"Universal reciprocity, in the widest sense, is held by the American
Government as the only thoroughly appropriate basis for
intercourse between two great nations. The prohibition of the
indirect trade has but restrained enterprise: it has done good to
neither country. To abrogate it would at once set free dormant
commercial wealth without injuring any one.
"Should her Majesty's Government entertain similar views, the undersigned is prepared on the part of the American Government to propose that British ships may trade from any port of the world to any port in the United States, and be received, protected, and, in respect to charges and duties, be treated like American ships, if, reciprocally, American ships may in like manner trade from any port in the world to any port under the dominion of her British Majesty.
"The removal of commercial restrictions, while it would be of mutual advantage to the material interests of both countries, could not but give openings to still further relations of amity between them, and, by its influence on the intercourse of nations, create new guarantees for the peace of the world.
"The undersigned, &c. (Signed) "George Bancroft."
The following reply was given by Lord Palmerston:—
Lord Palmerston's reply, November 17,
"Sir, "Foreign Office, 17th November, 1847.
"I have lost no time in communicating to my colleagues your note of the 3rd inst. on the subject of the Navigation Laws which regulate the commerce of the British Empire and that of the United States with each other.
"This question has already engaged the serious attention of her Majesty's Ministers, and we observe with pleasure that the sentiments we entertain with regard to it are shared by the Government of a country, with which we are so closely united by the ties of an extensive commerce and of a common origin.
"We do not, however, think that we should be justified in advising the Crown to enter into an engagement which would be at variance with some of the most important principles of the existing Navigation Law without the previous sanction of Parliament; but it is our intention to propose to Parliament, without unnecessary delay, measures which would enable us to
