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ONE:The news had the most instant effect across the Channel. All hesitation on the part of the French Court to enter into the treaty with the United States disappeared. The American Commissioners, Franklin, Deane, and Lee, were informed that the King of France was ready to make a treaty, claiming no advantage whatever, except that of trade with the States. It was intimated that this proceeding would, in all probability, involve France in a war with Great Britain, but that she would claim no indemnity on that score. The only condition for which she positively stipulated was, that America should, under no temptations, give up its independence, or return under the dominion of England. The two kingdoms were to make common cause, and assist each other against the common enemy. The Americans were to endeavour to make themselves masters of all the British territories that they could, and retain them as their rightful acquisition; the French to obtain whatever islands they could in the West Indies, and retain them. France did not venture to seek back the Canadas or Nova Scotia, well knowing that the Americans would not consent to have them there as neighbours. Neither country was to make peace with England without the other. Lee was to continue at Paris as the first American Ambassador there, and the treaty was to continue some weeks a secret, in order to obtain, if possible, the accession of Spain to it, which, however, they could not do then.If the French had been by no means successful in Germany, they had been much less so in other quarters of the globe. In the East Indies we had taken Pondicherry, their chief settlement, from them, and thus remained masters of the whole coast of Coromandel, and of the entire trade with India. In the West Indies, the French had been fortifying Dominica, contrary to treaty, and Lord Rollo and Sir James Douglas were sent thither, and speedily reduced it. France, indeed, was now fast sinking in exhaustion. Louis XV. was a man of no mark or ability, inclined to peace, and leaving all affairs to his Ministers, and still more to his mistress, Madame de Pompadour. Choiseul was a man of talent, but of immense vanity, and little persistent firmness. He was now anxious for peace, but, too proud to make the proposal directly, he induced the Courts of Russia and Austria to do it. It was suggested that a congress should be held at Augsburg for settling the peace of Europe. England and Prussia readily consented. But the Duke of Choiseul, anxious to have a clear understanding of the terms on which England and France were likely to treat, proposed a previous exchange of views, and dispatched M. Bussy to London, whilst Mr. Pitt sent to Paris Mr. Hans Stanley.

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