
Source: Speech in the Guildhall, London (10 November 1878), quoted in The Times (11 November 1878), p. 10. William Gladstone had written in The North American Review: "It is [America] alone who, at a coming time, can, and probably will, wrest from us that commercial primacy...We have no more title against her than Venice, or Genoa, or Holland, has had against us" ('Kin beyond Sea', The North American Review Vol. 127, No. 264 (Sep. - Oct., 1878), p. 180)