The King of Sweden will act as nobody, not even himself, can foresee; because he acts from the caprice of the moment, and because the discontents of his army and nobles may throw him under internal difficulties, while struggling with external ones.  Denmark will probably only furnish its stipulated aid to Russia.  France is fully occupied with internal arrangements.  So that, on the whole, the prospect of this summer is, that the war will continue between the powers actually engaged in the close of the last campaign, and extend to no others; certainly it will not extend, this year, to the southern States of Europe.  The revolution of France has gone on with the most unexampled success, hitherto.  There have been some mobs, occasioned by the want of bread, in different parts of the kingdom, in which there may have been some lives lost; perhaps a dozen or twenty.  These had no professed connection, generally, with the constitutional revolution.  A more serious riot happened lately in Paris, in which about one hundred of the mob were killed.  This execution has been universally approved, as they seemed to have no view but mischief and plunder.  But the meeting of the States General presents serious difficulties, which it had been hoped the progress of reason would have enabled them to get over.  The nobility of and about Paris have come over, as was expected, to the side of the people, in the great question of voting by persons or orders.  This had induced a presumption, that those of the country were making the same progress, and these form the great mass of the deputies of that order.  But they are found to be where they were centuries ago, as to their disposition to keep distinct from the people, and even to tyrannize over them.  They agree, indeed, to abandon their pecuniary privileges.  The clergy seem at present much divided.  Five-sixths of that representation consists of the lower clergy, who, being the sons of the peasantry, are very well with the Tiers-Etat.  But the Bishops are intriguing, and drawing them over daily.  The Tiers-Etat is so firm to vote by persons or to go home, that it is impossible to conjecture what will be the result.  This is the state of parties, as well as we can conjecture from the conversation of the members; for as yet no vote has been given, which will enable us to calculate on certain ground.

Having formerly written to you on the subject of our finances, I enclose you now an abstract of a paper on that subject, which Gouverneur Morris communicated to me.  You will be a better judge of its merit than I am.  It seems to me worthy good attention.