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THREE:[62]The commercial treaty with France, Pitt's greatest achievement as a financier, was not signed until the recess��namely, in September. It was conceived entirely in the spirit of Free Trade, and was an honest attempt to establish a perpetual alliance between the two nations. Its terms were:��That it was to continue in force for twelve years; with some few exceptions prohibitory duties between the two countries were repealed; the wines of France were admitted at the same rate as those of Portugal; privateers belonging to any nation at war with one of the contracting parties might no longer equip themselves in the ports of the other; and complete religious and civil liberty was granted to the inhabitants of each country while residing in the other. One result of the treaty was the revival of the taste for light French wines which had prevailed before the wars of the Revolution, and a decline in the sale of the fiery wines of the Peninsula. But the treaty was bitterly attacked by the Opposition. Flood reproduced the absurd argument that wealth consists of money, and that trade can only be beneficial to the country which obtains the largest return in gold. Fox and Burke, with singular lack of foresight, declaimed against Pitt for making a treaty with France, "the natural political enemy of Great Britain," and denounced the perfidy with which the French had fostered the American revolt. In spite of the illiberality of these arguments, Pitt, with the acquiescence of the commercial classes, carried the treaty through Parliament by majorities of more than two to one.

THREE:The news spread on every side; the retreat of the English from Concord, which always was intended, as soon as the object was accomplished, was represented as an ignominious flight before the conquering Americans, and the effect was marvellous. Men flocked from all quarters. There were some twenty thousand men assembled round Boston, forming a line nearly twenty miles in extent, with their left leaning on the river Mystic, and their right on the town of Boston. Putnam and Ward became the souls of the American army. Gage, who was awaiting fresh reinforcements, lay quiet, contented to hold his post, when he might, according to military authorities, have attacked the American lines, at first loose, and without any proper order and consistency, with great advantage. The inhabitants of Boston, not relishing the idea of a blockade, applied to Gage for permission to retire. He replied that they were at liberty to do so with their families and effects, on surrendering their arms. The Bostonians at once interpreted this to mean the whole of their merchandise, and Gage, in consequence, countermanded his permission.The silk trade received a great impulse by the erection of a silk-mill at Derby, in 1719, by John Lombe and his brothers. Lombe had smuggled himself into a silk-mill in Italy, as a destitute workman, and had then copied all the machinery. To prevent the operation of this new silk factory in England��which was worked by a water-wheel on the river Derwent, had 97,746 wheels, movements, and individual parts, and employed three hundred persons��the King of Sardinia prohibited the exportation of the raw material, and thus, for a time, checked the progress of the manufacture. Parliament voted Sir Thomas Lombe[167] ��14,000 as a compensation for loss of profits thus occasioned, on condition that the patent, which he had obtained for fourteen years, should expire, and the right to use the machinery should be thrown open to the public. By the middle of this period our silk manufactures were declared superior to those of Italy, and the tradesmen of Naples recommended their silk stockings as English ones. In 1755 great improvements were introduced by Mr. Jedediah Strutt in the stocking-loom of Lee.

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