The Express.
London, England, 1846-09-10 00:00:00

THE ORIENTAL BANK.

_ .....
In our advertising columns will he observed a series of re-
solutions mooed at a meeting of the shareholders of the
Oriental Bank, which took place on the 27th instant,
as intimated in oar last. IVe are most gratified to find
that it appears that there is no bank in existence which at
present seems more prosperous, or holds out better hopes
of success, than the Oriental. I- provides an immediate
dividend of eight, and holds out hopes of another of ten,
per cent. as most likely to fall due. The allegations that
enormous sums had been sent home, that investments in
railway scrip had been made, and that the Bank had
wound itself needlessly up with an insurance office, are all
it appears erroneous. The only investment made at home
is that of the reserved stock in Government funds, the best

at once and the most convenient security that can be ob-
tained. So tong as England remains solvent, that is, so long
83 she is England, the money is secure, and it can moat con-
veniently be made available at any time in case of remit-
tances of an unusual amount being required. We believe
that few money operations in the Bombay market would
pay better then those which took advantage of the prices of
Oriental shares depressed to a most unwarrantable extent
by reason of unreasonable misapprehension,—Bonsboy Times,
July 29.

BOMBAY MARKEIS, Aror,
.5.

MONEY.—Gcsernnerd Piier---;;47hecinotedais follows :—Five
per cent. Lout of 1825.26, R.. 110 ;Tour per cent. do. of 1832.33, Rs.
99; Four per rent, do. of 1132.30, Rs 96; Five per cent. do. of
1841-42. Rs 103; Four per cent. do. of 1312.13, RM. 96
EXCIIANGE.—The money market having become ander, exchange
on England has given war. time our lad, bills have been sold at
2a. Old. downwards, and the rate of transactions for this date may he
quoted at Is. 110. to 2s. per rupee, at 6 mouth.' sight. On Caleuva
at GO days, the rate Is at par ; on Madras, at 30 days Its, ; aid on
Chins, at 60 daya RA., 206 at 288 per 100 dola.
BANKS.—We quote Bank of Bombay share% at rm. 410 premium,
and those of the Oriental Bank rs. 155 to 175 premium per share.
PRICE OF BULLION.--.Sovereigna, each, rs. 111; Bank of Eng-
land notes, per en. 11.
PRETOTTN.—Freighta have latterly sustained a further decline,
owing to the heavy arrivals of tonnage.
atERCTIANDTSE.—.‘r the commercial season is sole now on the
point of re-opening, there is little of importance to communicate.
The monsoon ban been most favourable—the fall of rain haring al-
ready excenk.o the total annual *rouge, and the mount,' received
front the major part of the agricultural districts continue satisfactory.
METAL.S.—We have few changes to notice in the prices of any de-
nomination of thew. We quote tile comet about 4 a rupee lower
than before, and nails are cuite nominal In iron but little altera-
tion has taken place in the value of any variety. We are informed of
a axle of 184 ton. of flat bars at lin 30 per mad)' ; and another of
1,000 bundles of hoop, at It.. 6.10.0 per cwt, ia likewise said to have
taken place. Pig lead has slightly advanced in price, and quicksilver
bas declined to the extent of about Rs. 5 per mound. Saks of 300
tuba of sweedish steel at R., 10, and 200 cases of the same at IDA
per cwt., have been reported In the papers.
OOTTON MANUFACTURE-it—The market for thew ha. been, tM !
now, almost entirely closed, and we have consequently but few trans-
actions to record. The only sales indeed communicated to on are the
following ;-
230 pieces Grey longeloth., 38 rds. by 45 in., at Rs. 6 4 0 per piece.
500 ditto ditto 38 oda by 39 in., ~ 54 0 „
150 ditto Grey Domestics 60 yds. AT 28 In„ „ 69 0 „
It to expected that the fsvourable character of the monsoon will lead
ere long to a renewal of business transaction. on an extensive scale,
unless counteracted by a renewal of the scarcity of money.
YARNS.—Prices remain without much change, and no transactions
have been reported for publication. though we understalad that sales.
to the extent of abort 0,000 of Water, at 74 annas for No. 20, and
84 emus for No. 30, have had effect since our last.
MARINE STORES.—Paints have given way in price about ID. 2
to 4 per cwt., and Cordage about Rs 4, whilst In Coal Tar an im-
provement of Rs. 2 per barrel has taken place. We hear of notrana-
action..
BEER.—The dealers haring supplied themselves prior to the Issue
of our tart price current, nalcs ha. e been subsequently very limited,
and we have only heard of one of about 50 Mids. of Allsop'e, at Its. 60
per bbd.
SPIRITS are unchanged in value. We hear of a sale of 20 hhda. of
Brandy at Re. 3 1 0 per gallon.
COCHINEAL has slightly declined; we quote the article nominal,

