ers on the subject of a commercial treaty were far
from being satisfactory. To the inquiries of Mr. Jefferson on this
point, he replied, that he was authorized to enter into a negotiation
respecting the commercial intercourse between the two countries, and
to discuss those principles which might serve as a basis for a treaty,
but not to _conclude_ any definitive arrangements. In fact, there was
much reason to believe that the obstacles to a commercial treaty
between the two countries would not be soon or easily surmounted. In
America, such an alteration in the law of nations as would permit the
goods of an enemy to pass freely in the bottom of a neutral, was a
favourite project; and a full participation of the colonial trade was
also most earnestly desired. That the latter of these objects would
not be readily conceded by Great Britain did not admit of a doubt; but
many intelligent men, possessing great political influence, had
embraced the opinion that she could be forced out of that colonial
system which every European power having settlements in America had
adopted, by regulations restricting her navigation and commerce with
the United States. To those who entertained this opinion, no
commercial treaty could be acceptable, which did not contain the
concessions they required.

In addition to a general knowledge of the sentiments of the British
cabinet on these points, particular evidence had lately been received
of its positive decision respecting them. A comprehensive report on
American affairs had been made to the privy council by a committee of
that body, which was laid before the king. A few copies of it had been
printed for the members of the cabinet, which were soon called in by a
sudden order of council; but one of these copies was obtained, and
transmitted to the secretary of state of the United States. This
report manifested a willingness to form a commercial treaty with the
American government on principles of perfect equality, both with
respect to navigation and commerce, so far as regarded the dominions
of his Britannic Majesty in Europe; but it also discovered a
determination, to adhere inflexibly to the existing regulations for
the colonies; and to reject the principle that free bottoms make free
goods.

In this state paper the opinion was advanced, that several important
articles of exportation from the United States, especially tobacco,
had been peculiarly favoured in Great Britain; but that these fr