Situated as Chili then was, it is impossible to over-rate the importance of this acquisition--the capture of a noble harbour protected by fifteen forts, and the magazines with their vast amount of military stores, being even secondary to the political advantages gained by the Republic.
The annexation of this province, at one blow conferred on Chili complete independence, averting the contemplated necessity for fitting out a powerful military expedition for the attainment of that object, vitally essential to her very existence as an independent state; because, so long as Valdivia remained in the hands of the Spaniards, Chili was, in her moments of unguardedness or disunion, in constant danger of losing the liberties she had, as yet, but partially acquired.
The resources of the province of Valdivia, together with those of Conception, had contributed the means whereby the Spaniards maintained their hold upon the Chilian territory. Not only were they deprived of these resources--now added to those of Chili--but a great saving was effected by exonerating the Republic from the necessity of maintaining a military force in the southern provinces, as a check upon both Spaniards and Indians, who, at the moment of our conquest of Valdivia, were being let loose in all directions against the Chilian patriots.
Setting aside, therefore, the removal of danger, and the complete establishment of independence, the money value alone of the conquest was, to a Government of very limited means, of the first importance, as doing away with the necessity of military expenditure, estimated by competent judges at a million of dollars, merely to attempt the accomplishment of an object, which, without any additional cost, I had effected with a single ship, so unseaworthy that she had to be left behind.
But the advantage of the conquest did not end here. Had it not been for this capture, the Spanish power in Chili, aided by the Indians, would have found it easy to maintain itself in such a country for a protracted period, despite any military force Chili was in a condition to bring against it; so that no effective co-operation with the people of Peru could have been undertaken--as common prudence would have deterred them from entering into distant revolutionary projects, so long as the Spaniards were in possession of any part of the Chilian territory; whilst the necessity of defending herself through a protracted civil war, would have prevented Chili from aiding in the liberation of Peru, which would thus have remained a permanent base of operations for the Spaniards to annoy, if not again to recover, the Chilian provinces.