ataer.r3nsfer lb.
N.—The transactions in this staple have not been extensive,
and there is but little alteration in prices to record. We emote Broach
and Surat at Rs. flO to 824 per candy—which is about Ba. 14 towel
than last toonth. Other sorts are without change. The quality of
the cotton now at market is inferior.
In other articles of Pastern produce we hear of no variation in price
wee Cam* which is 1 real per lb. dearer ; nor ate there any pur-
chases of importance to notice.

CALCiTTA MONEY AND StIARE MARKEY, Juty IA.
The money market Colltiflite% to exhibit smote healthy appearance,
and the rates of Interest in the Bazaar have fallen. As soon ac the
prompt of the last opium sale is provided for, we may expects quiet
state of things, it the advice! Item home are &mumble.
Government Securities of all descriptions are rising rapidly in
vale.
Exchange is less brisk. We have not heard of first-rate paper
going off better than 2s. 2d. at 10 months' date.
Bank Stock looking onwards.
_—.--

ium 10 0 a 11 0
0 B a par.
1 0a 1 8
4 0 a 4 B
discount G 8 a 7 8
5 0 a 5 8

Transfer Stock Paper, 5 per cent
Bombay S per cent
Old Sieca 5 ditto, ocoardleigto numbs.-••
New Company's S per ant
Third 4 ditto
New Cy. 4 ditto
-

Bengal Bank Ws li. (4.000) pram 2,675 a 2,700
tnion Bank
„
Agra Bank,
Oriental Bank
North Western Bank
rant OF III'LLION, &C.
Co.'s 88. 104 12 0 a 105 0 0 p. 100 a. wt.
R-77a8Ciliold Bars l5 8 0 a 16 8 0 0
Cold Dust l5 8 0 a IS 8 0 t Per sa• wt.
Spanish Dollars „....„..... 221 10 0 a 221 IR 0) „
Mexican ditto 221 00 a 221 4• f 100.
Sovereign. ll 3 0 • It 4 0 1 ~
Madras Gold Mohan....
- - - -- - --- - --

MADIIAS MONEY AND SHARE MARKET.—Jotr 20.
Fire per emit. Icon of 18th Atimust, 1823.
At the rate of Subscription, viz., 106 i Company's
Rupees per 100 Sksia Rs. • • Pox to 21 Premium.
Fire per Cent Loan of 13th January, 1830.
At the rate of Subscription, viz., 106{ Company's
Four per Cent Loan of let May, 1832.
At the rate of Subscription, viz., losi company..
Rupees r 100 Sicea
Four per t. Loon of 31st March, 11436 ... ••• ... f Discount.
Fire per Cent. Loan of 30th June, 1841 ... Premium.
Four per Cent Loan of Ist February, Discount
stock of the Fire per Cent. Book Debt Ivan Premiums.
Promissory Notes of the Tanjore Debt .. .•. 10 Discount.

