The Sun.
London, England, 1847-11-25 00:00:00

THURSDA Y
~EVENING, NOVEMBER, 25, 'Fi47.

ROCHDALE, Nov. 22.—The flannel market has been
remarkably dull to•day, and the number of pieces sold
very limited, In former )ears it has usually been
about the middle of December before the demand for
pieces has slackened ; this year ii is a month earlier.
There has been very little doing in wool, and prices hare
been stationary,

HUDDERSFIELD, Nov. 23.—We have had another
dull day in the cloth hall, but rather more doing in the
warehouses, there being a few buyers, making purchases
for shipment. American houses have been busily en-
gaged in fulfilling orders for the next packets.
LEEDS, Nov. 23.—N0 feature of improvement has
been peceptible in this day's market, nor was the busi-
ness done at the warehouses this last week indicative of
revival. The stagnation is pretty general, and to meet
the exigencies of the times, short hours of labour are
resorted to by our clothiers and mi!lowners. Whether
the gradual reduction of the high discount will prove so
effectual in mending trade, as it is sanguinely antici-
pated, remains to be seen.—illanchester Guardian.

IMPERIAL PARLIAMENT.
HOUSE OF CO4IIMOIVS,IVev. 24.
The SPEAKER took the Chair at Four o'clock.
A number of Members were sworn in, amongst
whom were Sir Denham Norreys and Sir William
Clay.
ADMISSION OF JEWS INTO PARLIAMENT.
Sir R. 11. INGLIS presented a petition signed by
a large number of the clergy of Yorkshire, against
the admissibility of Jews into Parliament. Also
similar petitions from Llandaff, Liverpool, and
Rochester.
Mr. GOULBURN presented a petition from the
Vice •Chancellor, Masters, and scholars of Cambridge
against the admission of Jews into Parliament.
Petitions to the same effect were presented from
Leicester by Lord C. MANGERS and from Congleton
by Mr. JACKSON.
Lord J. RUSSELL presented a petition from the
English Presbyterians, of Chester, agreed to at a meet-
ing recently held at Stockport, which stated that the
petitioners objected to the laws which prevented
Jews from taking their seats in this House, and
praying them to remove this last barrier of intolerance,
and admit thoso members of the Jewish persuasion
with the Christian, when they were elected by
the free choice of the people.--(Loud cheers)
Mr. CARDWELL presented a petition from Liver-
pool, against, and Dr. BOWRING one in favour of,
their admission.
TRANSPORTATION TO NEW SOUTH
WALES.
Mr. EWART presented a petition fre m places in
New South Wales, praying that transports might
not be sent out to the colony, and in lieu thereof
to submit such offenders to secondary punishment.
THE BANK OF ENGLAND.
The CHANCELLOR of the EXCHEQUER
presented copies of the correspondence with the Bank
relative to the recommendation of the Government to
enlarge its discount.
11:r. HUME wished to know from the Right lion.
Gentleman, whether the papers showed the state of the
Bank on the day on which the letter of the Government
was issued, namely, the amount.of notes, bullion,
balances, and deposits ?
The CHANCELLOR of the EXCHEQU re-
plied that the papers simply contained copies of the
correspondence which had passed between the Noble
Lord, himself, and the Governor and the Deputy-
Gorernor of the Bank of England on the sub-
ject. The letter of the Government was
issued on the morning of the 25th of
October. A. statement of the condition of the Bank
of England on the 23d, the preceding Saturday, had
already appeared in the Gazette, and a copy of it
might be moved for by any Hon. Gentleman.
Mr. HUME said the Right Hon. Gentleman must
be aware that the Gazette could not be looked upon as
giving official information to the House. What the
House required was a statement of the operations of
the Bill for two or three months previous to the letter
of the Noble Lord and the Right Hon. Gentleman.
THE MURDERS IN IRELAND AND THE
PRIESTS.

Mr. HARRISON wished to know from the Right
Hon. Gentleman the Secretary for Ireland if any
steps had been taken by the Government to bring
to trial two priests, mentioned in the debate of last
night, as having denounced Major Mahon from
the altar, and who had, therefore participated in
his murder; and whether similar steps had
been taken against a priest who gave evidence at
an inquest that he had denounced the man on whom
it was held, and who was shot a few hours after ?
Sir W. SOMERVILLE—I have to state that
no steps have yet been taken by the Government on
the subject.
Mr. P. O'CONNOR wished to know whether any
steps had been taken to bring to justice the,three
persons, against whom a verdict of wilful murder
had been returned for having been concerned in a
murder, in 1884—(Laughter)—viz., Major Forrest,
Archdeacon Ryder, and Mr. 13agne1l
Sir W. SOMERVILLE—Perhaps the Hon.
Member will have the kindness to give notice of the
queatien.
UNDER-SECRETARY FOR THE COLONIES.
Mr. ANSTE Y wished to know whether Mr.
Stephen had resigned the Under-Secretaryship of the
Colonial-office, and if so, who was his successor ?
Lord J. RUSSELL said Mr. Stephen was at pre-
sent the Under-Secretary for the Colonies. He had
claimed leave of absence for a stated period on ac-
count of ill health, which had been granted to bim.
Mr. Merivale was the Under-Assistant Secretary of
Stet: to the Colonies during his absence.
PUNISHMENT OF DEATH.
Mr. EWART gave notice that on Thursday .he
should bring forward his motion recommending the
repeal of the punishment of death ; and that on Friday
he should ask the Government a question, with respect
to the Bank Charter Act, whether he intended to give
the Bank the power of increasing its issues beyond
the prescribed basis in the Bank Charter Act.
PUBLIC DE PARTMEN TS—IRELAND.
Mr. J. O'CONNELL gave notice that it was his
intention to move for a return of various public de-
partments and offices which had been transferred
from Ireland to England since the Union, and the
t2penditure of thesi several departments and offices
IrVr the last three years. He also gave notice that on
IFriday he would present a petition from the Roman
Catholic archbishops and bishops in Ireland.
THE COUNTY COURTS.
The CHANCELLOR of the EXCHEQUER
stated, in reply to Mr. Bankes, that the judges of
these courts were at present paid by fees, but that
their salaries were fixed.

FEES IN COURTS OF LAW AND EQUITY.
Mr. ROMILLY gave notice of his intention to
move upon an early day for the appointment of a
Select Committee to inquire into the fees of the
Courts of Law and Equity.
