I was going to tell you last evening, if I had found you alone, that we were finally at the moment of concluding this great deal of supplying the farmers general with tobacco to my satisfaction. I had also planned to give you a detailed account of the situation, and invite you to join a company of few but honest and solid members, and in this case ask you at what time I could see you in order to sign the papers today.

1. We made an agreement with the farmers general that I would not ask any monetary advances from them, that I would have the tobacco brought from America at my own risks and costs, at first in small quantities, and that I would only increase the amount to the extent that I would be making an honest profit. We agreed that I would provide the tobacco to them at the rate of 8 sols per pound, that they would pay in cash at this price, and that they would agree to take up to 20 thousand hogsheads on these terms, from now up until April 1, 1778. If it ends by being more expensive for me, I am not under obligation to sell it to them, but I am free to ship it abroad.

2. We made an agreement with a banker from this city, and a merchant from Dunkerque, to form a company to undertake this business, and to invite you to join us.

This company will have an initial capital of several million, in order to equip the ships, and to send French merchandise to the North American continent, to bring back tobacco from the ports on this continent to France, for the provision of the farmers general, as well as for distribution in other European states; this would be independent of other commodities and products from the Colonies from which we could make a profit. You would contribute more or less to this outlay, without being required to contribute any more than is feasible for you in this regard. And what you provide will be used either to buy, and gather in United States ports, the commodities which will be loaded as quickly as possible onto vessels belonging to the Company; or it will be used to build a number of vessels in America, for the use of the Company.

Each associate will be responsible for the administration of the joint business of the company, as much as his position permits, and as befit his inclination and other affairs. And each will be granted the right to a given percent interest for his administration of the part that he has overseen; the fraction of this administrative right will be fixed today by joint agreement.

We will have a mutual faithful account of all business, and on the total profit made from this commerce, all fees, costs, and losses deducted, each associate shall be paid interest on the investments he made; this interest shall be fixed at five percent annually, and the remaining profit will be split into four equal portions, one for each of the associates. What do you think of this, Monsieur and my dear Master? Don't you hope, as I do, that a such a company would find a market expedient for the commodities and products of both two nations, which would be reciprocally advantageous? Don't you hope that each associate would find a substantial, and perhaps even quite considerable, profit in this? Will you do us the honor of joining in? Where do you suggest that we might meet for this purpose today, and at what time?