DINNER TO MR. C. N. NEWD'IGATE, THE 1
PROTECTIONIST MEMBER FOP.. NORTH WAR-
WICKSHIRE.
(From our own Reporter.)
COLESHILL, Thursday Morning.
Last evening a Grand Dinner was given to Mr.
CHARLES N. NEWDEOATS, by a 'mien of his constitueats
and Mends. The entertainment tech place in &spacious teat
erected at the back of the Swan Ina, in this town ; and the
number of gentlemen who sat dowm to dinner was about
270. Amongst these were Sir Edmond Herten)). Bart.., the
Chairman ; Lord George Bich ack, M. P. ' • Lord Brooke,
M. P. ; Viscount Newport, Df. P. ,• C. B. Addr, Esq.
M. P. ; Richard Spooner, Esq. M. P. ; C. R. Cole, Esq.
M. P. ; Henry Pp), Esq. ;; J. Wheldon, Esq. the Vice-
Chairman, &c.
The usual loyal toasts having been given and drunk in
the usual style, the CRAIELMAN gave the Lord-Lieutenant
of the County, the Earl of Warrick, one of those
noblemen (be said) who had shown that he did
not prefer to maintain his place at the sacrifice of
his principles; and be oongratasted the company on the fact
of their having amongst thr.n so excellent and talented a
young nebkman as Lord Wetwick's son (Lord Brooke), who
so highly distinguished himself during the late session of
parliament, and had earned the good opinion of all those
whose good opinion was worth possessing.
Lord BROOKE, ID iczknowledging the compliment paid to
his ether, said that ilia lordship had always been a warm
and stedfin protectionist, being fully sensible of its import-
ance to the best interests of the country, and for it he would
be ready to standup to the last in its defence.
The two succeed:mg toasts were, " The Army and Navy,"
acknowledged by Capt. NEWLAND ; and "Prosperity and
debility to the F_Atablohed Church of the country, proposed
HENRY Pla, Esq., and responded to by the Bar. W.
"3,.,1/4?", ne'cor of Coleshill.
The C1).1811AN again rose to propose the toast of the
evening, 'the health (he said) of their worthy representative
Mr. Re- gdegate. !The toast was received with the Kestrel;
the.) To do honour to him that banquet had had been pre-
We'd ; to testify their approbation of his conduct in parliament
--'of the zeal, the treitituty, sad **talent with which he had

