debt is ten times the amount of it's circulat

ing cash. To pay that debt at once then is a physical impossibility. Time is requisite. Were all the creditors to rush to judgment together, a mass of two millions of property would be brought to market where there is but the tenth of that sum of money in circulation to purchase it. Both debtor and creditor would be ruined, as debts would be thus rendered desperate which are in themselves good. Of this truth I find the merchants here sufficiently sensible, & I have no doubt we should have arranged the article of time