This looked dry, and indicated a degree of irritation, though it held up the idea of further means.
I replied to it on the 22d of June, as follows.
"Madrid, June 22d, 1780.
"Sir,
"I received the note your Excellency did me the honor to write on the 20th instant, and I take the earliest opportunity of expressing my thanks for your Excellency's permission to accept the bills mentioned in it, which I have accordingly done.
"Agreeably to your Excellency's recommendation in the first conference, I have turned my thoughts very seriously to the objects which were the subjects of it, relative to the bills drawn upon me; they were two.
"1st. The means of paying these bills.
"2dly. The proposed contract with America for light vessels, &c.
"With respect to the first, it appeared to me, that the principal difficulty was removed by your Excellency's informing me, 'that at the end of the present year, it would be in your power to advance twentyfive, thirty, or forty thousand pounds sterling.' Hence I inferred, that as much time would be taken up in the sale, negotiation, and transmission of those bills, and as so long a space as six months was assigned for their payment, after being presented, that the sums which it would be in your Excellency's power to advance at the end of the year, would probably be equal to the amount of the bills which would then become payable; and that in the mean time such further means might be provided, as would obviate difficulties with respect to those that might afterwards become due. When I reflected that I was a stranger to the resources of Spain, and that your Excellency's acknowledged abilities comprehended all the objects and combinations necessary in determining what supplies they were capable of affording, and the manner and means most proper for the purpose, it appeared to me in the light of presumption to hazard to your Excellency any propositions on the subject.
"2dly. On considering the proposed contract, it became important to distinguish between the building these vessels with the money of the United States, or with that of Spain. The latter was very practicable, and I gave your Excellency that opinion in my letter of the 9th instant. The former, on the contrary, appeared to me not to be within the power of the United States, and candor obliged me to make this known to your Excellency in the same letter.