eared to me expedient that he should wish us
well, and be our banker. Some advantages have arisen from it, and they
would probably have been greater, if not opposed by the great and
unfriendly influence of M. Del Campo. At the same time that I blame M.
Cabarrus, I cannot but pity him, for there is much reason to consider
him in the light of the _scape goat_.

I have now employed Messrs Drouilhet to do our business; that house is
one of the most considerable here in the banking way.

I showed Dr Franklin's letter to the Ambassador of France, and made
him my acknowledgments for the generous supply afforded by his Court
to ours. He seemed very happy on the occasion, and regretted it had
not been done a little sooner.

His secretary remarked to me, that Spain would suspect that this
subsidy had been granted in consequence of the protest of our bills,
and that this Court would make it the cause of complaint against
France.

The Court left the Pardo, and passed the Easter holidays at Madrid. I
denied myself the honor of waiting on the Minister on that occasion,
nor have I seen him since the protest of our bills. My judgment, as
well as my feelings, approved of this omission. The Court are now at
Aranjues, where I have taken a house, and purpose to go soon after
these despatches shall be completed.

On the 30th of March I was surprised by the following note, being the
first of the kind which I have received from the Minister since my
arrival.

Translation.

"The Count de Florida Blanca has been to take the orders of V. S.[2]
for Aranjues, where he hopes to have the honor of the company of V. S.
at his table, every Saturday after the 11th of May next ensuing."

This invitation is imputable to the late news from England, and the
grant of six millions by France was probably accelerated by it. Both
Courts are watching and jealous of us. We are at peace with Spain, and
she neither will nor indeed can grant us a present subsidy. Why then
should we be anxious for a treaty with her, or make sacrifices to
purchase it? We cannot now treat with her on terms of equality, why
therefore not postpone it? It would not perhaps be wise to break with
her; but delay is in our power, and resentment ought to have no
influence.

Time would secure advantages to us, which we should now be obliged to
yield. Time is more friendly to young than to old nations, and the day
will come when our strength will insur