, and such a dangerous
acquisition; till we do so, it is to be feared that we shall never have a
true friend, nor be without a bitter enemy.

We have had experience from America, which is become precious to
us now, that we have lost it, and which was a mill-stone about our
neck, while we were in possession of it. Let us take a lesson from
experience, and apply its result to what is at this moment going on,
and we cannot mistake the conclusion to be formed. Let the nation be
above the little vanity of retaining a thing, merely because it has
possessed it. {218} Let the great general outline of happiness, and of
permanent happiness, be considered, and not that ephemerical
splendour and opulence, that gilded pomp that remains but for a day,
and leaves a nation in eternal poverty and want. Britain can only be
firm and just in its conduct towards other nations, give up useless
possessions, defend its true rights to the last point, encourage industry
at home, and take every step to prevent the operation of those causes
of decline that we have been examining; let merit be encouraged, and

---
{218} In this country, public opinion would be against a minister, who
proposed to give up any possession abroad, however useless. This is
owing to the pride occasioned by wealth. The people are not rapacious
for conquests, but once in possession they are very unwilling to let
them go.

It is not necessary to quit the trade to India, or abandon all our
possessions, but to diminish our establishments, circumscribe our
conquests, and not aim at possessing more than we had thirty years
ago. That moderation would conciliate all nations, and envy would
find its occupation gone.
-=-

[end of page #284]

let it never be forgotten or lost sight of, that wealth and greatness can
only be supported, for a length of time, by industry and abilities well
directed, guided by justice and fair intention. This is the truth of which
we are never to lose sight. We may keep sounding for the bottom, and
reconnoitring the shore, the better to direct our steps, but we must
never lose sight of the beacon, with the help of which alone we can
safely enter the wished-for harbour.

There is a great disposition in the human mind to give the law, when
there is the power of doing it. The abuse of power appears to be
natural and dangerous; yet, we have seen, that most nations, both
ancient and modern, have fallen into that error. The hour of British
insolence h