American produce will be poured into
these markets, for which, in return, little else than specie will be
brought back to the ports of the Republic.

It may be said, that an equivalent has been obtained by the removal of
restrictions hitherto laid on British shipping. This I deny is any thing
like an equivalent, as the trade with America is carried on almost
exclusively in American bottoms. I particularly noted at New Orleans,
Baltimore, Philadelphia, and New York, the paucity of British vessels in
those ports; and ascertained that it was the practice among American
merchants, who it must be observed are nearly all extensive ship-owners,
to withhold cargos, even at some inconvenience, from foreign vessels, and
await the arrival of those of their own country. I do not positively
assert that the ships of _any other_ nation are preferred to those of
England; but, as far as my personal observations on that point have gone,
I am strongly inclined to think that such is the fact.

The mercantile and shipping interests of Great Britain must continue to
decline, if the government suffers itself continually to be cajoled into
measures of this nature, and effects treaties the advantages of which
appear to be all on one side, and in lieu of its concessions receives no
just equivalent; unless a little empty praise for "liberal policy" and
"generosity," can be so termed. I am well aware that it may have been of
some small advantage to the West Indies to be enabled to obtain their
supplies from the United States; but with reference to the policy of the
measure, I speak only of the empire at large. Nearly all the Canadians
with whom I conversed, freely acknowledged that they have not shaken off
the yoke of England, only because they enjoyed some advantages by their
connexion with her: but as these are diminished, the ties become loosened,
and at length will be found too weak to hold them any longer. Disputes
have already arisen between the people and the government relative to
church lands, which appropriations they contend are unjust and dishonest.

No doubt the question of tariff duties on the raw material imported into
England, is one of great delicacy as connected with the manufacturing
interests of the country; yet it does appear to me, that a small duty
might without injury be imposed on American cottons _imported in American
bottoms_. This would afford considerable encouragement to the shipping of
Great Britain and her colonie