Our two countries are to be at war, but not you and I. And why should our two countries be at war, when by peace we can be so much more useful to one another? Surely the world will acquit our government of having sought it. Never before has there been an instance of a nation’s bearing so much as we have borne. Two items alone in our catalogue of wrongs will for ever acquit us of being the aggressors; the impressment of our seamen, and the excluding us from the ocean. The first foundations of the social compact would be broken up, were we definitively to refuse to its members the protection of their persons and property, while in their lawful pursuits. I think the war will not be short, because the object of England, long obvious, is to claim the ocean as her domain, and to exact transit duties from every vessel traversing it. This is the sum of her orders of council, which were only a step in this bold experiment, never meant to be retracted if it could be permanently maintained. And this object must continue her in war with all the world. To this I see no termination, until her exaggerated efforts, so much beyond her natural strength and resources, shall have exhausted her to bankruptcy. The approach of this crisis is, I think, visible in the departure of her precious metals, and depreciation of her paper medium. We, who have gone through that operation, know its symptoms, its course, and consequences. In England they will be more serious than elsewhere, because half the wealth of her people is now in that medium, the private revenue of her money-holders, or rather of her paper-holders, being, I believe, greater than that of her land-holders. Such a proportion of property, imaginary and baseless as it is, cannot be reduced to vapor, but with great explosion. She will rise out of its ruins, however, because her lands, her houses, her arts, will remain, and the greater part of her men. And these will give her again that place among nations which is proportioned to her natural means, and which we all wish her to hold. We believe that the just standing of all nations is the health and security of all. We consider the overwhelming power of England on the ocean, and of France on the land, as destructive of the prosperity and happiness of the world, and wish both to be reduced only to the necessity of observing moral duties. We believe no more in Bonaparte’s fighting merely for the liberty of the seas, than in Great Britain’s fighting for the liberties of mankind. The object of both is the same, to draw to themselves the power, the wealth, and the resources of other nations. We resist the enterprises of England first, because they first come vitally home to us. And our feelings repel the logic of bearing the lash of George the III. for fear of that of Bonaparte at some future day. When the wrongs of France shall reach us with equal effect, we shall resist them also. But one at a time is enough: and having offered a choice to the