An Inquiry Into the State of the Nation At the Commencement of the Present Admin
An Inquiry Into the State of the Nation At the Commencement of the Present Admin
Fox Charles James
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Neither of those schemes was adopted. With our accustomed in- genuity, we contrived to find a line of policy which should avoid the benefits, and combine the disadvantages of all the others. We managed to lose the alliance of Spain at present, and her friendship for STATE OF THE NATION. 147 ever ; and at the same time gave up all chance of turning her hostility to our advantage. Her trade so beneficial to all the branches of our domestic industry, so essential to some of them, we aban- doned fo...r a few barrels of dollars. To prevent her from paying a subsidy to France, we incorporated her whole re- sources with those of our enemy ; and rather than allow a neutrality, which might give a trifling aid to him, we rushed into a kind of hostility which could procure no assistance for ourselves. The total alienation of Spain from our interests ; the ruin of our ancient popu- larity in that country; the absolute sub- jection of her power to that of France; has been the price paid for our acquisi- tions of silver bullion ; and next to the evils produced by the new coalition, this is the most serious misfortune which her fatal impolicy has brought upon the conti- nental affairs of England.
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