ment to contract any loan at all. As I have just observed, they have, from untoward and unprecedented circumstances which affected the monied interests of Great Britain at the time the loan which they anticipated was about to be realized, learnt to do without one. I am, however, strongly of opinion that they ought to raise a small sum, say about two millions sterling, as soon as circumstances will permit, to retain the consequence and solidity which they have already acquired against the innovations of domestic enemies, who would not probably have ventured to molest them, had they been fortified with the means which they had expected. The small amount which has been already advanced on Barclay's loan has been usefully applied in payment of the army, defence of the ports, and other objects of pressing, national importance. Looking at the financial affairs of the republic in this flattering point of view, we can hardly forbear from drawing a comparison between it and some of
