Under any circumstances, this is a most extraordinary topic of argument; but it is rendered by much the more unaccountable, when we are told, that, if the war has been diverted from the great object of establishing society and good order in Europe by destroying the usurpation in France, this diversion was made to increase the naval resources and power of Great Britain, and to lower, if not annihilate, those of the marine of France. I leave all this to the very serious reflection of every Englishman. This basis was no sooner admitted than the rejection of a treaty upon that sole foundation was a thing of course. The enemy did not think it worthy of a discussion, as in truth it was not; and immediately, as usual, they began, in the most opprobrious and most insolent manner, to question our sincerity and good faith: whereas, in truth, there was no one symptom wanting of openness and fair dealing. What could be more fair than to lay open to an enemy all that you wished to obtain, and the price you meant to pay for it, and to desire him to imitate your ingenuous proceeding, and in the same manner to open his honest heart to you? Here was no want of fair dealing, but there was too evidently a fault of another kind: there was much weakness,--there was an eager and impotent desire of associating with this unsocial power, and of attempting the connection by any means, however manifestly feeble and ineffectual. The event was committed to chance,--that is, to such a manifestation of the desire of France for peace as would induce the Directory to forget the advantages they had in the system of barter. Accordingly, the general desire for such a peace was triumphantly reported from the moment that Lord Malmesbury had set his foot on shore at Calais. It has been said that the Directory was compelled against its will to accept the basis of barter (as if that had tended to accelerate the work of pacification!) by the voice of all France. Had this been the case, the Directors would have continued to listen to that voice to which it seems they were so obedient: they would have proceeded with the negotiation upon that basis. But the fact is, that they instantly broke up the negotiation, as soon as they had obliged our ambassador to violate all the principles of treaty, and weakly, rashly, and unguardedly to expose, without any counter proposition, the whole of our project with regard to ourselves and our allies, and without holding out the smallest hope that they would admit the smallest part of our pretensions.