While the United States are grateful for Spain's offer to pay off the outstanding bills of exchange at the end of a two year period, it is likely that there will be many holders who will bring suit rather than wait for the two year period to end. Giving the United States frigates will be of little assistance in sustaining her public credit; also frigates can be built more cheaply in America. The pr oposal that United States ships aid in preying on British trade to the East Indies is flattering, but the uncertain state of the war in America precludes any permanent support in this regard.
Subjects
United States--History--Revolution, 1775-1783; Jay, John, 1745-1829