THE CASE OF CAPTAIN NORRIS.
Mr. N. MAHER gave notice that he would, to-
morrow, move for copies of the correspondence which
had taken place between the Lord Lieutenant of Ire-
land and the Roman Catholic clergy with respect to
certain attacks made by Captain Norris, of the Board
of Works, upon the character of the Roman Catholic
clergy of that country.
STATE
In THE REVENUE.
M r . Hotice of his intention to move,
UIE gave
upon ara ear
to l appointment of a Select
Committee
the Fresent state of the
yidnagyu,ir feor into
oe
revenue, with a view of ascertaining how far the
system of taxation might be altered, and the present
establishments reduced. Also, that he would to-
morrow ask the Chancellor of the Exchequer whether
it was his intention to bring in any measure to modify
or alter the Excise laws.
DISTRICT CORONERS' BILL.
Mr. G. BERKELEY gave notice that he would,
upon an early day, move for leave to bring in a Bill
to amend the District Coroners' Bill.
PRIVATE BUSINESS OF THE HOUSE.
Mr. LABOUCHERE gave notice that he would
to morrow, at the time of private business, move for
a Select Committee to consider whether any and
what improvements could be made in the mode of
conducting the private business of the House.
ARREARS OF ADMIRAL NAPIER'S PEN-
Lord INGESTRE wished. to know whether there
was any foundation for the report that Admiral Na-
pier had used the influence of his position for the
purpose of obtaining the arrears of salary due to him
by the Portuguese Government.
Mr. WARD, in answer to the Noble Lord, said, I
am much indebted to the Noble Lord for putting
that question to me at this early period of the meeting
of Parliament. I am happy to say that I am in a
condition to lay before the House the most convincing
proof of the utter groundlessness of such report.
That proof shall consist in papers above all suspicion,
from the character of the gentleman from whom they
came, and the means which he possessed of ascertain-
ing the real facts of the case. Sir Hamilton Seymour
has addressed a letter upon the subject to the First
Lord of the Treasury, with permission to make use of
the document. The letter is as follows
My Lord,—As reports to the prejudice of the
Gallant Admiral Sir C. Napier have been inserted in
some of the English newspapers, I am induced to
trouble your Lordship with the following statement.
Upon the arrival of the Gallant Admiral at Lisbon,
the Finance Minister expressed his regret that he was
unable to pay him the arrears of his pension due to
him, adding at the same time that he should make an
effort to do so as soon as possible. The answer of
Sir C. Napier was to this effect : That he had no
wish to be paid before his companions, and that he
would take his chance with the rest.' Sir C. Napier
now acquaints me that four months' pension out of '
the fifteen months thin due has been paid to him, and
this amount only has been received. He further
acquaints me that two months having elapsed sines that
pizet imp:sent was made, thirteen months payments are .

at the present moment due to him." The Gallant Admiral
' is thus placed in the same position as every other person
who has claims for pensions upon the Portuguese
Government ; he has not, therefore, abused the in-
fluence which his present position has given him. I
do not hesitate to say that I should regret as a public
calamity the occurrence of anything upon the part
of the Gallant Admiral which should interrupt the
great service which he is now rendering to the
country by the performance of his duties at the post
to m hick he has been sent by the Government
of this country.--(Hear, hear.) The services
which he is there rendering are of great value, and
will, I doubt not, be of great serviee to the country.
SUPPRESSION OF THE SLAVE TRADE.
Mr. HUME gave notice that he would to-morrow
move for returns of the number of her Majesty's
ships employed by this country on the coast of
Africa for the suppression of the slave trade ;
also the number of ships employed by France and
the United States for the same purpose, in conformity
with the treaties entered into with this country for
the suppression of the slave trade.
NEW ZEALAND.
Mr. GLADSTONE wished to know whether it
was the intention of the Government to lay on the
table of the House the answer of the Governor of
New Zealand to the dispatch with reference to waste
lands in that country ?
Sir GEORGE GREY said that the correspondence
which had taken place upon that subject would be
shortly laid upon the table, and he believed it would
comprise the answer to the dispatch alluded to by the
Right Hon. Gentleman.
LIBRARY COMMITTEE.
On the motion of Sir R. INGLIS, the Library
Committee was re-appointed.
Several of the sessional orders having been dis-
posed of,
The SPEAKER called upon Mr. Heywood, who
sat at the bar, to bring up the report on the Address.
BANK CHARTER.
Lord G BENTINCK wished to know whether
it was the intention of the Government to give a
full explanation to the House of the circumstances
which induced her Majesty to authorise her Ministers
to advise the Governors of the Bank of England to
infringe the Bank Charter Act of 1844.
The CHANCELLOR of the UXCHEQUER
said that he stated last night, in answer to a question
that had been put to him, that he was ready and
prepared to make that statement then ; but, in ac-
cordance with the apparent wish of the House, he
stated that he would do so on Tuesday. Having
made that statement, although he vas prepared now
to -tate the intentions of the Government, he thought
it would be hardly fair towards the House to make it
now.—(llear, hear.) It was not usual to introduce
suljects of such importance upon the bringing
up of the report on the address. He thought
it would be more consistent with the general
intentions of the House that he should not
make the statement now, but reserve it till Tuesday.
Ile had laid on the table of the House that day the
correspondence that had taken place ; that would be
printed and ready for Members before he made his
statement.

REPORT ON THE ADDRESS.
On the motion that the report on the address be
brought up,
Mr. OSBORNE, before 'that report was brought
up, wished to make a few observations upon ,several
parts of her Majesty's Speech. When he considered
the paralysed state of the commerce of the country,
the state of Ireland, and the relations of the country
abroad, he felt bound to call the attention of the
House to some of the topics in her Majesty's speech.
Although the Chancellor of the Ezell:quer
had stated that he would bring the subject
of the currency before the House on Tuesday, he
mint be permitted to say that he did not think the
embarrassments in trade were of a merely local cha-
racter. He could not feel satisfied until the basis of
trade was put upon a more sure foundation than it
was at present. He would give no opinion with
respect to the Bank charter, but this he would say,
that he thought the Government had acted wisely
in sending this matter before a Committee.—(Hear,
hear.) He thought the Act of 1844 had
undergone unnecessary odium. Only three banks of
issue had failed during the late monetary pressure.
