or interest. Most of the subjects of France, having paper money, have deposited it in the hands of the French Minister or Consul at New York, that paiment may be demanded whenever it shall be provided by Congress. There are even speculators in America who will purchase it. But they give much less than it is worth. As for myself I do not deal in it. I am Sir your very humble servt.

TO THE SWEDISH EMBASSADOR AT PARIS.

(BARON STAHE.)

J. MSS.

PARIS June 12, 1786.

SIR,-In compliance with your Excellency's desire I will throw on paper such considerations as occur to me on the question "How may the island of St Bartholomews be rendered instrumental for promoting commerce between Sweden and the United States." They will be rapid, undigested & incomplete: but a desire of contributing to bind the two Countries together in interest, and a respect for your commands will induce me to hazard them. I shall make the interests of Sweden the basis of my theory because we have no right to expect her to depart from them in order to promote ours.

Antient nations considered Colonies principally as Receptacles for a too numerous population, and as natural & useful allies in times of war: but modern nations, viewing commerce as an object of first importance, value Colonies chiefly as Instruments for

the increase of that. This is principally effected by their taking commodities from the mother State, whether raised within herself, or obtained elsewhere in the course of her trade & furnishing in return Colonial productions necessary for her consumption or for her commerce of exchange with other nations. In this way the Colonies of Spain, Portugal, France and England have been chiefly subservient to the advantages of their Mother Country. In this way too in a smaller degree has Denmark derived utility from her American Colonies and so also Holland, except as to the Island of St. Eustatius. This is by nature a rock, barren and unproductive in itself, but its owners became sensible that what Nature had denied it, Policy could more than supply. It was conveniently situated for carrying on contraband trade with both the continents & with the islands of America. They made it therefore an entrepot for all nations. Hither are brought the productions of every other part of America and the Dutch give in exchange such articles as in the course of their commerce they can most advantageously gather up. And it is a question, on which they will not enable us to decide, whether by furnishing American productions to the commerce of Holland & by finding vent for such productions of the old world as the Dutch merchants obtain to advantage, the barren rock of saint Eustatius does not give more activity to their commerce & leave with them greater profits, than their more fertile possessions on the continent of South America. The Danes finding that their islands were capable of

yielding but moderate advantages by their native productions, have also laid them open to foreign commerce, in order to draw thro' them articles which they do not produce in themselves, or not in great quantities. But these nations, only half emancipated from the fetters of commercial prejudicies, have taken only half a step towards placing these institutions on their best footing. Both the Dutch & Danish freeports are under restrictions which discourage very much the operations of exchange in them.

The island of St. Bartholomew, lately ceded to Sweden, is, if I am rightly informed, capable of furnishing little of its own productions to that country. It remains then to make it the instrument for obtaining through its intermediation such American productions as Sweden can consume or dispose of, and for finding in return a vent for the native productions of Sweden. Let us suppose it then made a free port without a single restriction. These consequences will follow: 1. It will draw to itself that tide of commerce which at present sets towards the Dutch and Danish islands, because vessels going to these are often obliged to negotiate a part of their cargoes at saint Eustatius, and to go to saint Thomas's to negotiate the residue, whereas when they shall know that there is a port where all articles are free both for importation and exportation, they will go to that port which enables them to perform by one voiage the exchanges which hitherto they could only effect by two. 2. Every species of American produce, whether of the precious metals or commodities, which Sweden

may want for its own consumption or as aliment for its own commerce with other nations, will be collected either fairly or by contraband into the magazines of Saint Bartholomew. 3. All the productions which Sweden can furnish from within itself or obtain to advantage from other nations, will in like manner be deposited in the magazines of S Bartholomew, and will be carried to the several ports of America in paiment for what shall be taken from them.

If it be objected that this unrestrained license will give opportunity to the subjects of other nations to carry on exchanges there in which Sweden will be no ways interested: I say, 1. That there will be few of these operations into which the Swedish merchants will not be taken in the beginning or in the long run.

That there will be few of these exchanges into which Swedish productions will not enter, when productions of that nature are wanted in return. 3. But suppose neither Swedish merchants nor productions enter into the operation, what objections can Sweden have to other people's meeting in one of her ports to carry on their commercial exchanges? On the contrary, would not every enlightened nation be glad if all others would come to her as a common center for

commercial operations? If all the merchants who make the exchanges of commerce in Amsterdam, London, Lisbon, Leghorn, etc would go by common consent to perform these operations in Stockholm, would that wise Government obstruct such an assembly? If all the exchanges now made in the several parts of the two continents, & of the islands, of

America, in Philadelphia for instance, Charlestown, St Eustatius, Porto-bello, Rio Janeiro, were proposed to be transferred to the island of St Bartholomew would that island be rendered thereby less able to promote the commerce of the mother country?

These general observations have anticipated the answer to our question, How may the island of S Bartholomew be rendered instrumental to the particular commerce between Sweden and the United States? The United States have much occasion for the productions of Sweden, particularly for it's iron. For a part of this they can furnish indigo, rice, tobacco: and so far the exchange may be effected by the merchants of the two countries in the ports of the United States or of Sweden. The surplus of the want they cannot take at all unless Sweden will administer to them the means of paying for it. This she This she may do

Bartholomew

by receiving at St whatever productions they will bring. They will of course send there flour, saltfish, & other things wanting in the other ports of America, which by the Swedish merchants at St Bartholomew, will be run into those ports and exchanged for precious metals or commercial commodities or the American merchant taking on himself those operations will run his flour or salt fish into those ports himself, take cash or such commercial articles as suit Sweden, & go with these to S: Bartholomew to pay for the iron he wants.

The interest of the United States then is that St. Bartholomew be made a port of unlimited freedom, & such too is evidently the interest of Sweden.

If it