Such was the announcement put forth in the American journals semi-officially, and the reader will judge how far this “puff direct” of the American executive was borne out by facts, or the dates and tenor of the correspondence given between the American Minister in England and the English Secretary of State for Foreign Affairs. The spirit of the most perfect liberality, and, I must add, _complete reciprocity_, seemed to pervade all Mr. Bancroft’s professions when communicating with Lord Palmerston and Mr. Labouchere, promising “little, much, and all,” according as the same could be obtained from Parliament. In his special despatch, he described the concessions his Government was prepared to grant, as universal reciprocity in its widest sense, which, if it meant anything at all, meant the opening to our ships of their extensive coasting trade in return for the opening of our still more extensive colonial trade to the ships of the United States; or, if such was not his meaning, it meant that, _when_ we opened our coasting trade, they would do so likewise. But the latter portion of his despatch, and the semi-official announcement in the ‘Washington Union,’ contain, in other respects, many vague generalities and, as subsequently appeared, the Government of the United States never had any intention of opening its coasting trade to the ships of Great Britain. [Sidenote: Excites great indignation when known in England, January 1848.] When the correspondence transpired in January 1848, it created great astonishment, if not alarm and indignation, throughout the country, especially among shipowners and all persons who considered that their best interests were interwoven with the maintenance of the Navigation Laws. The Conservative press loudly reproached Lord Palmerston for having made known the intentions of Government with regard to this important measure to the American Minister before communicating them to Parliament; nor could the Liberals approve of the course that had been adopted. [Sidenote: Parliament re-assembles on February 3, 1848.] [Sidenote: Lord Palmerston admits the correspondence with. America.]