the continental states, to whom this power was effectually denied. Interior districts may raise, and may deliver their productions to their immediate neighbors; but they cannot ensure the reception of their commodities by a third party.

Commerce then is the foundation of power on the coast; raising rude produce, or agriculture, is the foundation of power on the continent; whence immense armies are supported, and a military spirit diffused. But the extent of continental ambition is after every effort bounded by the sea, where maritime power commences, and is in itself much more extensive than continental power; inasmuch as the sea is a more ready communication than the land between all the different districts of the earth. Holland and Britain, professing the same religion, were by many reasons induced to make common cause with each other; they had the same enemies, the same caution and vigilance were necessary for both, neither could suffer singly, both when united were reciprocally strengthened, when separated each was enfeebled. The maintenance of that power which she had materially contributed to raise, was a leading object in the policy of Britain; and her most enlightened statesmen protected with every effort the barrier-towns which defended the United Provinces; nor, until Joseph the Second of Germany, destroyed that barrier, by dismantling the fortifications, was there a possibility of overwhelming Holland with the destruction which has now swallowed her up. France has been for ages intent on extending her empire northward; the Netherlands were her object, not merely for their own intrinsic value, but because they were the seat of the English trade, and the channel by which English commodities were spread over continental Europe. Britain therefore, in endeavoring to maintain the balance of power in Europe, kept up a perpetual watch and conflict against

the encroachments of France; and France endeavored to obtain by fraud or force a control over the mer cantile speculations of England. Hence the number of Treaties, from the reign of Edward 1st, in 1274, to the reign of George 2d; by which the trade of England was fixed to the Low Countries. And even so late as 1752, commissioners were appointed to open a conference at Brussels, in order to place the British trade in or through the Netherlands, on the footing of ancient treaties, and to establish definitive regulations. But the attempt failed.

The importance of the Netherlands did not cease when England had the choice of transmitting her commodities to Continental Europe through Flanders or Holland. Hence France endeavored to obtain first influence, direct or indirect, and then sovereignty over these Low countries, and the rivers which are the channels of their commerce. And as their coasts are opposite to those of England, and every way adapted to the creation and support of a maritime force, they may be rendered effective in disturbing the repose of Britain. The ablest British statesmen therefore deemed it as necessary for England as for Holland that the French power should be confined within due bounds. Hence the barriertreaty; by which certan fortified towns forming an outline to the dominions of France were garrisoned by Dutch troops, and specially protected by stipulations. Lord Townsend and Mr. Poyntz, in the "Barrier Treaty Vindicated,” p. 23, say “If France be once suffered to get possession of the Netherlands, their situation is such that it will not be in the power of all Europe to set any bounds to the progress of her arms." But when France was allied to Austria by the marriage of Louis XVI. with Marie Antoinette, the emperor Joseph II. thought fit to place such implicit confidence in his brother-in-law as to abandon the barrier; he not being pleased to have his

towns garrisoned by the troops of another power. He accordingly dismantled the fortified towns, and the Dutch troops departed. Immediately after this removal of the barrier against France in the Austrian Netherlands, she attempted to change the Dutch constitution, but her own incipient revolution suspended for a time the accomplishment of that object. Since that time she has incorporated not only the Netherlands, but Holland also, into her territorial dominion, and has extended her power and influence over all the Northern States of Continental Europe.

At present therefore the Balance of Power is apparently destroyed; for the Continental and popish power, France, has annihilated the maritime and protestant power, Holland. The trade also of Britain has lost its former channels, her politics their former ally, her religion one of its former supports, and her communication with the rest of Europe has lost its most direct, its shortest medium of intercourse, which it had maintained through a long series of ages. But perhaps it will be found on more mature reflection that the Balance of Power in Europe is not lost, forasmuch as commerce is the foundation of power among maritime states, and its prosperity increases not merely their wealth, but their actual and effective resources and influence, both political and military. As commerce declines the whole country is enfeebled, as it fails the people sink, and the government is transferred to a foreign hand.

To monopolize commerce is not within the power of any one nation, for no country can supply all that the whole world wants, and take in return all that the whole world has to exchange. There must therefore always be several centers or marts where commerce has established its seat; and if they possess a trade whose products are necessary to the other establishments of commerce, they will be permanent. From the general agreement to consider

the precious metals as wealth, no less than as the medium of exchange and payment; Spain, while she retains her gold and silver mines, must retain her commercial importance. Hence Cadiz has long been a centre of exchange; and the place whence the precious metals are distributed over Europe. Other causes also may render a country the seat of commerce; as situation, convenience, enterprise, mercantile manners, &c. witness Holland, whose great dependance was the carrying trade. About the year 1740 this trade began to decline; the other maritime nations of Europe undertaking to be the carriers of their own produce, and transporting it in their own bottoms to Holland, left it there to be sold on commission. The Dutch merchants gave two-thirds of the value in advance; with which the ship-master either purchased other goods for the home-market, or returned with the profits of his freight; or resorted to some other centre of exchange as Hamburg, Cadiz, Leghorn, &c. where the Dutch bills were equal to money, and there purchased the commodities they wanted, or proceeded to the countries which produced those commodities. Hence the rapid decay of the Dutch navy, the public nursery for seamen was diminished with the diminution of their employment; the arsenals and magazines of stores were gradually impoverished; partly because fewer vessels were sent out by which to receive them; and partly because the funds necessary for the purchase of the stores were deficient. Since the commencement of the war of 1793, the Americans have acquired part of the carrying trade. Yet the distance of the United States from Europe probably will prevent them from retaining this trade in time of peace; although commerce when once diverted from its old channels seldom reverts thither again. Holland however, having money in most of the European states, for which it draws interest, is

induced to maintain an intercourse with them. And finding a profit from receiving her remittances in goods, she continues a commerce to a certain extent. This, and the remittances being drawn for in bills of exchange, will continue a centre of exchanges in Hol- . land in a mercantile point of view; but of no importance politically, as enabling her by an extensive exertion of credit to endeavor to recover her ancient wealth and power.

France, though by her Southern provinces approaching to Venice, and almost touching Genoa, and by her northern provinces approximating to Bruges and Antwerp, yet could never induce commerce to take its course straight through her dominions; it circumnavigated her shores, and united the principal marts of Europe by a circumflex, not a direct line. The centres of commercial exchange never settled in her cities. Venice was a centre of exchange in the South; Bruges and Antwerp in the North; and when driven from Antwerp and Bruges it did not settle in France, but went further North to Amsterdam, and when removed from Amsterdam it went still farther off from France to Hamburgh. The centre of commercial dealings, indicated by the settlement of exchange, receded as France advanced, and always eluded her grasp in proportion as she endeavored to seize it. Nor since the period of American independence has she ever been the depot of American productions. Nor was she ever a European Emporium for Indian commodities; nor a centre of exchange, as purchased by goods, of the precious metals transmitted through Spain to France. Hence Hamburgh, now that she is become part of France, will no longer retain her importance among the commercial marts of Europe. Commerce seldom settles a second time in places where it has been ejected. The dominion of France is the deathwarrant of commerce; for force, military force and