In some of my former letters, I suggested an opportunity of obliging the court, by borrowing as much money in Holland as would pay the debt due here, if such a loan could be obtained; as to which, I was altogether ignorant.  To save time, I wrote to Mr. Dumas, to know whether he thought it probable a loan could be obtained, enjoining on him the strictest secrecy, and informing him I was making the inquiry merely of my own motion, and without instruction.  I enclose you his answer.  He thinks purchasers of the debt could be found, with a sacrifice of a small part of the capital, and a postponement be obtained of some of the first reimbursements.  The proposition by him, for an immediate adoption of this measure by me, was probably urged, on his mind by a desire to serve our country, more than a strict attention to my duty, and the magnitude of the object.  I hope, on the contrary, that if it should be thought worth a trial, it may be put into the hands of Mr. Adams, who knows the ground, and is known there, and whose former successful negotiations in this line would give better founded hopes of success on this occasion.

I formerly mentioned to you the hopes of preferment, entertained by the Chevalier de la Luzerne.  They have been baffled by events; none of the vacancies taking place which had been expected.  Had I pressed his being ordered back, I have reason to believe the order would have been given.  But he would have gone back in ill humor with Congress, he would have laid for ever at their door the failure of a promotion then viewed as certain; and this might have excited dispositions that would have disappointed us of the good we hoped from his return.  The line I have observed with him has been, to make him sensible that nothing was more desired by Congress than his return, but that they would not willingly press it, so as to defeat him of a personal advantage.  He sees his prospects fail, and will return in the approaching spring unless something unexpected should turn up in his favor.  In this case, the Count de Moutier has the promise of succeeding to him, and if I do not mistake his character, he would give great satisfaction.  So that I think you may calculate on seeing one or the other, by midsummer.

It had been suspected that France and England might adopt those concerted regulations of commerce for their West Indies, of which your letter expresses some apprehensions.  But the expressions in the 4th, 5th, 7th, 11th, 18th, and other articles of their treaty, which communicate to the English the privileges of the most favored European nation only, has lessened, if not removed those fears.  They have clearly reserved a right of favoring, specially, any nation not European; and there is no nation out of Europe, who could so probably have been in their eye at that time, as ours.  They are wise.  They must see it probable, at least, that any concert with England will be but of short duration; and they could hardly propose to sacrifice for that, a connection with us, which may be perpetual.