e
same amount, involving a total diminution in trade of L14,000,000. An
increase of distress was manifested in the poor rates. In Manchester
they had risen from L24,000 to L49,000. On the other hand, the harvest
for the year, contrary to first anticipation, had been very good; and,
in part compensation for intercourse with the United States, there was
the opening of Spain, Portugal, and their extensive colonies, the
effect of which was scarcely yet fully felt.

There was, besides, the relief of American competition in the carrying
trade. This was a singularly noteworthy effect of the embargo; for
this industry was particularly adverse to United States navigation,
and particularly benefited by the locking up of American shipping. On
April 28, 1808, there was not in Liverpool a vessel from Boston or New
York.[260] The year before, four hundred and eighty-nine had entered,
paying a tonnage duty of L36,960.[261] In Bristol at the same time
there were only ten Americans. In consequence of the loss of so much
tonnage, "those who have anything to do with vessels for freight or
charter are absolutely insolent in their demands. For a ship of 330
tons from this to St. Petersburg and back L3,300 have been paid;
L2,000 for a ship of 199 tons to Lisbon and back."[262] At the end of
August, in Liverpool, the value of British shipping had increased
rapidly, and vessels which had long been laid up found profitable
employment at enormous freights.[263]

Thus, while the effect of the embargo doubtless was to raise prices of
American goods in England, it stopped American competition with the
British carrying trade, especially in West India produce. This
occurred also at the time when the revolt of Spain opened to British
navigation the colonies from which Americans hitherto had been the
chief carriers. The same event had further relieved British shipping
by the almost total destruction of French privateering, thenceforth
banished from its former ports of support in the Caribbean. From all
these causes, the appreciation quoted from a London letter of
September 5 seems probably accurate. "The continuance of the embargo
is not as yet felt in any degree adequate to make a deep impression on
the public mind.... Except with those directly interested [merchants
in the American trade], the dispute with the United States seems
almost forgotten, or remembered only to draw forth ironical gratitude,
that the kind embargo leaves the golden harvest t