With reference to that part of her Majesty's speech
relative to the civil war in Switzerland, he deprecated
any interference on the part of this country, thinking
that the example they lkad had with respect to Portu-
gal was quite sufficient to induce them not to inter-
fere. But if any interference did take place, he trusted
the rights and liberties of the people would not be
sacrificed for the sake even of the blessings of peace.
He came next to the paragraph which, stated that
her Majesty looks with confidence to the conti-
nuance of peace en the continent of Europe. Now
there was only one man in that House who
thoroughly understood foreign affairs, and that was
the Noble Lord the Foreign Secretary himself, but he
must be blessed with a superabundance of nerve who
could look with confidence to the continuance of
peace in Europe, when it was remembered that Spain,
Switzerland, and France were in a very excited state
indeed, and any spark in one of those countries might
esompromise not only the peace of Europe, but the
peace of the world. He would not dwell long upon
this branch of his subject, because, in the course of
the session, it would be his duty to call the attention
of the House to the incomplete and disgraceful state
of our national defences, and then he should have
another opportunity of reverting to this part of the
speech. He did not know that the para-
graph relating to the treaty with the Equador
was of very great importance, but of all the, serious
humbugs that had ever been perpetrated in this
country the attempt to put down the slave trade was
the greatest. These attempts, instead of suppressing
the traffic in slaves, had added to its horrors; and he
hoped some Honourable Gentleman better
acquainted with the matter than himself
would take an early opportunity of placing this
question before the House in a way that would put
it upon its true merits.—(Hear, hear.) He now came
to the most difficult portion of the speech, namely, the
portions which related to Ireland ; and here he must
express his regret that the debate last night had not
been conducted with more calmness. Pie hoped, how-
ever, that the warning of the Right Hon. Gentleman
the Secretary for Ireland would not be lost sight of,
for every indiscreet word uttered in that House
with regard to • Ireland was productive of the
most direful consequences in the sister king-
dom. The Catholic clergy of Ireland was a great
body, and, like all great bodies, it was composed
of two classes. The majority of them, no doubt,
were good men, while there might be wicked and
designing men amongst them ; but still the body, as
a vt hole, ought not to be denounced for the errors
of the minority. Ha deeply regretted that an
Honourable Member last night had felt it necessary
to animadvert with some degree of severity upon
a recent speech of a venerable Archdeacon of the Ca-
tholic Church. Far be it from him to defend that
speech, but they might take into consideration that
the reverend gentleman who delivered it was of a
most excitable temperament. (Hear, hear, and
laughter.) He (Mr. Osborne) knew him well,
and he could assure the House that he was
a very good man. For some time past the
reverend gentleman had ' been suffering from ill
health, and that, no doubt, rendered him the more
excitable. The Sunday, however, previous to the
delivery of the speech, he preached a sermon,
denouncing in the strongest terms the crimes and
outrages which were occurring in the district. He
had thought it nothing but common justice to the
reverend gentleman to mention this circumstance,
and he hoped in future he would be dealt with more
leniently. 'The next sentence in the Speech related to
the poor-law, and he could state from his
own knowledge that it had proved highly
successful; but he regretted, nevertheless, to
state that its success had been greatly perilled by
a circular which had latterly been issued by the
Secretary of State, requiring the funds in the hands
of the guardians to be paid into the hands of
the civil paymaster in Dublin. It had not
only perilled the law, but the peace of
many parts of the country, and he trusted in
future such proceedings would not be resorted to.—
(Hear, hear.) Her Majesty then went on to state
that she had heard with satisfaction that the landed
proprietors of Ireland had taken advantage of the
means placed at their disposal for improving their
estates. He could answer for it the landed proprie-
tors had been prepared to avail themselves of the
means alluded to, but he regretted to say Government
had shown a tardiness in giving them the means.
The Speech of the Queen went on to say that " in-
subordination had led to an organized resistance to
legal rights." He would, in speaking on this part,
forget that he was an Irish landlord, and that he had
received much annoyance in fulfilling its functions.
Ile should approach the discussion of the subject in
a large spirit, overlooking these temporary incon-
veniences. The lion. Member for Kilkenny rather
taunted him with having gone over to Ireland with
good intentions, but that he had abused them.
He would not say how much of his income
he had forgone, and now he would also have to forgo
his rents for years to come. In Ireland the state of
society was based upon the potato crop; it
was the money as well as the food of
the country; but had the Government proved
equ ,1 to the occasion—had they come forward with
great measures and not tinkered, the country might
have been placed on a better footing ; but now it ap-
peared to him that little was to be done save recon-
structing society in Ireland de novo. The Government
of Ireland was in safe hands, and therefore it appeared to
him that it was ungenerous to taunt Lord Clarendon with
instituting the delivery of lectures upon agriculture.
Although lectures might not do much good in the
present state of Ireland, still there were counties in
which the delivery of lectures and the em-
ployment of agriculturists would do much

good.—(llear, hear.) The outrages which had taken
place in the five counties were not, in his opinion, of
an agrarian character. When men, and women, and
children, were driven from their homes into bogs and
drains, he was justified in this expression of opinion.
They were the result of the proceedings adopted
by parties who were determined at all hazards to
obtain possession of the land. Before he could agree
to a Coercion Bill—to the suspending of the ordi-
nary laws—he must first see what measures
the Government intended to adopt to improve
the order of things.—(Hear' hear.) Though not
disposed to strengthen the hands of the Govern-
ment, and he admitted he had a high opinion of the
abilities of the Lord Lieutenant ; yet, looking at the
present state of society in Ireland, he could not rush
to a conclusion that coercion would do well for Ireland.
It might, however, be a matter of gtave doubt whether
or not a more stringent law should not be carried
out in the counties referred to. Coercion would be
but a palliative measure, and he believed that a
Bill repecting tenant right would not go to the
root of the evil, for its seat was deep.—(Hear,
hear.) As long, however, as men were
ill-housed, ill-clothed, and worse paid for their labour,
they might depend upon it that there would be no
safety for life or property. They must devise means
to raise the condition of the agricultural labourer;
he did not, however, object to such a Bill, whether for
England or Ireland. He would support any well-
devised measure which would put the relations of
landlords and tenants upon a more satisfactory foot-
ing. Looking over the programme of her Majesty's
speech, he regretted to find that a Bill which
would eventually do great service was unnoticed
—namely, a measure to facilitate the sale
of encumbered estates.—(Hear, hear.) Unless they
could free land from the shackles which now op-
pressed it, they would do little benefit to Ireland. He
therefore besought the Government to propose a large
and comprehensive measure of this kind. The land
must be improved by such means, per fas ant nefas.
