This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1833 Excerpt: ... foreign consumption, and the necessity under which we have in consequence been placed, of conciliating our customers abroad, have led to the adoption of what has been called the reciprocity system. This system was first introduced into the trade with the United States. After the North Americans had succeeded in establishing their independence, they set about framing a code of navigation laws on the model of those of this country. Among other regulations of a restrictive character, it was enacted, that all foreign vessels trading to the United States should pay half a dollar, which was afterwards raised to a dollar, per ton duty, beyond what was paid by American ships; and further, that goods imported in foreign bottoms should pay a duty of 10 per cent over and above what was paid on the same description of goods imported in American bottoms. This law was avowedly directed against the navigation of Great Britain, though, as it was founded on the same principles as our navigation-laws, from which the Stateshad formerly suffered so much, we could not openly complain of its operation. Under these circumstances, it would have been sound policy to have at once proposed an accommodation; and instead of attempting to meet retaliation by retaliation, to have offered to modify our navigation-law, in so far as American shipping was concerned, on the Americans making reciprocal modifications in our favour: --a different course was, however, followed. Various devices were resorted to for counteracting the navigation system of the Americans, without in any degree relaxing our own; but they all failed of their object; and at length it became obvious that we had engaged in an unequal struggle, and that the real effect of our policy was to give a bounty on the importation o..