a proposal to establish a
National Bank; the plan of which I take the liberty to enclose. The
subscriptions to it are going on, and I expect the very moderate sum
therein proposed will soon be completed. When that is done, the
directors will be chosen, incorporated, and proceed on their business.
As the bank notes are intended to be made use of by government in
anticipation of the revenues of this country, you will easily
perceive, that the sum proposed is far short of the object, which it
is intended to accomplish. My present pursuit, therefore, is to obtain
such additional sums as will, when deposited in the bank, not only
facilitate the anticipations above mentioned, but induce further
subscriptions among our own countrymen. For when they see and feel the
use of an institution, which they are yet unacquainted with, they will
cheerfully and liberally support it.

It is to your Excellency that I apply for foreign aid. The vicinity of
your situation, the frequent intercourse between your port and this,
and your ability to comply with what I shall request, all point out
the propriety of that application. Your friendly disposition towards
these United States, and above all your strong attachment to the
interests of your own country, will dispose you to yield me every
assistance in your power. The United States have already received very
considerable aid from the Court of Madrid. Much more, however is
expected,[35] and in time to come these services will be repaid with
honor, as they now are acknowledged with gratitude.

Our distresses induced Congress to order certain bills of exchange to
be drawn on their Ministers at the Courts of Versailles and Madrid.
The former have been all negotiated and paid off by the assistance of
that Court. Many of the latter have also been negotiated, and those
that have appeared for payment have been discharged. There is every
reason to believe, that this would still happen; but we learn that the
advance of money in Europe is rendered inconvenient during the war,
by the impediments, which it occasions to the usual course of
remittances from his Majesty's American territories. We have desisted,
therefore, from the further sale of those bills, especially as we have
reason to expect, that in consequence of measures adopted here, Mr Jay
will obtain from your country a much larger sum than we had before
asked for; and that the greater part, if not the whole of it, will be
paid to us at your po