Though he did not desire to increase the power of
the Irish Church, he thought that the arrange-
ment of the land in congregational, instead of
territorial portions, would pare the way to an
improved state of things in Ireland. He urged
them at once to put the legislation for Ireland on
a sound footing, or they would have to go on
in the same vicious circle from year to year. With
reference to what had fallen from the Hon. Member
for Kilkenny, he thought it was unworthy of him to
listen to vague reports; and he trusted that he (Mr.
Osborne) would not long bear the character of an
absentee landlord.
Lord G. BENTINCK protested against the doc-
trine laid down by the Chancellor of the Exchequer,
that no debate should take place on the report to the
address. He considered it as most remarkable,
that neither the Noble Lord nor the' Chan-
cellor of the Exchequer should have thought
it worth their while to state the reasons which
had induced them to give permission to the
Bank to break the law, and to propose a new
usury-law, raising the rate of interest and levying
new taxes on the trading community of the most
odious nature. Why did they fix on the 25th
of October, neither sooner nor later, to give
this relief to the community ? He did not
regret that last night the subject of Irish
distress took precedence of the not less distress
with which England was now inflicted, and im-
patient as the nation was to know the . inten-
tion of trie Ministers
.with respect to banking
measures, he was sure they would not regret
that the first attention had been paid to. jrrish
distress. But both would be disappointed if this 'de-
bate. should be brought to a conclusion without
eliciting from the Ministry a declaration of their inten-
tions with regard to the Bank Charter Act. Last year
his Right Hon. Friend the Chancellor of the Exche-
quer had been urged by deputations from the mer-
chants of England and Scotland, and also by himself
and his friends in that House, to relax the restrictions
under which the Bank was placed by that Act ;
but his Right Honourable Friend had re-
plied that the worst was passed.—(Cheers.)
The House would recollect that at a later period in
September a deputation waited upon the Chancellor
of the Exchequer from Newcastle, who foresaw that
increased difficulties would come upon the commerce
of the country, and they applied to the Right Hon.
Gentleman to remove the Bank restrictions. What
was the answer of that Right Hon. Gentleman ?
He said that he could not be expected to guard
against the emergencies of over-trading, and
over-speculation ; and that there was no
undue pressure in the money market as
regarded houses of good credit. Why, good God!
this was at a time when Exchequer-bills were at 255.
discount—when there were doubts as to whether the
Bank would be able to continue its payments, and
when, at all events, among the houses of bad credit
was to be reckoned the Treasury, whose Exchequer-
bills went down to 40s. discount. On the 22d of Oc-
tober another deputation waited upon the Right Hon.
Gentleman, from Liverpool, and as they were leaving
his room, it was said- that he gave them no hope.
Time went on, and suddenly, upon the 23d of October,
a deputation of bankers and others of the city of
London waited upon the Right Hon. Gentleman ;
the Right Hon. Baronet the Member for Tam-
worth also came to town. He did not
know whether he acted as amicus curie,
in the matter—suddenly the Government began to
relent; at the same time Mr. Pease, late a Member of
this House, came up from Northumberland and paid
a visit to the Noble Lord at the head of the Colonial
Department, and the Right Hon. Gentleman the
Member for Northumberland.
Sir G. GREY—Not to me.
Lord G. BENTINCK—That showed how neces-
sary it was that the House should be made acquainted
with the whole facts of the case. Such, however,
was the nature of the reports prevalent at the time.
The Government at length listened to the cry which
came in an appropriate moment from Northumber-
land and Durham. • They were informed that the
Northumberland and Durham Bank was upon the
point of stoppage, and unless the restrictions were
taken off from the Bank of England there would not
be a collier in these counties who, upon the following
Saturday, would receive his weekly wages, and a
significant hint was given of the value of keeping the
colliers in full employment. (Hear, hear.) It
was quite unnecessary for the House to know the
reasons which had induced the Government to post.
pone the removal of the restrictions to the late period
they did.—(Hear, hear.) Precedence had been allowed
to the discussion of thelrish question, in order to allow
of the question of the currency being brought forward
upon a subsequent occasion. No compromise had
been made upon the subject. There never
was so gloomy a speech made by any Sovereign
as that which they were called upon to consider
now.—(Hear, hear.) It had been stated by Honour-
able Members that 161,000,000/. had been expended
in railways since 1841. Where Hon. Members
got their information from he could not tell ; but were
they to be told after such statements that the country
would be brought to ruin by the expenditure of
12,000,0001. a year? It was not the high price of corn,
but the effects of free trade that took the gold out
of this country. In former times they could pay
upwards of 300,000 soldiers and marines, but now
they were told they could not pay.a few thousand
railway labourers without bringing England to
bankruptcy.—(Bear, hear.) They had lately
heard the speeches of the Kings of Belgium and
Holland, both of whom congratulated their
countries on their recovery from all their difficulties.
The French Minister, it was true,, dwelt upon the
large sums which had been expended in the country,
but he did not talk of the country being reduced to
a state of bankruptcy by that depression. On the
contrary, he congratulated his hearers upon the ge-
neral prosperity of the country. Look where they
would, they found nothing but increasing prosperity
on the continent. Prussia was gradually progress-
ing, so was Bavaria. In both places trade had
increased to a great extent. The same might be said
of Russia, and thither the famine extended itself too.
It was supposed, indeed, that it had so affected the
country that the Emperor would never be able to go
to war again, and yet within the last few months he
had been able to make large exportations of bul-
lion. What was it then that had prevented this
country from recovering from the effects of the
famine ? But it had recovered from the famine, and
now it was suffering from causes that did not exist
in the countries he had named, and he would tell
the House what those causes were. The countries
he had named protectrd their own manufactories—
their own agriculturists—their own shipping—and
gave them a decided preference over foreigners.
