interests. For Russia we had a vague attachment, and except on one occasion, she never threatened our ambitions. With France we were on good terms except during our Civil War. We disliked Spain and despised her, but events prevented our going to war with her.

It was because it paid that we kept at peace; any other policy would have been wasteful, even suicidal. Our future depended upon our ability to keep out of war. A sparse population on the edge of a vast continent, our hope of national success lay in an isolation, which would give us strength for future struggles. Our mission was to settle the empty lands to the West before other nations could pre-empt them. To embroil ourselves with strong powers was to court disaster, while even to interest ourselves in European politics would divert our mind from our own imperative task.

Our first American foreign policy, therefore was disentanglement. We often speak as though America passively abstained from entering European politics. We were, however, already a part of the unsteady balance of power, and warring France and England sought our aid, much as the two coalitions might seek the aid of a Bulgaria, not loving her but needing her help. It was a bold and above all a positive policy that Washington established when he broke the French treaty and declared our neutrality. Though denounced as dishonourable, this policy was essential to our welfare and peace, for the country was more dangerously divided in 1793 than in 1916.

How intimately our peace has depended upon our economic development is revealed by the early failure of this policy of disentanglement. Prior to 1812 our immediate economic interests overhung our territory and transcended our sovereignty. All Europe being at war, we were the neutral carriers of the world. Our ships brought merchandise to France from her colonies and allies, and goods from the West Indies and South America to all parts of Europe. In the decade ending 1801 our foreign trade, which was dependent upon the indulgence of Europe, more than quadrupled. The profits on our carrying trade were immense. Our shipbuilding industry increased, and not only were orders filled for our own foreign trade but many ships were manufactured for export. The prices of agricultural products almost doubled and our meat, flour, cotton and wool found a ready market in Europe. Our prosperity depended upon this newly created foreign trade. Sail-makers, ship-builders, draymen, farmers, merchants were dependent upon a trade which menaced the commercial supremacy of Great Britain and upon which even France looked with jealous apprehension.