DOCUMENTS BEAEING ON TKEATY OP 1783. 63 



No. 30. 1782, June 3: Extract from Dr. Franklin's Journal. 



On Monday, the 3d, Mr. Oswald came according to appointment. 

 He told me he had seen and had conversations with Lord Shelburne, 

 Lord Rockingham, and Mr. Fox ; that their desire of peace continued 

 uniformly the same, though he thought some of them were a little too 

 much elated with the late victory in the West Indies, and when 

 observing his coolness, they asked him if he did not think it a very 

 good thing ; yes, said he, if you do not rate it too high. He went on 

 with the utmost frankness to tell me that the peace was absolutely 

 necessary for them; that the nation had been foolishly involved in 

 four wars, and could no longer raise money to carry them on, so that 

 if they continued it would be absolutely necessary for them to stop 

 payment of the interest money on the funds, which would ruin their 

 future credit. He spoke of stopping on all sums above 1,000 and 

 continuing to pay on those below, because the great sums belonged to 

 the rich, who could better bear the delay of their interest, and the 

 smaller sums to the poprer persons, who would be more hurt and 

 make more clamor, and that the rich might be quieted by promising 

 them interest upon their interest. All this looked as if the matter 

 had been seriously thought on. 



Mr. Oswald has an air of great simplicity and honesty, yet I could 

 hardly take this to be merely a weak confession of their deplorable 

 state, and thought it might be rather intended as a kind of intimida- 

 tion, by showing us that they had still that resource in their power, 

 which he said would furnish five millions a year. But, he added, 

 our enemies may do what they please with us; they have the ball at 

 their foot, was his expression, and we hope they will show their 

 moderation and magnanimity 



Mr. Oswald also gave me a copy of a paper of memorandums, 

 written by Lord Shelburne, viz. : 



1. That I am ready to correspond more particularly with Dr. 



Franklin, if wished. 



2. That the Enabling Act is passing with the insertion of commis- 



sioners recommended by Mr. Oswald; and, on our part com- 

 missioners will be named, or any character given to Mr. Os- 

 wald, which Dr. Franklin and he may judge conducive to a 

 final settlement of things between Great Britain and America, 

 which Dr. Franklin very properly says requires to be treated 

 in a very different manner from the peace between Great 

 Britain and France, who have always been at enmity with 

 each other. 



3. That an establishment for the loyalists must always be on Mr. 



Oswald's mind, as it is uppermost in Lord Shelburne's, besides 

 other steps in their favor to influence the several States to 

 agree to a fair restoration or compensation for whatever 

 confiscations have taken place. 



4. To give Lord Shelburne's letter about Mr. Walpole to Dr. 



Franklin. 



On perusing this paper I recollected that a Bill had been some 

 time since proposed in Parliament, to enable his majesty to conclude 

 a peace or truce with the revolted provinces in America, which I 

 supposed to be the enabling bill mentioned that had hitherto slept 

 and, not having been passed, was perhaps the true reason why the 



