The Sun.
London, England, 1852-11-12 00:00:00

had a material effect on tho result, viz., the extensive

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discoveries and production of gold in different parts of
the world ; and the emigration which, partly arising
from those discoveries of gold, and from other induce-
meats, has taken place to an enormous extent, and to a
still increasing extent, in the course of the last two
years. (Cheers.) But it certainly was an apprehension
which I entertained, and which I am happy to find from
various causes has not been realized, but which was until
very lately entertained by a great body of those who are
acting with me—that a fall in the price of provisions,
other things being as they were, would lead to
a corresponding, or to a more than corresponding,
reduction in the rate of wages. I think that is
a proposition which may be theoretically made clear,
and which, but for the circumstances to which I am al-
luding, might perhaps have been practically proved to
demonstration (Hear, hear.) And here 1 may say—
though I may have read an erroneous report—that I
read with considerable surprise a statement attributed
the other day to a Right Hon. Gentleman (Mr. Macaulay)
whom I rejoice to find in a such a state of health as to
be enabled again to devote his talents to public life, and
in whose brilliant capacity I think the New House of
Commons will have made a great acquisition. The
statement of which I speak is in a speech, the eloquence
of which I greatly admired, although a considerable
portion of that speech was directed, and in a manner
hardly worthy theß;ght Hon. Gentleman's talents, against
myself, and against those with whom I act ; and
I must say that if that speech is correctly reported,
I am compelled to give the Right Hon. Gentleman
greater credit for the brilliance of his oratory than for the
soundness of his judgment. [The Noble Earl here pro-
ceded to reply to Mr. Macanlay's argument, that inasmuch
as wages were high in Ohio, and yet provisions were
cheap, the Protectionist theory was erroneous, by say-
ing that between a thinly inhabited and virgin soil
country like that of Ohio, and a thickly populated highly
farmed country like England, there could be no rational
comparison, Esglend (added the noble earl) could only
be compared with England herself, and in the past cir-
cumstances of England would be found facts sufficient
to justify the former apprehensions of the protectionist
party. He then returned to his general argument.] The
circumstances of the country, then, have been widely
altered by the two important causes, I have enumerated.
In the first place, the large production, and the increas-
ing production, of geld must not only have its effects to
a certain extent on the money prices of all articles of
commerce, but by making money cheap and abundant
and consequently the rate of interest low, it enables the
employers of labour to make exertions they otherwise
could not have made, and so to furnish au amount of
employment which throws the balance in favour of
labour. by diminishing the apparent number of the cora-
petitora for employment. But beyond, and independent
of this, you must look to the emigration which has been
going on during these last two years. I hold in my
hand a return of that emigration, and I find that, taking
England and Ireland together, there have emigrated from
this country in 1850. 230.000 persons ; in 1851, 273,000
eersons ; and in 1852, 305,000 persons—making a total
in three years of 830,000 persons, most of them, be
it remembered, being in the prime of life, and all
of them being competitors in the labour market. Don't
suppose that taie emigration has taken place exclusively
from Ireland, I will show that it has not. Of
course Liverpool must to a certain extent be left out
of the calculation ; for though the returns include it
as an English port, nine-tenths of the emir cation pro-
ceeding thence is Irish. But assuming that of the emi-
grants sailing from Liverpool, only one-tenth are Eng-
lish, that is, 18.000 out of 187,000 persons, we find that
there has emigrated from England alone in the list year
a body of 80,000 persons. It is impossible, then, but
that these two circumstances combined, the large amount
of gold discovered, making money cheap, and rendering,
the means of employment easy—and, on the other hand,
the concurrent diminution of the number of competitors
in the home labour market—must have had the effect of
keeping up the rate of wages of the labouring classes,
and thereby so altering the state of affairs contemplated
in all parties' calculations as in a great degree to pre-
vent the occurrence of those evils which, but for those
mitigating circumstances, would have attended the fall
in tae prices of provisions. (Cheers.) But, my Lords,
in reviewing the results of the new system of commer-
cial policy, working, as it does, more advantageously for
the working classes than we had anticipated. I am bound
to look, not so much to the causes, but to the practical
results themselves—to the facts as I find them, produced
as those facts have been by a variety of causes, some of
which were never calculated on by any party. (Cheers.)
And I am bound to loots also to the deliberate expres-
sion of the opinions and of the feelings of the country.