they regained that Protection which they had lost, or until
they had shifted those burthens which at present pressed so
heavily upon them, on to the backs of those who were Low
so much more able to bear the hurthens of the country. He
was satisfied, moreover, (he said) that the recent change',
had not been brtnight about by a Parliament representing
the opinions of a majority of the people of the country.
(Cheers.) After some other complimentary reference to the
exertions of Mr. Newdegate in Parliament, Sir Edmund
concluded by proposing that gentleman's health, which was
del nk with very considerable enthusiasm.
Mr. NEwnen ATE an rising was again very warmly greeted.
It would be most ungrateful (he said) Ist re he not fully
alive to those kind and neighbourly feelings which made his
friends so highly appreciate his bumble exertions in
their service. He attributed, however, the kind manner
in which he had been received more to their partiality
than to any merits which he possessed; but he assured
them that his will was with them, and that if
he did fail it was not because of his indisposition
to serve them. (Cheers). He had endeavoured,
he said, to carry out those principles which he had always
possessed, and which ware a guarantee for his future con-
duct the last time they did him the honour to send him to
Parliament. He might, indeed, well be abashed could he for
one moment imagine that he merited that vastly entertain-
ment which had been got up to do him honour; he attributed
it, however, not to his own exertions ; but he felt it to be a
proof how much they honoured consistency, and that they
had assembled there to testify their respect for political
liberty and good faith. (Cheers.) He prided himself more
than anything in the fact that his political principles were
the same in 1846 as they had been in 1841, and that theirs
remained also in complete union with his own. (Hear.)
That great meeting assured him that his heart beat with
theirs in opposing them innovations which went to deprive
native industry of its just rights and just protection. (Cheers. I
And he fully recognised that principle which held it to be
the duty and province of the Government to hold the Wane,'
of capital and labour. and by fiscal regulations to protect the
capital and native industry of the country; ar.d he thought
they would agree with him that a government abandoned •
part of its duty and disclaimed its proper functions when It'
neglected to act up to that just principle. He (Mr. Newde-
gate),
heard Lord John Russell say that he would support'
the measure of Sir Robert Peel, because it was the foundation
of a great system, one which would neither foster one branch
of industry nor the other; •,rticulture or mannfactures—tbat
he would leave each to florish or to fade according to its
merits and its intrir sic value to the country. (Hear). The
adoption of that principle be hell to be a repudiation of duty
by the government. (Cheers). He (Mr. Nevelt-gate) re-
gretted extremely to find that the potatoe disease prevailed
to so frightful an extent, and especially because, as the effect
of it would be to 'maintain the price of every description of
food, it would prevent many from satisfying themselves as to
the precise effect of the repeal of the corn laws. Ile knew
that at that time there was • feeling abroad that prices had
been maintained, and that everything was going on well ;
that there was no influx of foreign grain ; that there was no
probability of the artisan, the labourer, or the manufacturer
feeling distress; bat he assured them, that the present state
of things was delusive: it was the inevitable consequence of
consequence of that lamentable deficiency on the potato crop
of which they had heard and seen so much ; but he assured
them, that the ill effects of corn low repeal would be as sure
to be felt sooner or later as that the winter would in due
course follow that reason. (Cheers). He still maintained
the price of wheat must fall below 40s. per quarter on an
average, and he faked the farmers whether they could then
maintain their present position, and pay their labourers, if
such prices were to urevail ? (Hear.) He asked them
wbethdr t try were prepared to stand by and see all the best '
interests of the country sacrificed to foreigners? (Cries of
" No.") And he asked them whether the state of the
markets at that time formed matter of congratulation
amongst them •, or whether were at all satisfied at what had
been done in the last session of Parliament ? (Hear.) He
begged them to hear in mind that though the Anti Corn-law
League professed to have died, it was but the assumption of
a cat's sleep—it had one eye open ; they were on the watch,
and ready to take every opportunity of carrying out their
principles to what they called their legitimate solution.
(Cheers.) He urged' them to judge more themselves in
future—to be cautious who they trusted. During the whole
of last winter they had heard grave doubts expressed, and
seen dark realities, with reference to the conduct of public
men ; but the summer which had just gene by had shown
to them a faithful party betrayed; it had brought to light
a plan long laid, and long secretly determined upon. (Hear.)
It was with extreme regret that he had witnessed the
conduct of many honourable men; but he felt hound to say
with reference to them, that it was the duty of agricultural
constituences to no longer place their best interests in the
hands of men who would sacrifice them. (Hear). The recent
parliamentary struggle had raised up and shown to them
what elements and what enormity ofstrength they possessed.
They had shown strength such as Lord Brougham said con-
