War, sir, is in its own nature a calamity very grievous to the most powerful and flourishing people, and to a trading nation is particularly destructive, as it at once exhausts our wealth, and interrupts our commerce, at once drinks up the stream and chokes up the fountain. In those countries whose affairs are wholly transacted within their own frontiers, where there is either very little money, or where their wealth is dug out of their own mines, they are only weakened by the loss of men, or by the diminution of their dominions, and, in general, can only suffer by being overcome. But the state of Britain is far different; it is not necessary to our ruin that an enemy should be stronger than ourselves, that he should be able to pour armies into our country, to cover the sea with fleets, to burn our villages by incursions, or destroy our fortresses with bombs; for he that can secure his own dominions from our attacks, to which nothing but distance and some advantages of situation are necessary, may support a war against us, and he that can fit out privateers to interrupt our trade, may, without obtaining a victory, reduce us to distress. Our situation, sir, as it preserves us from the danger of an invasion, except from that powerful monarch, the pretender, who is, indeed, always to be dreaded, has, likewise, the effect of securing other nations from being invaded by us; for it is very difficult to transport in one fleet, and to land at one time, a number sufficient to force their way into a country where the ports are fortified, and the inhabitants in arms. Our wars, sir, are, therefore, to be determined by naval battles, and those nations have very little to fear from us who have no trade to be disturbed, and no navies to be destroyed; if they can only fit out cruisers, which may always be done by granting commissions to foreign adventurers, they may ruin our merchants by captures, exhaust the nation by the necessity of convoys, and give neutral traders an opportunity of establishing their credit at those markets which have been, hitherto, supplied by our manufactures. This is, indeed, far from being at present an exact account of the state of Spain, whose wide-extended dominions are liable to insults, and from whom many of her most wealthy provinces may be torn without great hazard or difficulty. The particular state of her commerce, which, being only carried on from one part of her dominions to another, can only be for a time interrupted, but is in no danger of being invaded by any rival, or lost by disuse, at least requires our consideration, and we ought to make war with the utmost frugality, against a people whom no hostilities can really impoverish, whose commerce may be said to lie at rest rather than to be shackled, as it will rise into greater vigour at the end of the war, and whose treasures, though the want of them is a present inconvenience, are only piled up for a time of security.