Situated as we are between the old world and the new, and between the southern and northern Europe, all that we ought to covet upon earth is free trade, and fair equality. With more industry, with more enterprize, with more capital than any trading nation upon earth, it ought to be our constant cry, let every market be open, let us meet our rivals fairly, and we ask no more.

'Tis you, Sir, alone, in everybody's opinion, can put an end to this anarchy, if any thing can. I am satisfied your own judgment will best point out the time when you can do it with most effect. You will excuse me, I am sure, when I hazard my thoughts to you, as it depends greatly upon you, whether they become opinions; but, by all I find from some authentic letters from America, nothing can be more serious than its present state, and though it is my private opinion, it would be well for this country to be back where it was a year ago, I even despair of a repeal effecting that; if it is not accompanied with some circumstances of a firm conduct, and some system immediately following such a concession.

His lordship confessed, in respect to the recovery of North America, he had been a very Quixote, and expected, because he most anxiously wished, that our colonies might be prevailed upon to return to their former state of connection with this country. He had indeed pushed his expectations further and longer, he believed, than any impartial person, informed of all the circumstances both here and in America, the present administration excepted, ever had: but his hopes had long since vanished. He had waked from those dreams of British dominion, and every important consequence which he flattered himself might be derived from them.

I endeavoured to distinguish the real ties by which America might be supposed to hold to this country, in order to obviate objections arising from a thousand false lights thrown out on the subject; acknowledging the power of parliament to be supreme, but referring the expediency of the act to be considered in a commercial view, regard being to be had to the abilities of the Americans to pay this tax, and likewise to the consequences likely to proceed, in any event, from the late violences. The prejudice against the Americans on the whole seemed very great.

After the dismission of the present worthy chancellor, the seals would go a begging; but he hoped there would not be found in the kingdom a wretch so base and mean spirited, as to accept of them on the conditions on which they must be offered.

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He would never, consent that America should be independent. The idea he ever entertained of the connection between both countries was, that they should have one friend, one enemy, one purse, and one sword; and that Great Britain should superintend the interests of the whole, as the great controuling power. That both countries should have but one will, though the means of expressing that will might be different, distinct, and varied. He contended, that all this might have, been procured not long since; and he still retained strong hopes that it could be effected, and that, too, without measures of blood. It was once optional, and still possible; and he would never adopt any scheme which would go to dissever our colonies from us; for as soon as that event should take place, then, added his lordship emphatically, "the sun of Great Britain is set, and we shall no longer be a powerful or respectable people, the moment that the independency of America is agreed to by our government!"