he merchant and the mariner, should our property perish and
our children go supperless to bed, when we can insure our ships and
still make large profits? Would the planter reconcile himself to a law
which forbade him to harness his teams or use the hoe or the plough, and
bade him lie down and die of hunger beside fruitful fields? Does the
Constitution of the Union, which empowers Congress to regulate commerce,
authorize its destruction? And if it is the intent of Government merely
to protect our ships abroad, why are foreign vessels forbidden to
purchase or export our perishing fish and provisions? and why is our
property to be confiscated and heavy fines to be imposed, if we send it
across the Canada line, where there is no risk of seizure?--And when, in
the progress of events, it became apparent that France approved of our
Embargo, and that England, opening new marts for her trade and new
sources of supplies in Russia, Spain, India, and Spanish America, was
without a rival on the ocean, monopolizing the trade and becoming the
carrier of the world, it was impossible to reconcile the Eastern States
to this general interdict.

Many a rich man was ruined, many a prosperous town was utterly
prostrated by the shock. Property, real and personal, fell from thirty
to sixty per cent., affecting by its fall all classes of society.
A spirit of hostility to the party in power was engendered, which
outlasted the war with England, and continued to glow until Monroe had
adopted the great Federal measures of a navy, a military academy, and an
enlarged system of coast-defence.

Half a century has now elapsed since the signal failure of the Embargo.
The theorists who planned it, the cabinet that adopted it, the
politicians who blindly sustained it have passed from the stage. Angry
feelings have subsided. The measure itself has become a part of the
history of the country; but now that our commerce has again expanded,
now that our navigation, for at least a quarter of a century, has
continued to progress until it has outstripped that of Great Britain in
speed, despatch, and capacity to carry, now that it knows no superior
either in ancient or modern times, it is a fitting moment to investigate
the causes and effects of the measure which once arrested its progress.
Its history is replete with lessons; and if our late President has
failed in other particulars, he at least cautioned us, in his inaugural
address, "that our commerce and navig