Here, however, they had pursued a different po-
licy, and the misery they were now suffer-
ing was the result of free trade.—(Hear, heat)
For eight years the stock of cotton had never been
so low as it was in Manchester and Liverpool at
the present moment. As many starved for cotton
as for corn. What a spectacle this city presented
from this ! The great importing city—the seat
of staple trade was now in a deplorable state. The
reason of all this was our restricted monetary system
—the Bank Charter Act. It caused cotton to be
sold 4/. less per bag than formerly—sugar
six shillings or eight shillings less per cwt.,
in Cuba or Brazil, and tea less than it cost the ex-
porters in Canton. These were the results of free-
trade doctrines.—(Cries of " Hear, hear.") I
the presence of cotton merchantsandmillowners,
he said that the prepared fabrics they manufactured
Would
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du.try. The United States have drained us of our
gold to provide for the Mexican war. Her
Majesty, while alluding to Switzerland, was
wise and politic to abstain from allusion to
Mexico. The United States had said that Lord
Palmerston must be silent if they chose to annex
Mexico and Canada, because England depended on
them for cotton and sugar. We had sacrificed India,
and given to America that monopoly of the cotton mar..
ket, which she had used so well that the cotton mer-
chants of Liverpool had, last year, lost to America
2,000,0001. at least. If the stoppage of our manu-
factures was owing to a deficient crop, how came it
that it did not operate on the manufactures of the
United States ? While our cotton manufactures had
decreased the cotton manufactures in the United
States had increased during the last year 10 per cent.
They present an increase of ten per cent. in their
manufactures, notwithstanding they are suffering
from the dearth of cotton also. While the Governd
ment was passing the Bank Charter Acts to saturate
the country with gold, as the Hon. Member for Liver-
pool had informed the House last session, other coun-
tries were enlarging their currency. Neither France,
Bavaria, or Russia were pursuing the same deem&
tive policy as this country, which was now, on the
one hand, restricting its currency, and, upon the other
hand, enlarging its commerce. The consequence was,
that England, which, a few years since, was the pride
of the world, now presented a spectacle of bank-.
ruptcy, ruin, and shame, at which the finger of
scorn was pointed by every civilised nation, from the
United States to the walls of Canton.—(Hear, hear.)
The Noble Lord then proceeded to say—When your
merchants come to you, and your manufacturers pray of
you that you will relax your monetary restrictions, and
enable those who have cotton and sugar and woollen
manufactures, awl those who have tea, to have money
lent to them at a reasonable rate of interest, you, her
Majesty's Ministers, draw back and refuse to set the
Bank of England at liberty till you find you are on the
brink of the precipice itself, and that any farther delay
would precipitate you into the gulf of irremediable
ruin. Then, indeed, you come forward, but instead of
doing as great Ministers had done in former times---10"
stead of imitating the example of Mr. Pitt, who, in the
year 1793, when he found the commerce and trade of the
country in a similar position, came forward, and ad-
vanced 5,000,0001. sterling, at 41. 16s. per cent. interest,
although the Government had borrowed, it is said, et
more—you declared that you will become limner
leaders, and set your own rate of interest. Well I
remember her Majesty's Ministers last year, when I
proposed a measure by whieli the industry of Ireland
would have been stimulated, saying ,that the Govern-
ment could not become money-lenders. What are they
now ?—(Hear, hear.) Are they not motfey-changers--
usurers? Are they not interposing to Make money
dear? Are they not raising it to a price which they
know the English merchant must pay, or perish?
Never have I heard of any country or of any Govern'
ment in the world, before the present one, that proposed
to wring money out of the necessities of the
people.ra
(Hear, hear.) We are told by the Divine law that 0
thou lendest money to the poor thou shalt not be to Nina
an usurer." Bat her Majesty's Government have turned
usurers, and fatal have been the effects throughout the
country. The money- lender by profession was too
ready to follow the example set him by the Government,
and he who before would have been ashamed to ask 1
per cent. for his money did not scruple to take 10.
Mortgages were raised from 34 to 5 per cent., while in
Scotland those made at 6 per cent. were raised to 6l -
In short, the whole ceuntry was taxed by a usury law;
it was taxed to the amount of 13- per cent., a charge far
heavier than if you were to impose an income-tax of 10
per cent. Any gentleman has only to look at the pro..
perty and income-tax returns, and he will see—es:
auming the whole land of the country to be mortgage"
for only one-third of its value, and that I be-
lieve is far below what the land of the whole 03301
is mortgaged for—that an increased charge of interest
of 1f per cent. is equal to a new tax on the lan!'
of England, Scotland, and Ireland, of 12,000,0001.
a,'year. But that is not all. I have hitherto been,
speaking of the landed property of the country ; but
there are the trading and the industrial classes of the
country ; these are taxed even 'to a higher degree by
this usurious interest. By this additional rate of
per cent. interest I will venture to say that a tax islevied upon those who are in debt and obliged to borrow/
money on interest to no less an amount than 25,000,0001.
a-year. Well, then, the Government having been awes'
conies to the exacting of this high usurious rate of inte-
rest, are we to be told-that it is not convenient that the
time of the House should be taken up on the second
night of the session to consider what were the circum:
stances which led the First Lord of the Treasury se!
the Chancellor of the Exchequer to advise the Bank
only to lend money at that high usurious rate ? Good
God ! what are we to believe ? Are we to suppose that
the Noble Lord the First Lord of the 'treasury
and the Chancellor of the Exchequer her
taken Shylock into their confidence, and that
they have only been considering how they could
exact the largest sams of money out of the nee"-
sities of this suffering country ? One would imagine
that they bad, adopted the language of Sir Giles Over-
reach, who, addressing Jack Marra!, says,—" Here is t
edshouoi
s commerce,
bring
ronfg interestiat
al nays:.
hecreepertrtdroaeepiatnees
property of
plan—all men must be sellers and I the only purchaser•
d
l
ashCarahei
have
eit Charter
that
emAtwholeoucnst
ueayrny di
stwrt
to haodeu trade, One would imagine that the original authors of the Bank
country at their diiposal. .J.Jord Bacon, I- think, hi!
d
the
country into a few hands.-:-(flear, hear.) His word '
eiaononfefd htet
the borrowers of it an uncertainty, and the end must /soon
be that all, or the greater part of the money of al
country, shall come into the box."—(gear, hear, se"
laughter.) The effect of all these measures is to trans"
ter the landed property, all the mortgaged prerert"
and the interests of all those whose moneys are embark'
ed in trade, into the hands of the money-changer.
in fact, a total transference of the property and money of
one portion of the commnnity into the hands of anotberpor. .
tion of that community. And are we, on such a props-_
sition as this, to sit down in silence and hear no word 0..
explanation from her Majesty's Ministers as to the'
•i
grounds upon which they so long upheld this injurious
13ank Charter Act; and why, when they were at lain
reduced to the necessity of relaxing it, they, in. doing
so, incited the Bank of England to exact such an amount
of usurious interest as iterer before was known toshave
_
been received in the course of the last century and a
quarter?—(Hear, hear.) I will not enter anew upon
the affairs of Ireland, further than to say that her Ma-
jesty's Ministers must make themselves responsible for
ostp one
they
the peace of Ireland.—(flear, hear.) I shall p.
my remarks upon any measures may poauce
Majesty's
I see them before the House. trust her
Ministers will not present another spectacle of a G overn-
client turning out one set of men, and then gdvern_lnthlie;
country by the principle in a resistance to which
obtained office.—(Hear, hear.) I hope, at all events,
whatever may be the measure, it will not be a CurfeW'
Act, to shut men up in their houses at night, its order to
operate as a remedy to mid-day murder. hear.)
