The early commercial relations between the United States and South America in the years preceding the enunciation of the Monroe Doctrine have until quite recently received but scant attention. This neglect may in part be attributed to the historian's concern with the political implications of the revolutionary movements in Spanish. America and their bearing upon our foreign policies. In part, also, it may be ascribed to the paucity of materials (either published or in manuscript); information on commercial affairs transmitted by American special agents and consuls in the ports of Latin America was generally fragmentary and incomplete. Yet even a tardy examination of our trade relations with Chile in the years 1817-1820 may be of value, especially since the materials available for this study present a picture of the volume, the variety, and the difficulties of our trade that is unique in the annals of our early relations with South America.