Sir,

I have received your letters N. 22 inclusive, and have laid them before the King.

In a matter of so much importance, as the establishment of a new and very extensive branch of trade, every individual will of course be cautious before he engages and will even by unwilling to give an opinion previous to his determination to take a part in that trade, as the success of it may, in some degree, affect that in which he may already be concerned. This combination of interests makes it very difficult for me to furnish such full and immediate assistance as I could wish to give, to the enquiry which you are pursuing with so much zeal and ability. At present I can only agree with you, that whatever may be the advantage of the commerce to the Black Sea, it is very desireable that His Majesty’s subjects may reap them in their fullest extent; and that the favourable disposition which the Empress of Russia and her ministers show towards His Majesty’s subjects, at this time, should be encouraged as far as we can. If the trade is worth pursuing , our merchants when they once know it to be so, will want no spur to their activity; in the meantime, whilst they continue in suspense about it, you will of course use every proper attention to keep Monsr. Panin in his present disposition with regard to the exclusion of France from the participation which she is so desirous to obtain. The gentlemen of the factory will no doubt have written to their friends here on this subject; and I shall take the earliest opportunity of learning the opinion of the principal persons in the Russia and Turkey Companies, and I will furnish you with every light in my power. At all events, as this new branch of trade is an object which the Empress appears to have much at heart, and in which our rivals will be very active, you will continue to impress the idea that we are by no means indifferent about it, and that we set a proper value on the facilities which are offered to us.

I am etc. Suffolk