HISTORY OF THE AMERICAN WHALE FISHERY. 83 



usual rate. Large sums of the circulating cash, and as much produce 

 as could be purchased at almost any rate, have been remitted to En- 

 gland ; but much of this produce lies in store here, because it will not 

 fetch, by reason of the duties and restrictions on it, the price given for 

 it in America. No political arrangements having been made, both the 

 British and American merchants expected that the trade would have 

 returned to its old channels, and nearly under the same regulations, found 

 by long experience to be beneficial; but they have been disappointed. The 

 former have made advances, and the latter contracted debts, both de- 

 pending upon remittances in the usual articles, and upon the ancient 

 terms, but both have found themselves mistaken, and it is much to be 

 feared that the consequences will be numerous failures. Cash and bills 

 have been chiefly remitted ; neither rice, tobacco, pitch, tar, turpentine, 

 ships, oil, nor many other articles, the great sources of remittances for- 

 merly, can now be sent as heretofore, because of restrictions and imports, 

 which are new in this commerce, and destructive of it; and the trade 

 with the British West India Islands, formerly a vast source of remit- 

 tance, is at present obstructed. ****** There is a literal 

 impossibility, my lord, that the commerce between the two countries 

 can continue long to the advantage of either upon the present foot- 

 ing." * He continues, that these evils will increase, and asserts that it is 

 the desire of the United States to be on good terms commercially with 

 England, and not be driven to other markets with their goods, and he 

 closes by proposing the arrangement of a treaty of commerce between 

 the two countries. 



It would be interesting, though not necessary in this connection, to 

 follow the negotiations through each step; to see how the English 

 administration felt compelled to cater to those who upheld the British 

 navigation laws; to see how jealousy of our incipient naval power pro- 

 crastinated the treaty which it was inevitable must come; to see how 

 self-confident and secure the English felt that our trade must unavoid- 

 ably come to them ; to see, how, an attempt was made to throw the influ- 

 ence of Ireland against America by ostentatious concessions, and how 

 the attempt failed ; to see how, finally, the fear of American reciprocity 

 in restrictions led to English reciprocity in concessions; but those things 

 can be more satisfactorily learned from the diplomatic correspondence 

 of the day.t 



On the 24th of August Mr. Adams had a conference with Mr. Pitt for 

 the first time in this connection. Passing by the matter of the interview, 

 so far as it relates to the other portions of the proposed treaty, we find 

 that when the treaty of commerce was proposed, Mr. Pitt inquired what 

 were the lowest terms that might be satisfactory to America. Mr. Ad- 

 ams replied that he might not think himself competent to decide that 

 question; that, because of the rapidly increasing feeling in America. 



* Works of Jolm Adams, viii, p. 288. 

 t Works of John Adams, viii, p. 307. 



