first object was to convince our bankers, that there was no power on this side the Atlantic which could accede to this proposition, or give it any countenance.  They at length, therefore, but with difficulty, receded from this ground, and agreed to enter into conferences with the brokers and lenders, and to use every exertion to clear the loan from the embarrassment in which this speculation had engaged it.  What will be the result of these conferences, is not yet known.  We have hopes, however, that it is not desperate, because the bankers consented yesterday, to pay off the capital of fifty-one thousand florins, which had become due on the first day of January, and which had not yet been paid.  We have gone still further.  The treasury board gives no hope of remittances, till the new government can procure them.  For that government to be adopted, its legislature assembled, its system of taxation and collection arranged, the money gathered from the people into the treasury, and then remitted to Europe, must extend considerably into the year 1790.  To secure our credit then, for the present year only, is but to put off the evil day to the next.  What remains of the last loan, when it shall be filled up, will little more than clear us of present demands, as may be seen by the estimate enclosed.  We thought it better, therefore, to provide at once for the years 1789 and 1790 also; and thus to place the government at its ease, and her credit in security, during that trying interval.  The same estimate will show, that another million of florins will be necessary to effect this.  We stated this to our bankers, who concurred in our views, and that to ask the whole sum at once would be better than to make demands from time to time, so small, as that they betray to the money-holders the extreme feebleness of our resources.  Mr. Adams, therefore, has executed bonds for another million of florins; which, however, are to remain unissued till Congress shall have ratified the measure that this transaction is something or nothing, at their pleasure.  We suppose its expediency so apparent, as to leave little doubt of its ratification.  In this case, much time will have been saved by the execution of the bonds at this moment, and the proposition will be presented here under a more favorable appearance, according to the opinion of the bankers.  Mr. Adams is under a necessity of setting out to-morrow morning, but I shall stay two or three days longer, to attend to and encourage the efforts of the bankers; though it is yet doubtful whether they will ensure us a safe passage over the month of June.  Not having my letters here to turn to, I am unable to say whether the last I wrote, mentioned the declaration of the Emperor that he should take part in the war against the Turks.  This declaration appeared a little before, or a little after that letter, I do not recollect which.  Some little hostilities have taken place between them.  The court of Versailles seems to pursue immoveably its pacific system, and from every