The Sun.
London, England, 1852-03-25 00:00:00

N°.18,567.] LONDON, THUIiSDAY

COTT 'SIT WIDOWS' FUND
•::AND LIFE ASSURANCE SOCIETY.
Clean OFFICE.—EMNBURGII. 5, ST. ANDREW SQUARE.
The TEIIRTY-EIGIITH ANNUAL-GENERAL MEETING of the
MEMIIEit3 of this SOCIETY was hold owthe 21 current,
The Re o. Dr. GRANT, one of the Vice-Presidents, in the Chair.
The Report by the Directors, which was rea° to the Meeting, and
unanimously approved of, showed, inter ala, the following results,
in regard to the Society's operations, during the year 1851 :
That the Number of Policies passed was 643, covering Assn-
r ,aces to the ex cut (4'412,5651. 4s. 6d.
That the Capital of the Society amoun,,ed, at 31st December
last, to 2,4502/. 254 2d ;
That the Annual Revenue; as at the same date, was 318,6611.
IGs. 6,1.; and
That 97 Membets haft died during the year, the Sums Assured
on their Lives amounting t, 105,978/. 145. 9d., and this
mortality being in the ratio of 53 per cent. of what was to
be expected, according to calculation.
The Meeting had also under consideration three several Resolu-
tions, of which special notice had been previously given, in terms of
the Society's Constitution. 111C8 lt,iolutions were approved of,
aid ordered to be submitted to 'a Special General Court, on an
early day in September next, for final disposal. The objects con-
templated by them, are—
I. To alter the day on which iheAnnual General Court shall is
• future be held.
2. To Ostend the power, presently poSsessed by the Ordinary
Court of Directors, of allowing a .Conversion of the Reims
_Additions attaching to POlicies, into an Equivalent D;:duc-
ton from fitture Premiums;
3. To enable the Ordinary Court of Directors (under certain
• conditions and restrictions) to declare Polich-s to be free
from challenge -tmiiir any ground 'except that of non-pay-
ment of the Ordinary Annual or Extra Premiums, if such
be exigible,
A vote of thanks to" the Di-rectors and Offiee'Bearers having been
proposed and seconded, and the va::•ancies occurring in the Direction
having been filled up, the thanks of the Meeting were unanimously
voted to the Chairman fur his conduct in the Chair, and the meeting
adjourned.

JOIN MACKENZIE, Manager.
WM. LINDEz3AY, §eerctary.

Edinburgh, March, 1552.
A full Report of the Procedure at the above Meeting is in
course of being printed, and will shortly he ready for eirculattin.
LONDON- OFFICE, 4, ROYAL EXCHANGE-BUILDINGS,
HUGH ➢PKE_-h, Agent.

BRITANNIA LIFE ASSURANCE
COMPANY.
1, Princes-s; rest, Bank, London.
Established 1837.
' Empowered by Special Act of Parliament.
-ORPHANS' AND CHILDREN'S ENDOWXENT BRANCH.
This,ltranch has been esta.bliAlled. for the purpose of affording to,
parai..a...i..A1.aa0,...aa--E'rk-nus-trfe-nin-ans-orproviamgott an qtay
and inexpensive manner, efand for the maintenance and education
of their children, so as to guard against the difficulties and destitu•
tion in which infants are frequently: left by the premature deaths of
those on whom they are dependent.-
For this purpose an extensive set of Table' has been prepared,
showing the Quarterly Rat-% of. Premium required, at at all ages.' for
Annuities tap commence at the death of a Parent or Friend, awl to,
be continued until a child shall have completed (if a boy) his twenty-
first, or (if a girl) her twenty-fifth year of age.
Tables have also been prepared, showing the sums for which such
Annuities may be Commuted, when required to assist the child's
outset in life.

THE SHIPPING INTEREST.

