This is a letter from Ferguson to Home discussing the attempt by their mutual friend George Johnstone to find a seat in the general election of September 1780. Ferguson mentions a letter addressed to Home that had arrived at Edinburgh in Home's absence, and writes of a meeting on Saturday, 'most of the Day', with the letter's author, 'Our Friend', a political figure aspiring to office who had been overlooked. 'Our Friend' may be George Johnstone, who is mentioned by name later. Ferguson hopes for success from 'the Endeavours which I trust are still making in his Favour.
Ferguson is glad to see J:M: does not drop the Oar'... J:M: probably being James Macpherson, author of the Ossian, and friend of both Ferguson and Home. Macpherson also knew Johnstone, having been secretary to Johnstone when he was governor of West Florida.
There is the possibility too that J:M: could be John Macpherson MP for Cricklade, though he had no obvious connection with Johnstone.