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It is proposed in this book to submit to an impartial examination the different interpretations of the meaning of the Hay-Pauncefote Treaty. Lest the writer's long association with American shipping interests may seem to militate against a detachment from personal bias in this discussion, he deems it wise to add that he is no longer engaged in shipbuilding, nor has he any interest direct or indirect in any vessel engaged in the foreign or coasting trade of the United States.
Finding many arguments advanced upon ideas gathered from hasty consideration which had not taken in both sides of the question, it was decided to try to put within these brief limits a general analysis of the Treaty's provisions, to review both sides of the controversy and to give furthermore all the state papers that show the development of the Treaty.
If the reading of this book adds to the general information of the ordinary reader without time for exhaustive study and enables him to criticise with confidence the many addresses and papers on the subject I shall feel that it has served the purpose of its inspiration.