Or it may have been the need to trade on British wealth. Whatever the cause, within a few short years a large part of American trade was in British hands, just as it had been before the Revolution. American trade with Europe was carried on through English merchants very much as the Navigation Acts had defined.

One of the earliest and most lasting traits of the American people is their adaptability. The Americans showed it again now. They adjusted themselves to restored trade dependence upon Great Britain. At the same time, though, they looked for new markets. A striking example can be found in the development of trade with the Far East. The story of Captain Cook's voyage around the world (1768-1771) was first published in London in 1773. It attracted a great deal of attention in America at that time. An edition of the New Voyage was issued in New @York in 1774. No sooner was the Revolution over, than there began a new trade with @China and the northwest coast of America. It made the fortunes of some families of @Salem and @Boston and @Philadelphia. This trade added to the wealth of the country as a whole. Above all, though, it sparked the imagination of Americans. In the same way another outlet was found in trade with @Russia by way of the @Baltic.

As we see, then, the foreign trade of the United States after the Revolution passed through three well-marked stages. First there was a short period of prosperity. This came from an unusual demand for American products. This was followed by a longer period of depression. And then came a gradual recovery through acceptance of the new conditions and adjustment to them.