Page:Memoir upon the negotiations between Spain and the United States of America which led to the treaty of 1819.djvu/76

66 in council, as well as on account of the embargo, and the war of the United States with England.

Under favourable circumstances, the value of the Anglo-American commerce, cannot be calculated, one year with another, at more than 200 millions; but at present it cannot amount to half that sum, for the general peace in Europe, has not only put a stop to the extraordinary consumption which the armies and fleets of the belligerent powers required, but has also opened the seas to all nations. Every one brings from America, and other parts of the world, what is wanted for their markets, according to the extent and state of their marine. The island of Cuba, opened to foreign commerce, injures the Anglo-Americans, as much as it benefits Spain. The colonial produce, which was before carried by the Americans, is now exported from the island in the vessels of various nations; and if all the possessions in Spanish America, enjoyed a like free commerce with that island, and would not supply themselves as hitherto from the contraband commerce of the English and Anglo-Americans, the revenue of the customs in the Spanish possessions, would produce enormous sums to the treasury; and the commerce of the United States would suffer a still more fatal blow, for they have nothing to export to these possessions, their commerce with them being altogether carried on in foreign goods and produce.

The balance of trade is generally against the United States, as it respects the islands of Cuba