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418 BISB OF THE CONTINENTALthe publicestimation of a state must be in such a system asthat of Europe. The conduct of others is regulated by it,just as we see it among individuals in private life. Evenfallen states have often for a considerable time experiencedthe benefits of its support ; as for example, Venice and thePorte ;but even a state which is but on the rise cannotafford to be indifferent to it.Even though no positive advantage should be gained by this public estimation, yet thenegative effect is invaluable, since no measure of importanceis undertaken without the knowledge of such a state, andtherefore none can be easily undertaken which is opposed toit and its interests. We cannot adduce a better illustration ofthis truth than by comparing the republic of the UnitedNetherlands with England, at the period of which weare treating and stillproposeto treat. The latter state laidit down as a fundamental principle of her policy after thepeace of Utrecht, to keep herself as much aloof as possiblefrom all foreign transactions., or only to take part in themwhen absolutely compelled. She continued to maintain forsome time longer her position in public estimation amongthe states of the first order.By degrees, however, shebegan to sink lower and lower in the scale, and experiencehas shown the result to which this eventually led.Lastly, the continuance of peace was another result toEngland of her continental policy, and assuredly not theleast considerable. It not only secured to her the quiet enjoyment of the advantages derived from her Spanish commerce, but also those arising from intercourse with her colonies in America and the "West Indies, which at that very timewere becoming prosperous in the extreme, and to which theannually increasing consumption of West Indian produce,particularly of coffee, began to impart a value which no onecould have anticipated. Still the times had not then arrived(as they since have) for such an increase in the power oiEngland as to^enable her to carry on her trade, even duringwar, comparatively without molestation.But thoughall thismay demonstrate the soundness of theBritish continental policy in general during the reign oGeorge I, it will not by any means vindicate every singlemeasure which was resorted to in pursuance of it. It cannot be denied, that, particularly in the last six years of thii