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HISTORY OF THE UNITED STATES.
Ch. 16.

convince the vainest of men that he was not the sole agent in the transaction, has elevated the President beyond imagination in his own opinion; and I have no doubt that he thinks of securing himself at the next election by having to boast of concessions and advantages derived from us, similar to those he has gained from France,—that is, great in appearance, and at a comparatively insignificant expense."

From such premises, the conclusion, so far as concerned England, was inevitable; and Thornton agreed with Merry in affirming it without reserve:—

"Everything, as it relates to this government, now depends on our firmness. If we yield an iota without a real and perfect equivalent (not such imaginary equivalents as Mr. Madison mentions to Mr. Merry), we are lost."