y to the political advantages gained by the Republic.

The annexation of this province, at one blow conferred on Chili
complete independence, averting the contemplated necessity for fitting
out a powerful military expedition for the attainment of that object,
vitally essential to her very existence as an independent state;
because, so long as Valdivia remained in the hands of the Spaniards,
Chili was, in her moments of unguardedness or disunion, in constant
danger of losing the liberties she had, as yet, but partially acquired.

The resources of the province of Valdivia, together with those of
Conception, had contributed the means whereby the Spaniards maintained
their hold upon the Chilian territory. Not only were they deprived of
these resources--now added to those of Chili--but a great saving was
effected by exonerating the Republic from the necessity of maintaining a
military force in the southern provinces, as a check upon both Spaniards
and Indians, who, at the moment of our conquest of Valdivia, were being
let loose in all directions against the Chilian patriots.

Setting aside, therefore, the removal of danger, and the complete
establishment of independence, the money value alone of the conquest
was, to a Government of very limited means, of the first importance, as
doing away with the necessity of military expenditure, estimated by
competent judges at a million of dollars, merely to attempt the
accomplishment of an object, which, without any additional cost, I had
effected with a single ship, so unseaworthy that she had to be left
behind.

But the advantage of the conquest did not end here. Had it not been for
this capture, the Spanish power in Chili, aided by the Indians, would
have found it easy to maintain itself in such a country for a protracted
period, despite any military force Chili was in a condition to bring
against it; so that no effective co-operation with the people of Peru
could have been undertaken--as common prudence would have deterred them
from entering into distant revolutionary projects, so long as the
Spaniards were in possession of any part of the Chilian territory;
whilst the necessity of defending herself through a protracted civil
war, would have prevented Chili from aiding in the liberation of Peru,
which would thus have remained a permanent base of operations for the
Spaniards to annoy, if not again to recover, the Chilian provinces.

A further advantage was the successful negocia