wever friendly, has been too much relied upon. As a
proof I need only observe, that not a single State has acknowledged
our independence except France, although our alliance with that
respectable monarchy has now subsisted nearly four years. Yet that
monarchy is certainly the first in the world. It is in the closest
connexion with Spain. Spain has long been engaged in the war, and
still longer solicited to form a union upon the basis of the treaty
with France. The armed neutrality, which gave such splendid hopes to
many, has not yet produced the benefits expected. I will not proceed
on the ground of conjecture, nor is it necessary for me to dwell
longer on our political state with respect to foreign powers. But as
there is little reason to expect, so I hope there is no American, who
would wish an alliance with any empire on earth, until they shall be
so sensible of our importance, as to treat on principles of equality.

The public opinion, as to the conduct of other Princes and States, has
greatly injured us by relaxing our exertions. But the opinion as to
pecuniary aid has been still more pernicious. People have flattered
themselves with a visionary idea, that nothing more was necessary,
than for Congress to send a Minister abroad, and that immediately he
would obtain as much money as he chose to ask for. That, when he
opened a loan, hundreds would run to see who should have the honor of
subscribing to it, and the like. But surely a moment's reflection
should have convinced every reasonable man, that, without the clear
prospect of repayment, people will not part with their property. Have
the efforts in this country been so successful as to ground any hopes
from abroad? Or, is it to be supposed, that foreigners will interest
themselves more in our prosperity or safety, than our citizens? Or,
can it be believed, that credit will be given abroad before solid
funds are provided at home? Or, could it be imagined, that the
disorders necessarily incident to a great revolution, would be
considered as a better source of trust and confidence, than the
regularity and consistency of ancient establishments?

The Congress, conformably to the public wish, have appointed
Ministers, requested grants, and opened loans. In Holland they have
got nothing, and in Spain but very little. Loans were expected from
individuals in Holland, but nothing of that sort has been, or probably
will be, obtained. Loans were not expected in Spain, unless