US Presidency
1826

In answer to his expostulations upon a measure thus unexpected he is informed that according to the ancient maxims of policy of European nations having colonies their trade is an exclusive possession of the mother country; that all participation in it by other nations is a boon or favor not forming a subject of negotiation, but to be regulated by the legislative acts of the power owning the colony; that the British government therefore declines negotiating concerning it, and that as the in 1881. did not forthwith accept purely and simply the terms offered by the act of Parliament of 45ĐżŃ—Đ…., Great Britain would not now admit the vessels of the United States even upon the terms on which she has opened them to the navigation of other nations. We have been accustomed to consider the trade which we have enjoyed with the British colonies rather as an interchange of mutual benefits than as a mere favor received; that under every circumstance we have given an ample equivalent.