so. I set out therefore in the instant,
joined him at the Hague, and he readily concurred with me in the
necessity of our coming here to confer with our bankers on the measures
which might be proper and practicable. We are now engaged on this
subject, and the result, together with a full explanation of the
difficulties which commanded our attention, shall be the subject of a
letter which I shall do myself the honor of writing you by Mr. Adams,
to be forwarded by Colonel Smith, who will go in the English packet. I
avoid further particulars in the present letter, because it is to pass
through the different post-offices to Paris. It will be forwarded
thence by Mr. Short, whom I have desired to do himself the honor of
writing to you any occurrences since my departure, which may be worthy
of being communicated, by the French packet of this month. I have the
honor to be, with sentiments of the most perfect respect and esteem,
Sir, your most obedient, and most humble servant.

TO THE HON. JOHN JAY.

AMSTERDAM, March 16, 1788.

SIR,--In a letter of the 13th instant, which I had the honor of
addressing you from this place, I mentioned in general terms, the
object of my journey hither, and that I should enter into more
particular details, by the confidential conveyance which would occur
through Mr. Adams and Colonel Smith.

The board of treasury had, in the month of December, informed me and
our bankers here, that it would be impossible for them to make any
remittances to Europe for the then ensuing year, and that they must,
therefore, rely altogether on the progress of the late loan. But this,
in the meantime, after being about one-third filled, had ceased to get
forward. The bankers who had been referred to me for advice by Mr.
Adams, stated those circumstances, and pressed their apprehension for
the ensuing month of June, when two hundred and seventy thousand
florins would be wanting for interest. In fine, they urged an offer of
the holders of the former bonds to take all those remaining on hand,
provided they might receive out of them the interest on a part of our
domestic debt, of which they had also become the holders. This would
have been one hundred and eighty thousand florins. To this proposition
I could not presume any authority to listen. Thus pressed between the
danger of failure on one hand, and this proposition on the other, I
heard of Mr. Adams being gone to the Hague, to take leave. His
knowledge of t