The next levee day at Versailles, I meant to bring again under the view of the Count de Vergennes, the whole subject of our commerce with France; but the number of audiences of ambassadors and other ministers, which take place, of course, before mine, and which seldom, indeed, leave me an opportunity of audience at all, prevented me that day.  I was only able to ask of the Count de Vergennes, as a particular favor, that he would permit me to wait on him some day that week.  He did so, and I went to Versailles the Friday following, (the 9th of December.) M. de Reyneval was with the Count.  Our conversation began with the usual topic; that the trade of the United States had not yet learned the way to France, but continued to centre in England, though no longer obliged by law to go there.  I observed, that the real cause of this was to be found in the difference of the commercial arrangements in the two countries; that merchants would not, and could not, trade but where there was to be some gain; that the commerce between two countries could not be kept up, but by an exchange of commodities; that, if an American merchant was forced to carry his produce to London, it could not be expected he would make a voyage from thence to France, with the money, to lay it out here; and, in like manner, that if he could bring his commodities with advantage to this country, he would not make another voyage to England, with the money, to lay it out there, but would take in exchange the merchandise of this country.  The Count de Vergennes agreed to this, and particularly, that where there was no exchange of merchandise, there could be no durable commerce; and that it was natural for merchants to take their returns in the port where they sold their cargo.  I desired his permission then, to take a summary view of the productions of the United States, that we might see which of them could be brought here to advantage.

1.  Rice.  France gets from the Mediterranean a rice not so good indeed, but cheaper than ours.  He said that they bought of our rice, but that they got from Egypt, also, rice of a very fine quality.  I observed that such was the actual state of their commerce in that article, that they take little from us. 2.  Indigo.  They make a plenty in their own colonies.  He observed that they did, and that they thought it better than ours. 3.  Flour, fish, and provisions of all sorts, they produce for themselves.  That these articles might, therefore, be considered as not existing, for commerce, between the United States and the kingdom of France.

I proceeded to those capable of becoming objects of exchange between the two nations. 1.  Peltry and furs.  Our posts being in the hands of the English, we are cut off from that article.  I am not sure even, whether we are not obliged to buy of them, for our own use.  When these posts are given up, if ever they are, we shall be able to furnish France with skins and furs, to the amount of two millions of livres,