University of Virginia Library

TO GEORGE W. CAMPBELL.[78]
(Private.)

I have just rec'd your favor of the 23d. inclosing
two letters from Mr. Astor. As the resource of loans
to a considerable amount in addition to taxes is necessary
to our Treasury, and as money is cheaper in
Europe than here, especially whilst disaffection withholds
the greater part of the capital from Market, it
is obviously desirable that we should avail ourselves
of the foreign market, now become the more practicable
in consequence of the repeal of the Non. Imp.
law and of the Independence of Holland. The
question is as to the mode, and the choice lies between
the appt. of an agency to bargain abroad for
the public, and a bargain here with individuals who
will act for themselves abroad. Each mode has its
pros. & its cons. which I need not suggest. I lean at
present to the latter mode as least difficult under all
circumstances, but I leave myself open to the lights
I may receive at Washington, where I expect to be
by the first of next month. I propose to set out
thither the day after tomorrow (friday). The
weather however which is unsettled may prevent it.
I shall then be able to speak with you also on the
subject of Gen. Jackson & the Treaty with the Creeks.
It will be matter of regret, if either the State of
Tennessee or that distinguished officer should be

finally dissatisfied. The enumerations to you on the
subject, have not taken into view the relation of
Georgia as well as Tennessee to the case, or the advantage
in a general view from the circumstances,
but of neither State having too much share in the
demarkation of the Territory to be ceded, a part of
the Union having a jealous eye on the particular
interest they, Western States, take in Indian Affairs.

It is difficult to say what may be the effect of this
feature of things in Europe, on our affairs, should it
be truly represented by the late arrivals, and undergo
no new changes. Much will ultimately depend on
the disposition of Russia & the other great powers
of the Continent towards us. Their interests evidently
coincide with ours, in bringing England to
peace with us, unless Eng. should let them carry on
her trade with us as well as their own which is too
contrary to her favorite maxims to be presumed.
The danger is that her temporary ascendancy and
her success in propagating false impressions of the
principles & views of the U. S. may induce them to
acquiesce in her measures agst. us.

Accept assurances of my esteem & regard.