he small fibres of republicanism existing among them. I can
further say, with safety, there is not a crowned head in Europe, whose
talents or merits would entitle him to be elected a vestryman by the
people of any parish in America. However, I shall hope, that before
there is danger of this change taking place in the office of President,
the good sense and free spirit of our countrymen will make the changes
necessary to prevent it. Under this hope, I look forward to the general
adoption of the new constitution with anxiety, as necessary for us under
our present circumstances. I have so much trespassed on your patience
already, by the length of this letter, that I will add nothing further,
than those assurances of sincere esteem and attachment, with which I
have the honor to be, your Excellency's most obedient and most humble
servant,

Th: Jefferson.

LETTER CXXXIII.--TO JAMES MADISON, May 3,1788

TO JAMES MADISON.

Paris, May 3,1788.

Dear Sir,

Mine of February the 6th acknowledged the receipt of yours of December
the 9th and 20th; since that, those of February the 19th and 20th have
come to hand. The present will be delivered you by Mr. Warville, whom
you will find truly estimable, and a great enthusiast for liberty. His
writings will have shown you this.

For public news, I must refer you to my letters to Mr. Jay. Those
I wrote to him from Amsterdam will have informed you of my journey
thither. While there, I endeavored to get, as well as I could, into the
state of national credit there; for though I am an enemy to the using
our credit but under absolute necessity, yet the possessing a good
credit I consider as indispensable, in the present system of carrying on
war. The existence of a nation having no credit, is always precarious.
The credit of England is the best. Their paper sells at par on the
exchange of Amsterdam, the moment any of it is offered, and they can
command there any sum they please. The reason is, that they never
borrow, without establishing taxes for the payment of the interest, and
they never yet failed one day in that payment. The Emperor and Empress
have good credit enough. They use it little and have been ever punctual.
This country cannot borrow at all there; for though they always pay
their interest within the year, yet it is often some months behind. It
is difficult to assign to our credit its exact station in this scale.
They consider us as the most certain nation on earth f