Commercial treaty till the middle of the century, apparently with irresistible support, they suddenly collapsed under the strain of a season of exceptionally short crops. Both their continued maintenance and their final sudden abolition are in some respects divergent from the general course of British tariff history. Commercial treaty A commercial treaty is a formal agreement between states for the purpose of establishing mutual rights and regulating conditions of trade. It is a bilateral act whereby definite arrangements are entered into by each contracting party towards the other—not mere concessions. For example, the Methuen Treaty was a commercial treaty between Portugal and
Boundary Treaty of 1874 between Chile and Bolivia for 25 years. Article 4 of the treaty is worded: The Treaty of 1874 suffered formidable opposition in Bolivia. The suggestions of Peru had raised the aspirations of the country to such heights that mere peace would not suffice to satisfy them. The Legislative Assembly received the Treaty with violent hostility. There was a moment in which the Government found himself impotent to dominate the current of opposition, especially with reference to Article 4. which wounded the financial policy of Peru, which aimed to monopolize the nitrate production, and among the opposing bands in Congress attempts were made to make