Goodwood, December 30, 1785.

... If the Emperor and France keep well together, Leghorn will be also an inimical port,448 as may Algiers and Marocco if their treaties with Spain go on. Holland seems lost to us both in Europe and the East Indies; and should the Emperor and Russia unite with France, Sweden must follow, and Denmark dare not be our friend. Under such circumstances what are we to look for but utter ruin! If France is disengaged on the Continent and assisted by Spain, Holland and Russia (to say nothing of America), we must be attacked with greatly superior forces in the East and West Indies and perhaps in Canada; but, what is still worse, we shall undoubtedly have the war brought into Ireland, and I very much doubt whether we can by any means avoid that country being divided, and a large part acting against us. If any of these points of attack succeed, and above all, if our navy should meet with any disaster from superior forces, the next step will be to bring the war into this country, and the best issue of such an event must be attended with much distress. In short, the natural and political advantages of France are such that I very much fear the consequences. To divert her attention by stirring up some powerful enemy on the Continent has been long and universally considered as our only resource, and yet unfortunately we seem to be obstructing the only Power capable of creating that diversion, which is the Emperor....449

It was amidst fears so intense and prejudices so deep-seated that Pitt undertook the negotiations for a friendly commercial treaty with France which is the chief event of the year 1786.