JET. 29.] THE WAR. 383 



Ayres speculation, and talk of three millions and a 

 half worth of goods on hand in the Plate. 



" Considerable anxiety is entertained for the expe- 

 dition to the Baltic. People naturally enough dread 

 a change of weather in case the operations are pro- 

 tracted. This would be very unpleasant even if the 

 King of Sweden gives us shelter, in spite of Russia. 

 But at all events, though we completely succeed 

 (which is perhaps upon the whole most probable), we 

 are rather in a dilemma, for Eussia will be more hostile, 

 and will probably allow Bonaparte to do just as he 

 pleases. We shall risk much by remaining in Zea- 

 land. "We shall get very little trade by it, and he 

 will have not perhaps twelve or fourteen bad ships, 

 but a number of seamen, whom he wants a great deal 

 more, and whom, nothing but our own violence could 

 have made very hostile to us. If, on the other hand, 

 we give up the island, the Baltic is closed against us, 

 which indeed signifies little, as it would be effectually 

 closed at any rate. But we shall have done enough 

 to make the Danes and Russians ready for any efforts 

 against us. The love of this Baltic plan has sensibly 

 subsided, and people are more desponding than ever 

 upon the sum of affairs. The Yorkshire men are in 

 great anxiety about the American dispute, which they 

 say would ruin them. 



" Munroe and Pinckney, however, greatly commend 

 Canning and Perceval for their candid and temperate 

 behaviour towards them. I am afraid, however, that 

 the West Indian and shipping interests will have 