ADDRESS DELIVERE NV.ILLIANI DIGBY SEY-
, 111.0UR,' ESQ,..I3EFORF_', THE'ELECTORS OF SLN-
-' DERLAVD.-IN' NEVTttE ASSEMBLY HALL,
SANS-STREET, ON MONDAY LAST.
Mr. Seymour me. a numerous end irfluential body of
the electors at the
_Assembly Hall, on Monday evening.
The 1101 was crowlinti: by at least 2,000 individuals.
On the rr)tion of J. B. MuseuemP, Eq., seconded
by W. Brute, Esq , Joshua Wilson, Etch was called to
the. chair,
ferrf- SEVBIOUR' who `eras received with enthusiastic
plaudits, having been-called upon by the Chairmen, ad-
dresed the meeting, amidst hearty and oft-repeated
ecclametiVbs, as tollo_ws:-
Mr.uChairmen and- Electors of Sunderland,-I am
anxious that. you,
.should understand my views upon the
greet-the vital- cpiestimiOf the shipping interest, that
before you determine-whether am to represent you in
Parliament you pay have a clear and adequate outline
of My sentiments.--(Llear, hear.) My esteemed and
excellent friend Mr. Josbue Wilaon; whose laborious and
ledefetigable exeetiows,:adiled to the patriotic z!til with
which be has devoted his,. talents and his time to the
interests of this port, heVe already in=ured him your
weeniest 'gratitu4e-(Cheers)-and which will melte his
name long remembered in this town-(Cheers)-has en-
tered Preeticallyieeo thekietails of tie euhject,and has laid
before you fee s and figures relative to the shipping of:
the country generidly aocll of this port in particular;
end, with t.h. se fats fresh in your recollec•ion, I
trust before I sit clown to lead you to the impression
that, whatever or .wheever be to blame, whatever be
the cause which operrees to depress the . shipping
interest, !bait cause
_is halt temporary-(Hear, hear)
hewever duke ethe clouds which bang
over the horizen ', at - the present moment, there
is a cheering bre,A: of blue which . promises the
returh'of ria, re prosperoui days to the desponding ship-
owners of England,-(Protracted cheers.) I doubt not
you are sufficiently, aware of the facts of our national
history, and the-pot:Rica' circumstances under which the
famous 4034 Neeigatienswas passed. -Introduced-by
iTiho Proieotor, -4.4 165 t, tut ti check upon the maritime
aronitiße ofetetiel*ClK"thOu the great ocean-carriers ce
the evorls,i; A as theereby enacted - that -no merchandise
of Asia, Africa, and- Americas should be imported into
• Great Britain in any but English, built ships, navigated
ny an English c .niniandeti with three-fourths of their
crew at least Etiglish. In addition to this exclusive
right of British- sVipping, it imposed discriminating
duties,irinolfitatgeoder Wleichimight still come in foreign
ships froriteropeewere :taxed higher than if they were
imported under the British flog. , This system of eavi-
gation was perfectediar.l.2th Chaffles IL,ch. 18, and con-
tinued during more than 160 years to be the great mari-
time charter of this i catiotry. :.Probably in that infant
state of cue marine, the effect of this system was favour-
able to,ite.gi owth'arief_ixpansioue just as you may have
seen young trees-surrounded with protecting pallisades,
which become a deformity and an encumbrance in their
maturer grqwth, and :so it proved in the case of these
restrictive' enactments. _Det;laried the law, when the com-
merce of Englend was yet in embryc-as soon as disco-
;vet) had given us e.,Nceielifereld, science new arts, in-
,itistry new na,inufavires-_when millions of customers
were found foe tur produotioni, and boundless wealth
rewarded our labours, the ;principle of the naviga-
tion law that 'eopght to shelter the little navy of a
Rule trade waseno, longer. wise or justifiable.-(Cheers,)
It was not; bowever:- re ason, or foresight, but the force
of a stern necessity that compelled this country into
the adoption of a less restrictive system.-(Hear, hear.)
True, Gretius had -written his " Mare Liberum,"
