in exchange for her merchandise:  but, at present, these articles are to be counted as nothing. 2.  Potash.  An experiment is making whether this can be brought here.  We hope it may, but at present it stands for nothing.  He observed that it was much wanted in France, and he thought it would succeed. 3.  Naval stores.  Trials are also making on these, as subjects of commerce with France.  They are heavy, and the voyage long.  The result, therefore, is doubtful.  At present, they are as nothing in our commerce with this country. 4.  Whale-oil:  I told him I had great hopes, that the late diminution of duty would enable us to bring this article with advantage, to France:  that a merchant was just arrived (Mr. Barrett), who proposed to settle at L’Orient, for the purpose of selling the cargoes of this article, and choosing the returns.  That he had informed me, that in the first year, it would be necessary to take one third in money, and the remainder only in merchandise; because the fishermen require, indispensably, some money.  But he thought that after the first year, the merchandise of the preceding year would always produce money for the ensuing one, and that the whole amount would continue to be taken annually afterwards, in merchandise.  I added, that though the diminution of duty was expressed to be but for one year, yet I hoped they would find their advantage in renewing and continuing it:  for that if they intended really to admit it for one year only, the fishermen would not find it worth while to rebuild their vessels and to prepare themselves for the business.  The Count expressed satisfaction on the view of commercial exchange held up by this article.  He made no answer as to the continuance of it; and I did not choose to tell him, at that time, that we should claim its continuance under their treaty with the Hanseatic towns, which fixes this duty for them, and our own treaty, which gives us the rights of the most favored nation. 5.  Tobacco.  I recalled to the memory of the Count de Vergennes the letter I had written to him on this article; and the object of the present conversation being, how to facilitate the exchange of commerciable articles between the two countries, I pressed that of tobacco in this point of view; observed that France, at present, paid us two millions of livres for this article; that for such portions of it as were bought in London, they sent the money directly there, and for what they bought in the United States, the money was still remitted to London, by bills of exchange:  whereas, if thy would permit our merchants to sell this article freely, they would bring it here, and take the returns on the spot, in merchandise, not money.  The Count observed, that my proposition contained what was doubtless useful, but that the King received on this article, at present, a revenue of twenty-eight millions, which was so considerable, as to render them fearful of tampering with it; that the collection of this revenue by way of Farm, was of very ancient date, and that