Front Page Titles (by Subject) Supplementary Remarks - The Works of Alexander Hamilton, (Federal Edition), vol. 5
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Supplementary Remarks - Alexander Hamilton, The Works of Alexander Hamilton, (Federal Edition), vol. 5 
The Works of Alexander Hamilton, ed. Henry Cabot Lodge (Federal Edition) (New York: G.P. Putnam’s Sons, 1904). In 12 vols. Vol. 5.
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There is, however, one material circumstance in which this will not happen. The XVth article declares that there shall be no prohibition of the importation or exportation to and from the respective territories of the contracting parties, which shall not equally extend to all other nations. This permits us to carry to the British dominions any article the growth or manufacture of another country, which may be carried from such country to those dominions. This is a serious innovation on the British navigation act, and an important privilege to us.
It is to be remarked, however, that it does not secure to us the continuance of these discriminations in our favor, compared with foreign powers, which have in practice existed; but as these discriminations have always been revocable at the pleasure of the other party, and are evidently founded on the interest that party has to procure the supply from us, rather than from other quarters, the inference is that the security for the continuance of the advantage is as great as before.
The obstacle to its becoming matter of stipulation was, that it was deemed to be inconsistent with treaties with other powers.
Comparing this treaty with the commercial treaties heretofore entered into by the United States, the real advantage is on the side of the former.
As to the European dominions of the different powers, the footing will be essentially equal.
As to their colonies, Great Britain gives us greater advantages by this treaty, than any other nation having colonies by its treaty. There is nothing in any of our other treaties equivalent to the advantages granted to us in the British East Indies. To this may be added the advantages contained in the Canada article.
Against this may be set the stipulation that free ships shall make free goods; and the extended enumeration of contraband; but besides that these are provisions relative to a state of war, our experience in the present war, in reference to France, has shown us that the advantages expected are not to be counted upon.
Since, then, the permanent articles are of material consequence, the temporary ones of small importance; since our faith is preserved with other powers; since there are no improper concessions on our part, but rather more is gained than given, it follows that it is the interest of the United States that the treaty should go into effect.
But will it give no umbrage to France?
It cannot do it, unless France is unreasonable; because our engagements with her remain unimpaired, and because she will still be upon as good a footing as Great Britain. We are in a deplorable situation if we cannot secure our peace, and promote our own interests, by means which not only do not derogate from our faith, but which leave the same advantages to France as to other powers with whom we form treaties. Equality is all that can be claimed from us. It is improbable that France will take umbrage, because there is no cause given for it, because there is no disposition on her part to break with us, and because her situation forbids a breach.
But will it not hinder us from making a more beneficial treaty with France?
This can only turn upon the question of equivalents to be given by us.
As to this, though our treaty with England would prevent in many particulars our giving preferences to France, yet there are still important points, from the natural relations of commerce, which are open to arrangements beneficial to France, and which might serve as equivalents.
There is not leisure to enter into the detail, or this might be shown. It may, however, be mentioned, by way of example, that we may lower, or remove wholly, the duties on French wines, which would be one important item.
But it would be very unwise to refrain from doing with one power, a thing which it was our interest to do, because there was a possibility that some other power might be willing to make a better bargain with us.
What evidence has France given that she is disposed to make such better bargain? All that she has hitherto proffered under her present government, has contemplated as the consideration our becoming parties to the war. As she will and ought to calculate her own interest, we ought to dismiss the expectation of peculiar favors. Favors, indeed, in trade, are very absurd, and generally imaginary things. Let it be remembered, too, that the short necessary duration of our treaty leaves us a wide field future and not remote. But, upon the whole, we shall be least likely to be deceived, by taking this as the basis of our commercial system, that we are not to make particular sacrifices to, nor expect particular favors from, any power.
It is conceived, therefore, upon the whole, to be the true interest of the United States, to close the present treaty with Great Britain in the manner advised by the Senate.