Monthly Chronicle.

I need not observe , that all the equivalents proposed , however inadequate to the exchange , were offered as a return for our consent that the Netherlands should remain part of France ; of course , the admitting them in any shape would have been in direct contradiction to my instructions . M . Delacroix touched very slightly on Italy , and the course of our conversation did not bring this part of the subject more into discussion . I must add , that whenever I mentioned the restoration of the Netherlands to the Emperor , 1 always took care it should be understood that these were to be

accompanied by such further cessions as should form a competent line of defence , and that France could not be permitted to keep possession of all the intermediate country to the Rhine ; and I particularly dwelt on this point , -when I held out the possibility of admitting an extension of the limits of France on the side of Germany . But as the French Minister no less strenuously opposed the restitution of the Netherlands to the Emperor , than I tenaciously insisted upon it , the further extension of my claim could not of course become a subject of argument . I believe I have nowwith a tolerable degree of accuracyinformed your

Lord-, , ship of all that the French Ministersaid on my opening myself to him on that part of my instructions which more immediately relates to Peace between Great Britain , his Imperial Majesty , and France . It remains with me to inform your Lordship what passed between us on the subject of our respective allies . On the article reserving a right to the Court of St . Petersburgh , and to that of Lisbon , to accede to the Treaty of Peace on the strict status ante helium , the French Minister made no otherremark , than by mentioning the Allies , of the Republic , and by enquiring whether I was prepared to say any thing relative to their interests ,

which certainly the Republic could never abandon . This afforded me the opportunity of giving in the confidential Memorial B . relative to Spain and . Holland , and I prefaced it by repeating to him the substance of the first part of your Lordship's No . 12 . Although I had touched upon the subject of the Spanish part of St . Domingo , when I had been speaking to M . Delacroix on the peace with France , yet , as it did not become a matter of discussion between us till I came to mention the Peace

with Spain , I thought it better to place all that passed on that subject in this part of my dispatch ; it was the only point on which be entered ; 'but I by no means infer from his not bringing forward some claims for Spain , that we are not to hear ofany in the ' course of the Negotiation ; on the contrary , I have little doubt that many , and most of them inadmissible , will be made before it can end . He , however , was silent on them , at this moment ; and confined all he had to say to combating the idea that Spain was bound by the Treaty of Utrecht not to alienate her possessions in America . I had the Article copied in my pocket , and I read it

tohim . He confessed it was clear and explicit , but that circumstances had so materially altered since the year 1713 , that engagements made then ought not to be considered ns in force now . I said that the spirit of the Article itself went to provide for distant contingencies , not for what was expected to happen at or near the time when the Treaty was made ; and that it was because the alteration of circcmstarrces he alluded to , was foreseen as possible , that the clause was inserted ; ami if Spain paid any regard to the faith of Treaties , she must consider herself as no less strictly bound by this clause nowthan at the moment when it was drawn up .

, I went on by saying , that it did not , however , appear quite impossible that this point might be settled without , much difficulty ; and that means might be devised that his Catholic Majesty should not break his faith , and both England and France be equally satisfied . I then held out to him , but in general terms , that either Spain might regain her part of St . Domingo , by making some considerable cession to Great Britain and France , as the price of Peace , or that , in return for leaving the whole of St . Domingo to France , we should retain either Marrinico or St . Lucia and Tobago . M . Delacroix listened with a degree of attention to these proposals ,

¦ but he was fearful of committing himself by any expression of approbation , and he dismissed the subject of the Court of Madrid , by observing , that France never would forsake the interests of its allies . Our conversation on these of its other ally , Holland , was much longer , as the Memorial inevitably led at once deep into Ihe subject . M . Delacroix affected to II eat anv deviation from the Treaty of Pence between France and that country , or my restoration of terrhoriss acquired under that Treaty to France , as quite im-