rcity of capital in America, and its abundance in Great
Britain, relatively to the rest of Europe. The wealthiest nation could
hold the Americans by their need of accommodations which others could
not extend.

In so far there probably was a general substantial agreement in Great
Britain. The Americans had been consumers to over double the amount of
the West Indies before the war, and it was desirable to retain their
custom. Nor was the anticipation of success deceived. Nine years
later, despite the rejection of Pitt's measure, an experienced
American complained "that we draw so large a proportion of our
manufactures from one nation. The other European nations have had the
eight years of the war (of Independence) exclusively, and the nine
years of peace in fair competition, and do not yet supply us with
manufactures equivalent to half of the stated value of the shoes made
by ourselves."[67] In the first year of the government under the
Constitution, from August, 1789, to September 30, 1790, after seven
years of independence, out of a total of not quite $20,000,000 imports
to the United States, over $15,000,000 were from the dominions of
Great Britain;[68] and nearly half the exports went to the same
destination, either as raw material for manufactures, or as to the
distributing centre for Europe. The commercial dependence is evident;
it had rather increased than diminished since the Peace. As regards
American navigation, the showing was somewhat better; but even here
217,000 tons British had entered United States ports, against a total
of only 355,000 American. As of the latter only 50,000 had sailed from
Great Britain, it is clear that the empire had retained its hold upon
its carrying trade, throughout the years intervening between the Peace
and the adoption of the Constitution.

As regards the commercial relations between the two nations, these
results corresponded in the main with the expectations of those who
frustrated Pitt's measure. He had conceived, however, that it was wise
for Great Britain not only to preserve a connection so profitable, but
also to develop it; to multiply the advantage by steps which would
promote the prosperity and consequent purchasing power of the
communities involved. This was the object of his proposed concession.
During the then recent war, no part of the British dominions--save
besieged Gibraltar--had suffered so severely as the West Indies.
Though other causes concurred, this was d