consequences of a continuance of the same policy.  From the time of the revolutionary war in America until 1812, the trade between the two countries regularly increased with the increase of the population.  The average annual consumption of foreign merchandise in the United States for each inhabitant was,

    From 1790 to 1800, 39s. 4d.
      " 1800 to 1810, 41s. 8d.

“In 1812 came the second American war, and in 1815 the British corn law, which was promptly followed by the high American tariff of 1816.  For ten years prior to 1830, the annual average consumption of merchandize had fallen to 22s. 6d., while the population of the States was nearly double, and their capital treble that of the ten years preceding 1810.  Soon after 1830 followed the modification of the American tariff, and the importations based on the great transatlantic loans of that period.  But, notwithstanding the stimulation and extravagance of the time, the average annual consumption amounted to only 31s. per head of foreign produce during the ten years prior to 1840.  Abating the importation based on the loans of the last few years, and the trade of England with the United States has not increased in amount for the last thirty years, while the population of England has increased from eighteen to twenty-seven millions, and that of the States from seven to seventeen millions.

“Let the reader observe this, that in the Eastern States, in that of Massachusetts, for instance, in which State Boston is situated, the people bring a large part of their food from the Western States, where they obtain it in exchange for their manufactures.  If free trade were allowed, is it possible for any man to give a reason why the manufacturer and laborer of Manchester would not be able to do as well as the manufacturer and laborer of Boston now does, abating the difference of transporting goods and grain across the Atlantic?  At least, the consequence would be an extension of trade, and employment equal to the amount of food which would, in such case, be brought from America; and the limit to this quantity will be found only when the wants of Englishmen are supplied, and their ability to pay exhausted.  The ability of America to supply any required quantity of food has already been shown.  There lie the broad lands, ready for cultivation as soon as there shall be a demand for the produce.  And if seventeen millions of people, sent chiefly from England, or descended from those who have been sent, are not sufficient to raise the requisite quantity of provisions demanded of them by those who remain in the parent country, then let more be sent, for the land lies equally open to the people of all nations.

“Then, as to the ability of Englishmen to pay for all they want, let us ask, what those who produce the food, or those who bring it, can want in exchange that England cannot furnish?  Gold, it is said.[A] But for what do they want