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200 paid off with the results of successful stock-jobbing. On the wall behind the Minister are hung the portraits or Ignatius Loyola, Malagrida, and Calvin. The same charge had curiously enough been brought against the former owner of Shelburne House, Lord Bute, at the time of the peace of 1763.

The negotiations with America had meanwhile been prospering. Caleb Whitefoord now describes Oswald as busily "employed in drawing up schemes and plans in behalf of the Loyalists and for annoying our enemies." Strachey had arrived in Paris before the end of October, and almost simultaneously John Adams joined his colleagues. The latter shared the dislike for the French entertained by Jay, considering them essentially false and untrustworthy in character. He told Franklin his opinion, and carried the day in favour of negotiating separately, and communicating as little as possible with Vergennes; but it was only with great reluctance that Franklin yielded. John Adams also conceded without hesitation the justice of the English demand, that the treaty should give to English merchants the right of collecting all debts due to them in the United States previous to the commencement of hostilities. He said "he had no notion of cheating anybody. The question of paying debts and compensating Tories were two." Franklin was not present at the interview when this point was settled, but felt the uselessness of protesting. Strachey and Oswald, the latter of whom acknowledged that he ought to have been firmer, now wrote in hopeful terms to the Ministers in England. On the 30th of October, and the three following days, formal interviews took place between the negotiators of the two countries. The American Commissioners having practically thrown over the French alliance, had to recede from the extreme demands originally formulated by Franklin. They agreed to accept the St. Croix instead