(Cheers.) When at the early part of the last Session
of the last Parliament I had, most unexpectedly, the hon-
our of addressing your Lordships from the place (the
Ministerial benches.) I now stand at, I stated that it
would be my desire to be enabled to conduct the busi-
ness of the country through the Session then in progress
without any reference to those important questions upon
which a difference of opinion prevailed with regard to
legislation—that that must be a point referred to the
deliberate consideration of the country, as it would be
tested by the results of the general election—that by
the results of that general election I and my col-
leagues were prepared to abide—and that wo should
abstaiu, unless we should then have the full sanction ac d
' support of a large majority of the country, from propos-
ing even those measures which we ourselves in our pri-
vate judgment might deem the most advantageous for
the empire. My Lords, that appeal to the country has
been made; and I have no hesitation in saying to your
Lordships that, with regard to any imposition of any
duty on corn, or on other provisions of first necessity,
not only is there not that largo majority, without which
I declared I would submit no such proposition to the
consideration of Parliament; but that the country, by a
very large and very undoubted majority, including a
very considerable number of the representatives of agri-
cultural districts themselves, have declared that whether
desirable or not it might have been as a matter of policy,
yet that in the present state of the country they are de-
termined not to go back from that system of legislation
which has been established, and that they will not con-
sent to the imposition of any tax on the introduction of
articles of provision. (Loud cheers.) My Lords, I
think that question carries with it the whole financial
policy of the country. It might have been possible to
have adopted the system of free trade, as it is commonly
called, and to have made these particular articles ex-
ceptions from that system; but it is not possible to lay
down a system of policy by which you would have free
trade in corn and provisions, and by whieh you would not
follow up as far as possible the same system with regard
to the other principal necessities of life, If I under-
stand that which is intended to be said by the com-
mon expression " free trade," I understand it to mean
this—that you will not impose a tax for the purpose
of the protection of individual or local interests;
that you e ill impose a tax for the purpose of revenue
and for revenue only; and that in the imposition
of taxes for revenne you will have especial reference to
lightening the burdens which may be impsed on those
articles which mainly enter into the consumption of the
great mass of the people. (Loud cheers.) Now, my
Lords, in that system I see much advantage; but I do
not deny that I see much difficulty and future
ll
embar-
rassment. I see great present advantages; but I am
not sure—and God grant that I may be wrong—_that
that system may not lead to future embarrassment, by
the necessary consequences of the complete change in
our whole financial system. But I do not hesitate to
say that after the opinion which has been pronounced
by the people, whatever may be the views of myself and
of my friends as to what would have been a desirable
policy, I see that a concurrence of the majority in such
a policy is in itself impracticable; and that, if it were
practicable, it would still be undesirable to raise such a
question for controversy among large classes of the
people. (Loud cheers.) On the part, then, of myself
and of my colleagues, I say that I bow to the decision of
the country. (Loud cheers.) And having so bowed, I
declare, on their part and on mine, that—while desirous
to the utmost of our power to mitigate that inevitable
injury which the adoption of the free-trade policy has
inflicted on important classes—l do not adopt that po-
licy with any reserve whatever. I adopt it frankly as
the decision of the country, and honestly and fairly I
am prepared to carry it out. (Loud cheers.) I hope
that the Noble Marquis and other Noble Lords will see,
after I have said thus much, that there has not been
anyh
e country. faltering I
t w hesitationeude ib nv declaringieusly bbe improper
our in t intention n
fort io.nn3 teo,
to t
()here the injury to the presentpar-
ticular
byowcchaiscihonw,
we believe
e.nter.mailly.tfobe.anmyitidgeatateidl of
tohnostehme
spwokitehnonot f inter ering with the
dentheaftstlatisnhgould now
general policy
can have the
described as free trade. Into
mitigated
believe, have
aceettei country
to your
Lordship, that if you
esunetehr.detaßilastitlwhilalvneo
the
h bea
satisfaction
sptteh
(Laughter)—on the part of her Majesty a Government,
ofExchequer
the Chancellorthe
my Right Hon. Friend
patience to wait for the period of one short fortnight--
er Mateety s Govern-
in the present state of affairs, h
will be prepared to lay before theothemr felosuesreesowf
hich
Par-
liament, in full detail, those financial
.Lordships will ab-
stain period shall arrive, I trust your
ment are prepared to recommend. (Laughter.) Until
stain from expressing or pronouncing any opinion.
I
trust that your Lordships will at all events hear the
views her Majesty's Government entertain ; and I trust
that you will give a deliberate and dispassionate conside-
ration to the measures we may bring forward. You
may—or the other House of Parliament may—dissent
from our views, or they may adopt them. If they dis-
sent, and think fit to act on that dissent. they may—if
they can collect among themselves a sufficient number
of gentlemen ready to deal with thi3 subject, and in a
different way, and ready to deal with the other subjects
in which the great interests of the country are concerned
—they may in that case prevent the adoption of the policy
which—without any difference of opinion among them
—without any hesitation subsequent to the decision of
the last general election—the Government deliberately
adopted. But I believe there will be that good sense and
that moderation in Parliament that they will not sacri-
fice the great interests of the nation for the rairr,--- f
raising p a's,into rr)
in personal reeeitnuateees Ur ee,aviLietei
hope and I believe that on all sides of the House there
will prevail that spirit cf which we see so satisfactory
and honourable an inetahoe in the opeeeh to-night of the