stituted The real strength of the count. v. (Hear). Their
struggle had brought out cis noble friend Lord George
Ilentinck, who now occupied a prouder po. ition than any
man in the country. he was the recognised leader of a great
party in the House of Commons, and a powerful party in the
country. Ile had arrived at that position from no ambitious
feeling of his own ; he knew how he had rimed others to
take the lead ; how he waisted them with valuable informa-
tion, and how he had given place to all ; but by the strength
of his own charaoter, and 'by his own powerful talents, and
superiority of intellect, in eight short months he had placed
himself on a footing with the most experienced parlia-
mentary leaders of his time. (Cheers.) It was with
pride that he saw some of the old blood of the country
again showing i'nelf, and that, too, in so good a
cause. (Cheers.) We had probably seen (he said) a
letter from their late leader, Sir Robert Peel, which
that right hon. baronet had addressed to the inhabi-
tants of the town of Elbtng in Prussia; in it ho had
actually declared that he introduced the income-tax
in 1812, not as a temporary expedient to meet a difficulty,
but as the foundation of a new system of taxation. Mr.
NEWDEOATie remarked at great length on different passages
in the address, and went on to ask what confidence could
hereafter be placed in a man who, according to his own show-
ing, introduced measures merely as a blind and a delusion ;
Sir Robert Peel had (he said) endeavoured to show that the
effect of his monetary measures had been to give paper-
money a fixed value; tutbe (Mr. N.) asked, had gold* fixed
value ? Had they not heard of a tightness in the money-
market, and did not the amount of bullion in the hash depend
on eircumstancro ? The fact was (he mid) the lam Premier
had. mortgaged all the beet interests of the country at the
shrine of the foreign trade. Mr. Newdegate text entered
into an argument to show, that, meddled as the eteuntry.wes
with a heavy debt, it was imposaible to carry out the princi-
ples of free-trade, and then wc.at on to aver, that, in his
opinion, Sir Robert Peel had sacrificed the mainstay and
independence of the country by his attempt Ile carry out the
object he professed to have in view, of our buying the
cheapest, and selling in the dearest maeket. The time
had some (he said) when met man migiht look his neigh,.
hour in the face with suspicion, since the state sould na
longer protect his property.(Hear.) The lionourable gentlenasa
nest adverted at some length, and in a somewhat tune:mess
strain, to thorecent free-trade dinner et Sheffield: he likened
Lord Morpeth, Ms. Parker and Mr. Ward to the three weird
sitters in _Vaebeth. The lively wit of Lord Morpeth had
taken fire at something, and as hoexploded, the same was
communicated to Mr. Parker, who acted as the saltpetre, and
thence to Mr. Ward who somewhat resembled the limestone.
He ridiculed that noble lord's invitation M all foreigners to
come to England with their commodities be exchange for our
manufactured good"; adverting also to his lordship's decla-
ration that it would be as dieSeult to *gain impose the pro-
tective system as to remove the Pyramids or step the }tills
of Niagara—he said that necessity might render that essential
which the nettle lord appeared to imagine impossible.
(Cheers.) He remarked next on the enteitsinments which
had been got up in Frazee in honour of Mr. Cobden, aid on
the fact that Sir Robert Peel had given a pension of NW. a-
year to Mr. M'Culloele, which lab condemned. He then went
on to say that he deemed it right to move fora Committee
of the House of Commons le inquire into the uaeonatitu-
tional manner in which the AntieCnen-Law League had
interfered with the elective franchise; that report ha I not (ho
said)unfortunately been made early enough to admit of a
bill founded upon it being. introduced into the late Session
of Parlianent, but they might rest assured that something
would be done. (Hear, hear.) It had been proved that
no less than 23,000 objections had been limed frosa the
League °Sees in Manchester in one day, and although it
had been over and over again declared that none of the
funds of that Association had been expended in purchasing
votes, yet it had also been proved, that by • little scheming
24,0001. had actually been expended in the purchase of
qualifications in three counties. (Hear.) He (Mr. New-
degate) therefore urged them, by every means in their
power, to put down such a tyrannical faction ; for that pur-
pose they must combine, (he regretted to be obliged to
recommend such a course,) but it had become indispensable.
He had been engaged during the last session of Parliament,
wader the Duke of Richmond and Lord Stanley, in the
attempt to organise a new party, and he felt proud to act
under such leaders. He assured them his task as whipper-in
had been no light one, but he was hopeful they would
eventually succeed; and that, when an election did come,
the scale would be turned in their favour. (Hear.) He said
nothing for that county, but for the sake '.of his party no
private considerations should stifle his voice ; he urged them
to remember tke words of Sir R. Peel when he was one of
them—" Register ;" and he hoped that before a very long
period had elapsed the country would have awaked from
the intoxicating Abet lately produced by the noisy cry
after " Free-trade." He congratulated them on Das:
seeming such • leader as Lord Stanley, a mad
of splendid—inerrldled talents—and whom integriq woe
unimpeach#e. Hear.) When the Whigs swerved hem
their prinetples, Stanley abandoned them; and whoa

