The Marquis of Lansdowne spoke of you in very friendly terms, and desired me to present his respects to you, in the first letter I should write.  He is thoroughly sensible of the folly of the present measures of this country, as are a few other characters about him.  Dr. Price is among these, and is particularly disturbed at the present prospect.  He acknowledges, however, that all change is desperate:  which weighs the more, as he is intimate with Mr. Pitt.  This small band of friends, favorable as it is, does not pretend to say one word in public on our subject.

I have the honor to be, with sentiments of the highest esteem and respect,

Sir, your most obedient

and most humble servant,

Th:  Jefferson.

LETTER IV.—­TO JOHN JAY, April 23, 1786

TO JOHN JAY.

London, April 23, 1786.

Sir,

In another letter of this day, I stated to you what had passed with public characters since my arrival here.  Conversations with private individuals, I thought it best not to mingle with the contents of that letter.  Yet, as some have taken place, which relate to matters within our instructions, and with persons whose opinions deserve to have some weight, I will take the liberty of stating them.  In a conversation with an ancient and respectable merchant of this place, such a view of the true state of the commercial connections of America and Great Britain was presented to him, as induced him to acknowledge they had been mistaken in their opinions, and to ask, that Mr. Adams and myself would permit the chairman of the committee of American merchants to call on us.  He observed, that the same person happened to be also chairman of the committee of the whole body of British merchants; and that such was the respect paid to his person and office, that we might consider what came from him, as coming from the committees themselves.  He called on us at an appointed hour.  He was a Mr. Duncan Campbell, formerly much concerned in the American trade.  We entered on the subject of the non-execution of the late treaty of peace, alleged on both sides.  We observed, that the refusal to deliver the western posts, and the withdrawing American property, contrary to express stipulation, having preceded what they considered as breaches on our part, were to be considered as the causes of our proceedings.  The obstructions thrown by our legislatures in the way of the recovery of their debts, were insisted on by him.  We observed to him, that the great amount of the debt from America to Great Britain, and the little circulating coin in the formeer country, rendered an immediate payment impossible; that time was necessary; that we had been authorized to enter into explanatory arrangements on this subject; that we had made overtures for the purpose, which had not been attended to, and that the States had, therefore, been obliged to modify the article for themselves.