Having prepared the draft of a protest, I thought it would not be amiss to show it to the Ambassador. He returned it to me without making any other remark, than that it was rather pointed.
From the Ambassador's I went to M. Cabarrus'; he had not been at the Pardo, and was then at a meeting of merchants, to whose consideration his plan of a bank had been referred.
The Ambassador went to the Pardo and mentioned the matter to the Minister, who replied briefly, "that affair is already arranged with M. Cabarrus," but the Chevalier de Bourgoing, having been desired to bring back a decided answer, applied to M. Del Campo on the subject, who told him, "that they could not possibly comply with M. Cabarrus' terms; that he had written so that morning to M. Cabarrus by a private courier, and that in the evening the Minister would repeat it to him officially." On the Chevalier's mentioning this to the Ambassador, he was clearly of opinion that I had not any resource left, and, therefore, that the bills must be protested, and that the Chevalier should tell me so. I showed the protest, as translated into Spanish by M. Gardoqui, to the Chevalier. The original in English is as follows.
"Mr Jay says, that when he accepted the bills hereunto annexed, he had good reason to expect to be supplied with the funds necessary to pay them. That he has been disappointed in the expectations he was encouraged to entertain on this subject, and that his endeavors to obtain moneys for the purpose both here and elsewhere have been unsuccessful, although the bills which remain to be paid by him, together with all his other engagements, do not exceed twentyfive thousand pounds sterling. That these disappointments being unexpected, he cannot, for want of time, have recourse to Congress, and, therefore, finds himself reduced to the mortifying necessity of permitting them to be protested."
The Chevalier approved of the protest, but the notary on reading it observed, that the sum was really so trifling, that he thought it would do better to strike it out. The Chevalier was struck with this remark, and advised me with some earnestness to make no mention of the sum, for, said he, "it will appear very extraordinary, that you should be obliged to protest the bills of Congress for the want of such a sum, and people will naturally turn their eyes towards France, and ask how it happened that your good allies did not assist you; it will look as if we had deserted you."
I replied, that since the bills must be protested, I was content that my true situation should be known. I admitted his inferences to be just, and naturally flowing from the facts, adding, that as France knew my situation and had withheld relief, she had so far deserted us; but that I was, nevertheless, mindful of the many proofs we had received of her friendship, and should not cease to be grateful for the ninetynine acts of friendship she had done us, merely because she had refused to do the hundredth.
In short, I directed the notary to recite this protest verbatim.
This protest was drawn at my leisure, and with much consideration. It operated as I expected, and I am persuaded you will see the reason of each sentence in it without the aid of my comments. I will only remark, that I was at first induced to insert, and afterwards to refuse striking out the sum, lest from leaving it uncertain, the public might have had room to conjecture, or individuals to insinuate, that I had imprudently run into such rash and expensive engagements, as to render it improper for Spain or France to afford me the necessary supplies.
Nor did it appear to me that both of them should have reason to be ashamed of permitting our credit to be impeached and injured for such an unimportant sum. Both Courts were blamed, and we not only acquitted, but pitied by the public.
I ought to inform you, that the sum which I really wanted did not amount to twentyfive thousand pounds, but as some straggling bills frequently made their appearance, and it could not be foreseen how much those which might still be behind would amount to, I thought it advisable to make a considerable allowance on that score; for in case I should have asked for less than might afterwards have proved indispensable, I should, doubtless, have been put to great difficulties in obtaining a supply for the deficiency.