or nothing, whereby the creditor
would have failed to receive his money, and the debtor would have lost
his whole estate, without being discharged of his debt. This is the
history of the delay of justice in that country, in the case of British
creditors. As to all others, its administration is as speedy as justice
itself will admit. I presume it is equally so in all the other States,
and can add, that it is administered in them all with a purity and
integrity, of which few countries afford an example.

I cannot take leave, altogether, of the subjects of this conversation,
without recalling the attention of the Count de Vergennes to what had
been its principal drift. This was to endeavor to bring about a direct
exchange between France and the United States, (without the intervention
of a third nation) of those productions, with which each could furnish
the other. We can furnish to France (because we have heretofore
furnished to England) of whale-oil and spermaceti, of furs and peltry,
of ships and naval stores, and of potash, to the amount of fifteen
millions of livres; and the quantities will admit of increase. Of our
tobacco, France consumes the value of ten millions more. Twenty-five
millions of livres, then, mark the extent of that commerce of exchange,
which is, at present, practicable between us. We want, in return,
productions and manufactures, not money. If the duties on our produce
are light, and the sale free, we shall undoubtedly bring it here, and
lay out the proceeds on the spot, in the productions and manufactures
which we want. The merchants of France will, on their part, become
active in the same business. We shall no more think, when we shall have
sold our produce here, of making an useless voyage to another country,
to lay out the money, than we think, at present, when we have sold it
elsewhere, of coming here to lay out the money. The conclusion is, that
there are commodities which form a basis of exchange, to the extent of a
million of guineas annually: it is for the wisdom of those in power, to
contrive that the exchange shall be made.

Having put this paper into the hands of Monsieur Reyneval, we entered
into conversation again, on the subject of the Farms, which were now
understood to be approaching to a conclusion. He told me, that he was
decidedly of opinion, that the interest of the State required the Farm
of tobacco to be discontinued, and that he had, accordingly, given every
aid to my propo