LORD GEORGE BENTINCE in acknowledging the toast said
that he was there that day in common with a great many of
them to do honour to his boa, friend, Mr. Newdegate, and to
bear testimony to his laborious exertions during the hot session
ofperliament, and it was most unaffectedly that he told them
how much his own friend merited their approbation. (Hear.)
It was quite true that the Captain of a ship gained the cre-
dit of a victory, but it was to the master and the mate for
their organisation of the crew that the real credit was due ;
so it was with his hon. friend—whatever battle!, they had won,
were to he attributed to his exertions; for whilst others were
standing aghast at the treachery of the late government, his
hon. friend was assiduous in organising an oposition to defeat
their purnoao , (Hear.) If amongst the representatives of the
county of Warwick, there were'any backsliders, the eonstitti-
ency had still cause to be proud of their position in the
country. They could not but admire the untiring seal of
their honoured guest, neither ought they to forget
his noble friend'(Lord Brooke), for when they considered
the figure he had already made in Parliament ,the
talent he had displayed, and the exceeding beauty in
what he expressed himself—of him also they might be justly
proud, and he only hoped that many other constituencies would
fellow their excellent example by returning many such mengo
parliament. (Hear.) They wanted men who would assist
them in getting justice for themselves. l'he landed interest
of England had never for any long period been trampled
upon ; and if the landlords and the farmers and the yeomen
would only remain true to themselves they would, at the
next election, regain the day they had ion. (Cheese.) He
(Lord George Bentinck) was aware that there w many
who would say, " Oh, we have good prices, so free- .de has
not injured us much after all ;" but he advised all moms to
look at the facts before they so deceived themselves. (Hear.)
They would recollect that at the close of the last year there
was a chain cry got up respecting the failure of the potato-
crap to serve the purpose of an administration ; he was now
sorry to see that that feint had become a reality ; that the potato
failure had apnea tram one end of the kingdom to the other—
the Land's End to John o'Orosta, throughout the whole of
Ireland, and throughout the whole of the counties bordering
upon the Atlantic. (Hear.) He was, fain to confers, and
he did so with sorrow, that this time there was me sham,
but he greatly feared that this sad reality was the
just vengeance of Providence toe the great ingratitude
we had displayed in needlessly complaining of Hi• beauty.
(Hear, hear.) But when it was adduced as an argu-
mentin favour of Corn Law Repeal, that prices had
not fallen, he prayed them to look at things as
they were. This was the complete destruction of the
potato crop ; oats, a short crop; beans, a scarcity ; and
barley deficient. Under inch circumstances, almost the
whole hurthen would fall on the wheat crop ; what then
could he effected but that prices should be maintained.
(Hear.) He would, however, draw their attention to a few
facts. We were (he said) now in September, actually com-
mencing the consumption of the crop of 1816, so that we had
corn to provide for four months more in this present year
than we had in 1845, and unless the growth was one-third
greater—which was net the fact—there would inevitably,
before the next harvest, be a great scarcity of grain. (Hear.)
And when he looked at this fact, be turned to the eon
tinent to see what supply might be expected freer there.
He looked to France, but before he spoke of that oountry
be turned to the report of the French Minister of Agricul-
ture, who did not attempt to deceive people as the Minister
did in England last year. (Hear). Well, he formtl that two
millions of quarters of corn additional would actually be this
year required by France herself, so that, admitting there was
a large quantity in the United States (and lance it un-
doubtedly was), there might still not be mit% ient to
supply this country and France. One thing; however,
was certain, that pric.s would he kept up,. and that
would help to sustain the delusion that the rental
of the Corn Laws had caused no injury. (Near.) Had
it not, however, been for that scourge with which it
had pleased the Almighty to visit this countrptuid Ireland,
corn would undoubtedly have been at such a•price as could
raver tarn mails it era.uaztatiac to the grower. )
lie asked them to look for a moment at whatewita the price
of wheat on the Mth of Much and on the 1/th of August in.
the present year: the first date being before the corn-bill
passed, and the last about the time when thedlentet amongst
the potatoes was discovered to bo general! oa. the 20 of
March, he found that Ted wheat, the growth of the year
1814, was selling at from 57a. to 70s. per quarter an the 10th
of August, wheat of 1846 1•1111sellinr; at kom7l4e. to 48s. per
qr only; and what had happened 1•a the. laterals!? Why, in
the interval, the corn-bill had pate al, aria termaillions of fo-
' reign corn had been brought in for our consumption, and corn
grown in the country had decree sed ire value, to take the
average of 16.. eel. the quarter. (Bear, liar.) He found
further, that, on the same day of the month in March, wheat
was offered for sale, the growtt , of the year 1845, in the
counties of Oxford and Suffolk. —it was a bad sample—and
it fetched from 51s. to Gss. pe r quarter. On the 10th of
August last, a sample of the same wheat was offered for
sale in the same market, ar .d it fetched from 38s to 4fis.
per quarter only. (Hear, hear.) In the last week,
wheat of 11116 was lle 6d. cheaper than wheat of the same
quality offered for sale c a the 30th of March; and
