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 first are shipped to France and used in the manufacture of olive oil. From a commercial point of view we have nothing to lose by exchanging the Gambia; and should France again broach the subject, as the present Government is now, 1881, almost identical with that which offered the settlement unconditionally in 1869, it could now hardly refuse to part with it without stultifying its former action. At present we are playing the part of the fabled dog in the manger: we will not make use of the Gambia as a means of opening up the interior, nor expend any money on the colony; and, although it is of no value to us as it is, we will not give it up to another nation, to which it would prove exceedingly useful, and which is willing to make the necessary outlay for unclosing this long-closed artery.

Our connection with the Gambia dates from 1588, in which year Queen Elizabeth granted a patent to some Exeter merchants to trade there. Thirty years later a company was formed for the purpose of carrying on this trade, which almost entirely consisted of "trafficking in black ivory," as slave-dealing was euphonically termed. After the abolition of the slave-trade this settlement, in common with the others in West Africa, declined, and the colony was almost abandoned, until in 1816 a new mercantile company