A comparative statement, he added, of the value of the exports of the two countries, would assist in confirming this opinion. The value of the exports to Great Britain, at the close of the year ending with September, 1789, was nearly double those made to France in the same period: and even the average of the years 1790, 1791 and 1792, gave an annual excess to the exports to Great Britain of three millions, seven hundred and fifty-two thousand, seven hundred and sixty dollars. The great amount of merchandise imported from Britain, instead of being a grievance, demonstrated, in the opinion of Mr. Smith, the utility of the trade with that country. For the extent of the intercourse between the two nations, several obvious reasons might be assigned. Britain was the first manufacturing country in the world, and was more able, than any other, to supply an assortment of those articles which were required in the United States. She entitled herself, too, to the preference which was given her, by the extensive credit she afforded. To a young country wanting capital, credit was of immense advantage. It enabled them to flourish by the aid of foreign capital, the use of which had, more than any other circumstance, nourished the industry of America. By the advocates for forcing a trade with France, it was asserted that she could supply the wants of America on better terms than Great Britain. To do this, she must not only sell cheaper, but give credit, which, it was known her merchants either could not, or would not give. The very necessity of laying a duty on British manufactures, in order to find a sale for those of other countries, was a proof that the first could be purchased on better terms, or were better adapted to the market. If the object of the resolutions were the encouragement of domestic manufactures, there might be some semblance of argument in their favour. But this is not contemplated. Their avowed object is to turn the course of trade from one nation to another, by means which would subject the citizens of the United States to great inconvenience. Mr. Smith next proceeded to consider the subject with a view to navigation. The trade of the United States to Great Britain, for the transportation of their own produce, was as free in American as in British bottoms, a few trifling port charges excepted. In France, they enjoyed the advantages granted to the most favoured nation. Thus far the comparison was in favour of Great Britain. In the West Indies, he admitted the existence of a different state of things. All American bottoms were excluded from the British islands, with the exception of Turks island. In the French islands, vessels under sixty tons were admitted, but this advantage was common to all other nations.