From the introduction by CLR James:
The origin of this publication is typical of the relation between imperialism and its colonial dependencies. Imperialism maintains a constant attack upon and a prevailing depreciation of the people it rules (or has ruled). The attack is not always malicious. Quite often it is worse, a genuine sense of outraged superiority stimulating political ignorance and myopia and not averse to plain lying. Froudacity is a reply to an imperialist attack, an attack ignorant and myopic as usual, but this time malign and motivated. The attack was a sitting duck for a counter-blow.
See also The English in the West Indies, by James Anthony Froude.