Hear, being
But whilst lam quite prepared, on due
cause
th•
shown, to support the Government, I shall wait till
ri
ht of
measure is proposed, and reserve to myself the g
think it
givingsuited to the occas fon. I will not trouble the House by
• ty's
adverting to the foreign policy of her Majes
_en_
Govern-
ment; they, I suppose, have maintained a prudspeet re%
serve in abstaining from any observation i the
unbject of their
in regard to their foreign policy,—on
1 theetsber silent; but
policy in respect to Italy they ara to
to
say
that
she
her Majesty has been graciously pleased
has obtained a slave treaty from the republic of the
Equator. I must say her Majesty's Ministers would
have shown more tact if they had been silent on that
subject altogether.—(!Tear, hear.) The Hon. Gentleman
who seconded the Address said that there was another
link of the chain knocked off the limbs of the negro.
f new
Why, Sir, I want to know how many thousands of net_
tot_
links her Majesty's Ministers have added to those chains
which tortured the negroes by the admission of slaveo
grown sugar ?—(Hear, hear.) I shall be curious to
learn, on official authority, what the estimated awe
sr
of the increase of the slave trade may be. We do
statements in a certain paper, which is supposed so bat
times to receive information from head-quarters,
the slave trade has increased fivefold, and that the
capital embarked in it has also greatly increased.
notorious that slave-grown sugar has risen greatlll`
aleve
price ; and it is notorioas also, that the price of a_
in Cuba and in the Brazils has advanced from Sou
to
500 dollars at least. But I shall be curious to learnarl:
what extent the slave trade has increased. If we .10,
sure that more links are added to the chains of the
negro, and that more slaves are transported te Le
western hemisphere, sure also are we, by the labour W
take out of them, that no low number will suffice .
count up the thousands of lashes by which that labour
is
extracted from them. As her Majesty, on prorogt%!
the last Parliament, congratulated it upon its
given her subjects cheap sugar, she might in hot
0$
gracious Speech on opening the present Parliame.
have uttered one word of pity for the thousands_whee:
had been reduced to beggary fiy that measure. When
we rue"
we see that Government was obliged to send out ,n_st
tions to watch the export of rice from the East Indic
for fear the Mauritius should become another Icel.
__us
and the 93,000 imported Coolies, who were left without
employment and without wages, should also be destitute
of food,—when we know that Lord Grey has authorise
the Government bank to issue notes, and to advaisce...:
per ton on 50,000 tons of sugar, in order that
eui__
Coolies in that colony may be kept alive--when.wur,
the Noble Lord, with all his high currency notions
home home, is comelled to issue ten shilling assignats.
Mauritius,—when the
we see all these things, I On",
not IN
are entitld to require that we should hear,
her Majesty herself, at least from her Ministers, er...
explanation of the course which the Government
msuritiud
determined on adopting with respect to the
and the West Indies. Though her Majesty co_ng_rhea
lated the country upon its having cheap sugar...l /,_„d
there are now few persons so obtuse as not to unaerseki7e
that that measure has been one of the main cs.us
the distress which afflicts the country by producing "I
the
failure of the sugar planters in the West Indiessu
Mauritius, and the East Indies, by ruining thee.
ouse,en
merchants, by breaking up other mercantile
eeesserf
connected with that trade, and—as a n era t°
consequence—by causing the bills of manufacturers
be returned to Manchester. What is the position
Manchester at the present- moment ? The rates 1
for the support of the poor in that city are moreS:r",
double what they were at any former period---(he re.
hear.) This state of things has been caused by the
turn turn of dishonoured bills of corn and sugar met'. the
given in payment for goods. It is true, that during' g.
last ten or eleven months there has been an incr
„tst
the exportation of manufactures .to the United ow*
orte'
to the extent of some 7,000 packages ; but the loot
lions to the Canadas, the West Indies, and tn

been more or less mixed up with the question of re-
lations between landlord and tenant. The most vio-
lent outrages hate been met with the severest pents'-
ties, but we have never placed landlords and tenants
in a position in which they could respectively en-
tertain feelings of kindness and confidence towards
each other, although the rclations of landlord and tenant
are those in which such feelings are most especially re-
quisite.—(Hear, hear.) I say that this question of land-
lord and tenant has been one of the difficulties in the
ray of legislation for ninety years. It existed before
the agitation fur the removal of the Roman Catholic dis-
j abilities—before the agitation for reform—and almost
bet ore the agitation of the tithe question. I can assure
the House it is with apprehension as well us hope I
approach the consideration of this question. The Go-
vernment is devoting its earnest attention to the subject;
but we have to lament with reference to this as well as
other questions, that we are deprived of the advice and
counsel of my late lamented friend Lord Besborough.
His Lordship informed me that, although he had sketched
a plan on this difficult subject, which he thought might
be embodied in au Act of the Legislature, yet he should
not like the measure to be brought forward without his
being in his place in Parliament to explain its details.
