ent of Brazilian troops, and its probable final result, after the
whole of the countries engaged in it had been thoroughly ruined, the
establishment of the ascendancy either of the government of Buenos
Ayres, or of that of Brazil at Monte Video. This would be alike opposed
to the wishes and the interests of the Monte Videans themselves, to the
interests of a large portion of South America, and to those of the
nations trading with it. A small Independent State, like the Republic of
Uruguay, governed as it has ever been since the date of its independence
on the most liberal commercial principles, is the best of all checks on
the commercial illiberality of the neighbouring countries, and is much
too valuable to be sacrificed by the Government of any commercial nation
which has at heart the prosperity of its subjects.

If it should be said that neutral nations have no right to interpose
between belligerents, even for the purpose of preserving the national
independence of the weaker, I answer, that no longer since than last
year, the Government of this country was prepared to have interposed, if
it had been necessary, in order to preserve the independence of the
Empire of Morocco; and that the Government of France fully admitted the
right of England to do so in such a case, by giving a promise beforehand
that it would not use its victory either to conquer the territory or to
destroy the independence of the offending state. The reason why England
was prepared to resist the conquest of Morocco was, that such a conquest
would have seriously endangered her interests and influence in the
Mediterranean; and one principal reason why she should interfere to
prevent the conquest of Monte Video by the army and squadron of Buenos
Ayres is, that such a conquest would jeopardise her valuable commerce
and her influence in the River Plate, the only outlet of regions larger
than all the great Kingdoms of Western Europe united. Brazil has the
same right to interpose that Austria would have to resist the conquest
of Sardinia, or Prussia the conquest of Belgium, by France.

Many advantages have resulted both to the commerce of foreign nations,
and to the prosperity of the people of Uruguay, from the recognition of
its independence both of Buenos Ayres and Brazil, which were not
anticipated at the time when it was established, the whole of which, as
we shall show, will be lost if it is allowed to be absorbed by or placed
in dependence on Buenos