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level would be established in that part of the peninsula where this commodity was scarce; whereas even by means of publick granaries, or by fixing, as England does, such a price as to prevent the exportation, all the calamities cannot be prevented. So long as the prejudice or panick terrour which exists upon this point, cannot be removed, agriculture will not be encouraged, nor manufactories promoted. But I am digressing from the principal object of this memoir, having been carried away by the excitement of my zeal for the good of my country, and must now return to the thread of my subject.
Although the present state of the commerce of the Anglo-Americans is not so flattering, as it is perhaps thought to be in Europe, and although it is either completely paralized, or in extreme decline, it will not be extraordinary if it should recover and soon reach a safe and brilliant course; which will depend upon circumstances, and upon the conduct of European nations.[1] It is well known that this Republick is advantageously situated by nature, for commerce with the rest of America, with India, China, and Europe: that the acquisition of the Floridas will make her mistress of the Bahama chan-
- ↑ Only a few pages back, the author positively asserted the impossibility of the United States ever recovering their commerce, alleging the obstacles inherent in the nature of their government. T.