Unfortunately my Noble Friend's illness prevented
our ever knowing what wore the views which he
entertained on the subject. I hope I have said enough
to show that we aro not liable to the charge which the
Honoureble Member rather insinuated than formally
preferred, of having coercion alone in view, unac-
companied by remedial measures. I feel now as strongly
as I ever felt that that would be a totally mistaken po-
licy. Ido think, however, that it is our primary duty to
check those atrocious crimes which we have lately heard
of in Ireland. I conceive this to be necessary, if for no
ether purpose than to protect the introduction of capital
and improvement which is so essential to the progres-
sive prosperity of Ireland. When Gentlemen express
their regret that English capital is not introduced into
Ireland for the purpose of effecting improvements in the
cultivation of the land, they should bear in mind that it
is in vain to hope that this should take place as long as
crimes of such magnitude and atrocity continue to be
committed in that country. I should hope, therefore,
that if we are successful in checking crime, that circurn-
cumstance may be placed among those things which will
tend to improve the social condition of Ireland. I will say
no more about that measure, because in a very few days
my Right Hon. Friend (Sir G. Grey) will have an op-
portunity of explaining its character to the House. With
respect to the Noble Lord (Lard G. Bentinck) I must awn
that the phrase of that statesman for whom the Noble Lord
has always professed great admiration—Mr. Canning—
" a great deal of good indignation thrown away,"—
seems to me to be very applicable to a good deal of the
Noble Lord's speech. I thought that when the Right
Hon. Gentleman, who'sits next him (Mr. Berries), asked
for an explanation of the arrangements between the
Bank of England and the Government, and of the mea
sures lately taken by which the law might have been
infringed; and when my Right Hon. Friend (the Chan-
cellor of the Exchequer) said that, the House having
gone so fully into Irish matters, it would be better to
postpone the discussion on that subject until Tuesday
next,—l thought, I say, that this was a very fair ar-
rangement, and that, as the Right Hon. Gentleman, who
is as competent a judge as anybody, seemed satisfied
with it, we should hare heard no more of the subject till
Tuesday. If the Right lion. Gentleman or the Noble
Lord had said last night that they wished the debate ti
be adjeurned, or that on the report of the Address this
question should be: fully discussed, my Right Honour-
able Friend (the Chancellor of the Exchequer')
would have been ready to take that course, both be-
cause he has no personal interest in the matter, and
because, having hadlis mind directed to the subject
for the last six weeks, he would have been as well pre.
pared yesterday or to-day to make all necessary explana-
tions on the part of, the Government as he sill he on
Tuesday next.—(Hear, hear.) And yet the Noble
Lord seems to be hardly recovered, even now, from the
indignation which he expressed with respect to the
course pursued by my Right Hon. Friend. The Noble
Lord, however, has taken this opportunity to go very
much further than that particular measure of which he
appears to complain, but of which I do not know, even
at this moment, whether he complains or not. We
thought it necessary, at a moment of great emergency,
to recommend to the directors of the Batik of England
to advance their notes upon approved secarities, telling
them at the same time that if thereby the Act of 1844
should be infringed, we would then come to Parliament
and ask for an indemnity. Having done so, we thought
it our duty to advise her Majesty to summon Parlia
ment at the earliest possible period, in order that we
might state to Parliament what had been done, and en-
able us to meet any consequences which might have
ensued from the step which was taken. If our conduct
was wrong—if it was likely to lead to public injury—if
it was on a slight or fanciful occasion that we thought
it advisable to recommend a suspension of the law, the
Noble Lord has it in his power to propose a resolution
to the House to that effect. We do not, however,
think that we have failed in our duty to the country or
the Crown by recommending this course—(Hear, hear)
—and yet, because we propose to postpone discussion on
the subject from one Tuesday to another, the Noble
Lord seems to think that we wish to avoid explanation.
I can assure the Noble Lord that he shall have all the
explanation on that subject which ho can desire, and an
account both of the causes which led to the adoption of
the measure, and of the consequences which have flowed
from it. Those consequences have shown that we were
not mistaken in the step which was taken. Those con-
, sequences have shown that, consistently with maintain-
ing the convertibility of the bank-note, we could main-
tain public confidence, which had been very seriously,
impaired.—(Cheers.) The Noble Lord alludes particu•
larly to the deputation from Liverpool, and evidently
his mistaken the sense of the answer which I gave to
that deputation. Of' course it was not for me, while the
matter was under deliberation, to state any step which
had not ie.en adopted by the Government. I told them,
At the present moment I see no public advantage in
interfering with the conduct of the Bank, but the Go-
vernment do not preclude themselves from taking any
neasure which at any moment they may think conducive
to the public interests."—(Cheers.) That was my answer
to the deputation; and when the deputation proposed that
two gentlemen of their number should call upoii me on the
following day, for the purpose of ascertaining whether
there would be any change in the intentions of the Go-
vernment, I said, " I can hold out no hope to-morrow
which I do not hold out to-day."—(Hear.) The Noble Lord
fins gone into a great deal of declamation, as
,I think,
but in which I shall not follow him, with respect to our
proposing a certain rate of interest to the Bank, the rate
of interest at that time demanded by the Bank and by
many private parties being, I believe, 7,8, or 9 per
cent. My belief is now, that in our naming that rate of
interest consisted the safety of the measure which we
authorised—(Hear, hear)—and that if, as the Noble
Lord seems to think we ought to have done, we had ad-
vised a general issue of bank notes at 41. 15s. or 5/. per
cent. interest, we should have increased that want of
confidence which it was the object of the Government to
diminish. That is all I shall say on that part of the
subject.—(liear, hear.) But the Noble Lord has thought
it proper on this occasion to raise a kind of song of
triumph on the calamitous situation of the country, and
the extreme prosperity of foreign commerce. The Noble
Lord has spoken of the French loan. We had ourselves,
some time ago, occasion to borrow a large sum, and the
terms on which the loan was contracted were 891. 10s.,
while the French Government only obtained 75 francs
25 centimes. That circumstance does not show that our
financial situation is so bad as the Noble Lord repre-
sents it. But then the Noble Lord went on, without
any show of reason for the assertion, to speak of the
calamities which had occurred, and of their connexion
with free trade. So far as I observed his reasoning, I
was reminded of the old labourer who discovered in Ten-
terden steeple the cause of the Goodwin Sands.—
(A laugh.) There have been free- trade mea-
sures, it is true, and there has been great
depression in trade ; but the connexion between the
two the Noble Lord has failed to establish. Have there
been no other periods of depression in this country ? In
the year 1793, to which the Noble Lord himself has
alluded, was there not a period of commercial depression
and panic ? And yet, at that time, those laws and du-
ties which we hnve since abrogated existed in full force ;
and the laws of protection did not prevent that depres-
sion and revulsion of trade which this country has many
times witnessed. I agree with the Noble Lord, partly,
in what he says with respect to railroads. I have never
attributed so much importance as others have done to
the effect which they have produced upon the money
market. Undoubtedly, railroads are among the causes
of the panic and distress which have been felt ; but, to
attribute the whole revulsion and distress to:the railroads
is, I think, attaching an exaggerated importance to them.