and Selden his " Mere Clausutn,"-the " Open Sea"
and the " Shut Sons,": and ,Sir M D,•cker, Sir J. Child,
and others, hail investigated the subject, and either dis-
puted or supported the policy of. these acts; but truth
was not elicited frost} these controversies. We persisted
in a rigid protector,-we.:refused to let foreign ships
share our carreing trade,-and it still continued to be
our policy to drive Mtn the shipS of England the car-
rying trade of nth U'WhoTe world.-(Hear, hear.) Mean-
while, howsever, on Abe °Otis side of the Atlantic, a new
empire was rapidly matutneg,-a young and vigorous
scion from_ the loinii Feel.. per turelatherts,-a country
which, when it wrielveak and dependent, was compelled
to submit to our protective system; but,which was, even
then; speeding forward to therligh-estiny Which awaited
its-(CheerC) The independence of the United-States
was the inevitable result of our Navigation Laws.-
(Hear, hear.) Wita that independence came a re-
newed energy, and spirit of self-reliance. Gradually the
Commercial ardour of the United' States rose superior
to the inflasuc• a which had depressed it, and at length
;in Amerietin NaVigiition Act tauebt Englund to know
that if she injured she-watild be punished-sthat retalia-
tion was the r'coil e f restriction.-(Cheers.) S; e what
followed - A EQericaßsbips. sailed to Liverpool in ballast,
butting British ships in their wake laden wi:h tobrcco,
rice, or cotton;: while. British ships traversed the At-
lantic to Ik.lgn'ir York ballast, with American ships
hard in their wake Eiden with caliboes, cutlery, hard-
care, and iron.- (Hear, hear.) A pretty game for two
gr.( at nations' to play for the :pace of 28 years-
(Laughter.) In 18'15, Ode st=ate of thiegt was put an
to by mOual consent. A treaty of reciprocity was
signed between Eriglard and America.-(lLar, hear.)
A sirciler treaty was next Made' with Portuga-Olear.
hear.) In 1823, these treaties produced Us; it natural
result-a menace of fretalietion on the part of Prussia.-
(Hear, hear.) ! The rfassian Minister of the day called
on Mr. Huskiison, and-quietly intimated the intentions
of his Governinent. Our -shipowners, too, looking for:-
Ward with anxious eye to our Prussian trade, and fear-
fill of retaliation, exerted themselves in favour of a
treaty. Meanwhile Deomark and Sweden demanded
a similar concession,--till 'at length Mr. Huskisson,
yielding to a necessity he c.(i,uld no longer oppose, intro-
duced the Reciprocity Actki', by which it was provided
that his then Majesty, King George the Fourth, might by
order in eeuried, admit _hips of foreign states into our
ports, en`payment'Or such duties as were charged on
British vessels, provided-that British ships were admitted
into the ports of such foreign . states on.payment of the
a-cme duties as were„Jetrarged: on their own vessels.
Under the authority of these Acts of Parliament, reci-
procity treaties have been concluded with the Govern-
ments different states..-(Hear, hear,) Thus,
then. Sir, ofSi thirtyr,was lEsop's.fable. realized, when we, like the
north-west wind, blew from a restrictive quarter, other
nations retaliated, be, drawing the cloak of protection
more tightly around. th_pne • but when the sun of • free
trade broke out; in warmth and biightness,' the pro-
tec(ive cloak fell from tlateir shoulders.-(Cheers.) Now
what was the eff-ct of this 'change in .our commercial
system? In the five ytetelQ- weeding 1825, when the re-
procity mee4res of ".I-;(ttakisson were passed, the
British shipping, enteretrlnwerda increased 6 per cent.,
while the foreign during The 'same period' increased 22
per cent. Renicenber that this proportion took place
while our legislative enactments were closely protective.
The ports were then; erneelito those who would deal
with us on equitable `terms. calamity and ruin were
prophesied to tea shipping-interests. But what wes the