wheat of 1845 was Os. per r uarter cheaper; and the duty
being now 10s. per quarter ;it made just the difference be-
tween the duty as it stand, and as it was before the Free-
trade measures passed. (' clear.) The noble lord next re-
marked at Rome length of the Sheffield meeting, end on the
fact that Lord Morpeth, 1 .ord Brougham. and others, had
not always been such at aunch Free-traders ; he thereafter
went on to say that MO' ,of the Arguments adduced by the
Corn Law'Repealers roe minded him of an anecdote related by
Colonel Thompson in o ne of his Free-trade speeches ; it was
that of a Quaker, who said to his man, on being equipped
for Yeomanry Corps. ' Take care thee doesn't cut down any
of-our customers," ant (continued the noble lord) the gallant
colonel, taking a wick r view of it, appeared to think that for
us to make all the w, ,rld our customers would be the best
way of putting au end to war. But he (Lord George)
looked at other ex nsequences as likely to result from free-
trade ; he found ' that our exports amounted to 58.000,000/.
only, whereas nu' r home consumption was upwards of
200,000,0004 ; who h he saw, too, that Coventry and Nuneaton
were exporting ' silk to the amount of about 630,0001, and
that our home consumption was upwards of 12,000,0001.
those, in thew dyes, were facts which ought to make us
anxious ta.prear .'ve our h one-trade. (Hear.) He found, too,
that four-fittla of the eoods asawslitetured In Binniegham
were for boom consumption, and that forty-nine-fiftieths of
tne saddles m .nufactared was fee our own use, it occurred
fo him that w e shoal do well to take care that, whilst the
free-trade aw ord was.laying bare the home-market, it was
not loathe* ?,own ear beat customer... (Hear.) The nohle
lord Mae ad verted to the recent alterations in the American
taraff, with the view to show that three was nothing Ike a
reeiprocity of fee Mast on the part of the Americans, with re-
fcreece to our free-trade policy; they still imposed (he Raid)
ancidamlorens didy of allagoodt exported'from this ea entry,
I, which duty is larded, not at the prim they are inannfaetureci,
but at the price daey are imported. Referring amen thee rt icle
agree pens, aftwhich (his lordship said) one hundred mil-
-1 bow are inapanied annually; aaW, taking these at a penny
;leer,* Ural* Sam actuay adds by that one thing four
haadred the:wand pouadt to the United States revenue.
(Hear.) Lfie urged the repeal ed the Excite Duties it pre-
ference to the Customs Duties.. Why, he said, heel not Sir
R. Peel bees as anxious to take off the tax kom soap sr front
'the light ',heaven (which would save many persists large
quantities.of oil andtallow) as he had bean to take the duty
off the importation of cons; but he apprehended, he said,
that this right him. baronet's sympathies did sot lie in
that quarter. (Laughter.) Ministers had thought proper to
take QM duty off slave-woven sugar, Ind the enuequence
was illat sugar from the Cuba had glen ss. fad. a cwt., or
5/. lals. a ton ; whereas, if the excise :reties wow taken off,
though we might get the articles mach cheper, (as was the
case with leather, for he was not aware that we got our
beets much Ammer, ) still the ben, At was fele by somebody
he the country; and for that reason he would prefer that the
excise deities 'should be as speedily removed as passible.
(Appian's.) He urged the farmers tn, at the next election,
imitate the example of the mss of Nottinghamshim, and
might fairly seeme their victory "off their owe bat."
Something had loan said, he observed., about Si, Robert
Peel having schemed a triumph over prejudice and self-
interest, but said the nobles lord, in conclusion, when the
right hon. baronet can look with patience upon the wife, by
her procuring husband sold, then I shell look with patience
to the triumph by which Sir Robert Peel sold agriculture—
the wife of kis choice, and who. he was pledged to protect
and cherish—to the forced embniete of free-trade. (Much
cheering.)
Lori Baooxe next gave the health of the chairman.
Sir EDMUND HARTOPP acknowledged the compliment,
and gave, in highly complimentary terms, the health of Mr.
Spooner, the member for Birmingham.
Mr. SPOONER replied at considerable length. He ap-
peared there (he said) as the representative of a large manu-
facturing population for two seasons; first to tell his hon.
friend (Mr. Newdegata) that the marnoiacturing districts
thanked him for his exertions; and secondly, to congratulate
him on the fact of his having come eont as a leading character
in the world,and on hishavinesegalmirably acquitted himself.
For his own part he had eaways felt that agriculture and
commerce were twin-eistera, born at a birth, and that they
must die and be Muiral together. He went on to ex-
press his regret that 'ate bad the misfortune to differ with
my of his constitaents, and proceeded to remark that
a more contemptible fallacy was never invented than that of
(in a country which as this is), our buying in the cheapest
and selling in the dearest market. The labourer must be
employed—the taxes must be paid, and so long as we had
the obligations to discharge which we at present bad, the
cheapest Oiarket for us was undoubtedly the British—the
home raarket. (Hear). lie differed from his right hon.
friers?, (Mr. Newdegate), when he said that capitalists would
.
be benefitted by this chanitei, a speculation might
exist for a time, but the capitalist who knew how tc.) turn
his money to account, also knew that the portion
_el
the country only could be improved when its labour was fully
employed. (Hear). He
.believed that by meow of protec-
tion for
tion the country had arrived at its present pitch of great.

•Ow reporter wo soderstood the oak lord; but moil Ms lord-
ship did not lona tbst nod pens wen sold st a paw tn."