The Writings of Thomas Jefferson, Vol. 2 (of 9). Томас Джефферсон
to provide for the foreign creditors in order to enforce a just attention to the domestic ones. The question is whether it will be more easy to prevail on Pennsylvania to recede from this condition, or the other States to comply with it. The treaties with the Indians have experienced greater delay than was expected. They are, however, completed, and the surveyors are gone into that country to lay out the land in lots. As soon as some progress is made in this, the sale of lands will commence, and I have a firm faith that they will, in a short time absorb the whole of the certificates of the domestic debt.
The Philadelphia Bank was incorporated by Congress. This is, perhaps, the only instance of their having done that which they had no power to do. Necessity obliged them to give this institution the appearance of their countenance, because in that moment they were without any other resource for money. The Legislature of Pennsylvania, however, passed an act of incorporation for the bank, and declared that the holders of stock should be responsible only to the amount of their stock. Lately that Legislature has repealed their act. The consequence is, that the bank is now altogether a private institution, and every holder is liable for its engagements in his whole property. This has had a curious effect. It has given those who deposit money in the bank a greater faith in it, while it has rendered the holders very discontented, as being more exposed to risk, and has induced many to sell out, so that I have heard (I know not how truly) that bank stock sells somewhat below par; it has been said 7 1-2 per cent.; but as the publication was from the enemies of the bank, I do not give implicit faith to it. With respect to the article, "Etats Unis" of the Encyclopedie now enclosed, I am far from making myself responsible for the whole of the article. The two first sections are taken chiefly from the Abbé Raynal, and they are therefore wrong exactly in the same proportion the other sections are generally right. Even in them, however, there is here and there an error. But, on the whole, it is good, and the only thing as yet printed which gives a just idea of the American constitutions. There will be another good work, a very good one, published here soon, by a Mr. Mazzei, who has been many years a resident of Virginia, is well informed and possessed of a masculine understanding. I should rather have said it will be published in Holland, for I believe it cannot be printed here. I should be happy indeed in an opportunity of visiting Holland, but I know not when it will occur. In the meantime, it would give me great pleasure to see you here. I think you would find both pleasure and use in such a trip. I feel a sincere interest in the fall of your country, and am disposed to wish well to either party only as I can see in their measures a tendency to bring on an amelioration of the condition of the people; an increase in the mass of happiness. But this is a subject for conversation. My paper warns me that it is time to assure you of the esteem and respect with which I have the honor to be, dear Sir, your most obedient humble servant.
TO MR. BARCLAY
Sir,—I was honored a few days ago with the receipt of your letter of August 11th. In my last to you, I informed you that I had proposed to Mr. Adams to avail ourselves of your service at Algiers. I acknowledge that I had no expectation, with our small means, you could effect a treaty there; but I thought their ultimatum might be discovered, and other intelligence obtained which might repay us the trouble and expense of the journey. I wished, also, to know what might be the effect of the interposition of the court of Madrid, now that it is likely to interpose. A letter recently received from Mr. Carmichael informs me, that it is the opinion of the Counts de Florida Blanca and D'Expilly, that nothing can be effected at Algiers till there be a previous treaty with the Ottoman Porte. Independently of that information, Mr. Adams is of opinion, that no good can result at present from a further attempt at Algiers. The Porte, Algiers, Tunis and Tripoli must remain for the further deliberation of Congress. Of course, we have no occasion to trouble you with any further visits to those powers, and leave you at liberty to return here, to London, or to America, as you shall think proper. We are happy that your successful efforts with the Emperor of Morocco have left the Atlantic open to our commerce, and little dangerous.
I have the pleasure to inform you that Mrs. Barclay and family are well, and am, with sentiments of the most perfect esteem and respect, your very humble servant.
TO MR. ADAMS
Dear Sir,—My last letter to you was dated the 27th of August, since which I have received yours of September 11th. The letter to Mr. Lambe therein enclosed, I immediately signed and forwarded. In mine, wherein I had the honor of proposing to you the mission of Mr. Barclay to Algiers, I mentioned that my expectations from it were of a subordinate nature only. I very readily, therefore, recede from it in compliance with your judgment—that his mission might do more harm than good. I accordingly wrote to Mr. Barclay, that he was at liberty to return to this place, to London, or to America, as he should think best. I now enclose you copies of such letters from him, Mr. Lambe and Mr. Carmichael, as have come to hand since my last to you. I have had opportunities of making further inquiry as to the premium of insurance at L'Orient for vessels bound to or from America, and I find that no additional premium is there required on account of the risk of capture by the Barbary States. This fact may be worth mentioning to American merchants in London.
We have been continually endeavoring to obtain a deduction of the duties on American whale oil. The prospect was not flattering. I shall avail myself of the information contained in your letter to press this matter further. Mr. Barrett has arrived here, and the first object for his relief, is to obtain a dissolution of his former contract. I will thank you for some copies of the Prussian treaty by the first opportunity, and take the liberty of troubling you to forward the packet of letters which Mr. Smith, the bearer of this, will have the honor of delivering to you. I beg the favor of you to present my most respectful compliments to Mrs. Adams, and to be assured yourself of the sentiments of sincere esteem and respect with which I have the honor to be, dear Sir, your most obedient, and humble servant.
TO MR. JAY
Sir,—The last letters I had the honor of writing you were of the 11th and 13th of August. Since that, I have been favored with yours of July 14th and August the 13th. I now enclose you such letters on the Barclay negotiations as have come to hand since my last. With these, is the copy of a joint letter from Mr. Adams and myself to Mr. Lambe. In mine of August 13th, I mentioned that I had proposed it as a subject of consideration to Mr. Adams, whether the mission of Mr. Barclay to Algiers might answer any good purpose. He is of opinion that it could not. I have, therefore, informed Mr. Barclay, who by this time, is probably in Spain, that he is at liberty to return to this place, to London or America, as he shall think proper. You will perceive by the letter from Mr. Carmichael, that it is the opinion of the Counts de Florida Blanca and D'Expilly, that a treaty with the Ottoman Porte is necessary before one can be made with Algiers. Such a treaty will require presents, not indeed as the price of the peace, but such as are usually made in compliment to their ministers. But as it would be ineffectual towards opening to us the Mediterranean until a peace with Algiers can be obtained, there seems to be no reason for pressing it till there is a prospect of settlement with the Algerines.
Since the death of the King of Prussia, the symptoms of war between the Porte and the Russians and Venetians have become stronger. I think it is the opinion of this court, however, that there will be no war shortly on the Continent. I judge this as well from other information as from the circumstance of a late reduction of their land force. All their military preparations seems to be against a naval war. Nevertheless, their treaty with England has lately taken a sudden start. Declarations have been exchanged between the negotiators in the nature of preliminaries to a definitive treaty. The particulars of these declarations are not yet certainly known.
I was lately asked by the Imperial ambassador whether I had received an answer on the subject of the proposition to our powers to treat with his sovereign. A discrimination which they understand to have been made in America between the subjects of powers having treaties with us and those having none, seems to be the motive of their pressing this matter.
It being known that M. de Calonne, the Minister of Finance, is at his wits' end to raise supplies for the ensuing year, a proposition has been made him by a Dutch company to purchase the debt of the United States to this country for seventy millions of livres in hand. His necessities dispose him to accede