e Spanish Funds, which on the King's arrival were at 85, are now at
50. The Revenue is less than 20 millions of Dollars, the expenditure
nearly 50.

Spain is likely to be in as bad a state as ever, excepting the presence
of a French Army; consequently I conceive their Transatlantic Dominions
will be lost to them.

Nothing, however, could be more favourable to our Commerce than their
emancipation. Such an event, and a proper Boundary between us and the
American States, would be the most favourable result of the war to this
country.

There is an uncommonly good Pamphlet published on this subject entitled
"A completed View of the points to be discussed in treating with the
American States." I cannot do less than admire it, because it seems
taken from my shop, or at least it adopts all the principles, with a
considerable amelioration, by taking the Line of Mountains into the
Lakes, and all the Lakes within our Boundary.

I am very much entertained with an Anecdote in a letter of the 8th inst.
now before me, from Switzerland, which states that the Princess of Wales
dined a few days before with the Empress Maria Louisa and the
Archduchess Constantine,[99] at Berne, and after dinner the Empress and
Princess sang Duets, and the Archduchess accompanied them. Two years ago
nobody would have believed such an event possible.

All this vagabond Royalty is found extremely troublesome by travellers,
filling up all the beds, and carrying away all the horses. The above
dinner party reminds me of Candide meeting at the Table d'Hote during
the Carnival at Venice, with two ex-emperors, and a few ex-kings.

The Princess of Wales could not be prevailed on to remain more than ten
days at Brunswick. She left Lady Charlotte Lindsay[100] and Serinyer
behind her, and proceeded with Lady Elizabeth Forbes to Strasburg, where
she found Talma, the renowned Actor, and halted there ten days.

_Lord Sheffield to Sir John Stanley._

SHEFFIELD PLACE, _February 1, 1815_.

We are much entertained with Fred Douglas's[101] account of his visit of
four days to the Isle of Elba.

On the third evening he had an interview with Buonaparte for an hour and
a half--the conversation very curious. He says that Buonaparte is not at
all like any of his Prints; that he is a stout, thick-set figure, which
makes him look short; his features rather coarse and his eyes very
light, and particularly dull; but his mouth, when he smiles, is full of
a very sweet, goo