PROPOSALS TO GREAT BllITAIN. 281 



should be paid by Spanish America to Great 

 Britain for the assistance required. The 

 third stated the amount of British force 

 which was considered requisite. The fourth 

 recommended a defensive alliance between 

 England, the United States of America, and 

 South America. The fifth related to a treaty 

 of commerce between Great Britain and 

 South America. The sixth stipulated the 

 opening of the navigation between the At- 

 lantic and the Pacific Oceans, by cutting 

 across the Isthmus of Panama ; and the 

 guarantee of its freedom to the British na- 

 tion. The seventh referred to the commer- 

 ■ cial arrangements between the different 

 parts of South America. The eighth re- 

 lated to a project in contemplation for 

 forming a connexion between the Bank of 

 England and those of Lima and Mexico, 

 for the purpose of mutual support, and for 

 giving to England a certain degree of power 

 over the precious metals yielded by Spanish 