result? In the five ears- between 1825 and 1830; -the
entries inwards of Britts_le shipping increased 17 per
or nt., while foreign only increased 12 per cent.-(Cheers.)
From that peril (.1 till 1840, -our shipping rapidly pro-
gressed, and the steadily increasing and advancing tide
of prosperity showed the soundness of the principle
upon which the new policy was based. Then another era
dawned, and the name of another great stateman became
associated with the shipping interest of the country. In
1841, Sir Robert Peel received the reins of power and
immediately set about a thorough revision of our customs
tariff. The result to the shipping inter-sta was that from
1841 to 1845 inclusive, there was an increase of 37 per
cent. entries inwards of British tonnage, while the in-
crease in foreign was only 15 per cent.-(Cheers.) The
famine of 1847 caused a suspension of our laws of navi-
gation, and the vessel of all nations were allowed to
enter our ports free with cargoes of grain or.flour. To
this we must refer the fact that in 1847 the entries in-
wards of foreign tonnage were higher, by 447,657.t0n5,
than they were in 1846., -At the close of 1849, the re-
peal of our navigthon-laws took place; and in 1850 the
entries inwards of foreign tonnaee exceeded, by 354,587
toils, what they were in 1849. The comparative rate of
increase during the five years ending 1850, of 28 per
cent. British and 50 pe'r eerie." foreign, must be ascribed
hare mentioned.-(hear, hear.) I
nes I
gentlemen, that I have proved that, taken
ttoohni tnthkhe,e tt
whwheonocl
ea
gt:teta
e Reciprocity Ac; was a step in the right
doicrceacstiioonna. ua
de:p
depression
stshi
oen
iyearsndli
ffB3e
r4e aunt d
dleBp3asr
ttmh cere nt wasof
commerce-credit receivedd-a shock, and a general panic
attribu-
table to exceptional causes, into which we
overspread the market._ These were
need not now stop to inquire. You must not,
must deal with f
you acts broadly; years by
must tnhoer
lsoeolkv east,
group years together,
you look alongside your
to form an estimate, -
SO 98
therefore,
year
feoarre ,ortaankoet'htehrefbeu `tlySooliiatmody; you
`isolated
must
toasts of a vessel in the offing,
but if you ascend the cliffs o
the sea, you may see the
f oker. or Hendon, you
the masts; thus is man who
docks, if standing on the shore you look out towards
may see the hull as well as
takes a narrow view of commercial states t. Ica will
not
tsoeethtehee
ltervuatthi
osno
of principle
that 4 itist
com-
manding survey.-(Cheers.) But do you owe nothing
more to free trade than. the-Mere relaxation of your
ohnel y
canwhen
take ascends
he
a
navigation system? Has not the repeal of the
corn-laws given a great stimulus to the ocean-car-
rying trade of" thle coiintry? bid not tho value of
England's exports rise from forty-seven millions in
1842, to seventy-one • millions in 1850? Was rot the
value of her imports swollen-from sixty-five millions,
in 1842, to one hundred millions in 1850? Did not the
aggregate amount of tonnage entered inwards
and outwards, in the United Kingdom, increase from
7,046 000 tons in 1842, to 12e019000 tons in 1850? And
if our exports and imports have been so augmented, can
it be denied that en immense advantage has been derived
by the shipping of the country? Ido not mean by the
cheapening of provisions, by. which to victual vessels,
but by the increased employment arising from the im-
petus given to our carrying trade. ' Take sugar, for in-
stance. Were there not in 1850 e 120,000 tons more of
sugar brought into this country than in 1842? Again,
with regard to corr. Were not, eight million quarters
more grain imported into Great 'Britain in 1850 than in
1842? What then! you who_eigh after protection-you
who declaim upon the wisdom and policy of the past-
would your re-iroyoo the corn and 144visOloti-laws

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