Unfortunately, Sir, whether you have protection or free
trade in this country, make your laws as you will, regu-
late your currency as yon please, it happens that this
country, when it rises to a state of great prosperity,
rushes on precipitately to build a system of
artificial and fictitious credit, which is sure, at
some moment or other, to bring down depression and a
revulsion of that prosperity. I fear that this state of
things is inseparable from that enterprise by which
our merchants are distinguished. The reason why the
panic was so great and extensive is, that there is no
country with transactions so large as ours affected as
this country must be by events which take place iu
different quarters of the world, which no one could have
foreseen or imagined. It was said a long time ago by
Lord Chatham that the credit of this country was a
sensitive plant, which shrank from the touch; and, if
this were true in the time of Lord Chatham, what is the
case now, when the substantial wealth of the country is
so much greater than it was at that time? Well, then,
if that be the case, and if engagements have been made
which are beyond the immediately available capital of
the country, there must, in consequence of that undue
extension, be a panic and collapse, during which the
country must undergo a considerable degree of suffering.
The Noble Lord has told us of the scarcity of cotton at
Liverpool, and that that is a consequence of free trade.
Does he mean to tell us that, Liverpool being a depo-
for cotton, foreign merchants resort there to buy it
at the market price, and that as a consequence,
esp culations in cotton are unduly braced up? I should
have thought that the fact of their being there
was 'rather an advantage than otherwise, and that
the circumstance of their purchasing cotton when the
market was low was a circumstance which Liverpool
traders would not look unfavourably
coma Ip in• upon. But is the
t made by the Noble Lord, that cottons and
cotton wool have been admitted at a low duty ? Why,
was a duty of 60 to 80 per
a long time ago, when there
with the foreigner in
cent., we were sc tiding those goods into the markets of
Asia and America, and competing
hardly
imagine, therefore, that it is in respect of those articles
places where protection was of no value. I can hardl •
that the Noble Lord's complaints against free trade are
made. Well, then, is it corn?—(hear, hear.) Does the
Noble Lord mean to say that he complains of the ad-
mission of foreign corn during the past year? Does he
mean to say that there is any class of statesmen in this

Indies, show a terrible balance on the other side. For
an increase of 7,000 packages on one side, there is a
falling off of 30,000 on the other. And this is your
Your balance of trade! This is the result of free trade!
When her Majesty recommends the further considera-
tion of the navigation laws, I think prudence might sug•
.gest to the Noble Lord, with all his courage, the pre-
lriety of holing his ruthless hand.—(hear, and a
augh.) Surely, in the present circumstances of the
country there is lit le to encourage us in extending
the free trade systfzu. Let us, who were told by
the Right Hon. Baronet the Member for Tanr,vorth,
in 1845, in proposing the renewal of the income-tax,
that such would be the elasticity given to trade and
commerce and all branches of industry by his new coin-
naercial policy, that he hoped to be able, some time in
the course of the next spring, to dispense with the pro-
perty and income-tax altogether--let us. who are now
told in. her Majesty's speech that she " regrets to inform
us of the injury which the revenue has sustained,"
Pause a little before wo resolve to proceed further in the
ruinous toured which has conducted us to our present
disastrous. position.—(Hear.) Remember that, if we are
bel'.eve the evidence given before the Navigation
Canhinittee, the question to which her Majesty's Speech
refers concerns a capital amounting to no less than
4,000,000/. invested in shipping alone, and 14,006,0001.
*More invested in those trades which are necessarily con-
nected with shipping.—(Hear.) Let us bear in mind
that it is a trade of which the fruits alone amount to
28,000,000/, a year, and the annual expenses to
26,000,0004 Without going now into the general ques-
tion, I say, that when a mighty interest like this is con
earned, I cannot permit the report on the Address to the
throne to pass without entering my protest against
kinisters peocceding, with regard to it, in the same rash
course which has been pursued respecting other im-
portant interests.—(Hear, hear.) Her Majesty has
been pleased to tell us that she has given directions to
have the estimates which are to be laid before us framed
with a careful regard to economy. I rejoice at that in-
formation. I feared that we might have had to listen
to some proposition for tie imposition of new taxes ;
but I hope that I may now congratulate the country on
her Majesty being abie to dispense with the imposition
of any fresh tax upon her subjects. As the property
and incense-tax expires in the course of the next
epring, sway I not venture to hope that Ministers even
contemplate the possibility of being able to dispense
with that burden ? (Hear, and laughter.) For myself,
I confess that I cannot see daylight at present. I know
sot what course we can, with safety, pursue, unless it
be that of retracing our steps. The Hon Member for
Lancashire said last night that he could sea only one
ray of sunshine to idurninate the gloom and darkness
which surrounded us, and that was to be found in the
circumstance of her Majesty having been whisked along
a railway at the rate of 45 miles an hour.—(A laugh.) •
According to the Hon Member, her Majesty passed like
a bright star through the darkness; but if he can furnish
Us with no greater hope than is afferded by that circum-
stance, I fear that we have only the prospect of a melan-
choly future before us. Oh ! how changed are the
auspices under which we commence this session as
compareda with those under which the session of 1846
yegen ! Then her Majesty permitted her Royal Con-
sort to honour us with his presence in this House, as it
'were, to swell the glory of the psgeaut—the sort of
triumphal procession by which free trade was ushered
in- Great promises were then made--high expectation,
were raised. Icm surprised at not seeing here in his
Place the Hon. Member for the West Riding of York
and the borough of Steckport. One might have ex•
Phnted that lion. Member to have appeared here to
face the dangers and difficulties of the present hour. I
think, if the lion. Member were here he would deem it
44 duty to explain how it has happened that all his
Promises and vows have been broken.—(Hear, hear.)
We knew that in 1841 the lion. Member delivered a
a celebrated address, one of those eloquent effusions
Which helped to make up the weight of 416 tons of
tracts circulated in the course of the Anti- Corn-law
ahitation—to the non•eleetors of Stockport, in which he
,toeld his audience that it was necessary only to abolish
'"e ' impious and anti-Christian corn-laws," and in two
eonths from the passing of the Bill which should
direct that object, flour would be six farthings
e Pound, whilst there would also be plenty of
-einPloyment at advanced wages. The Hon. Mem-
"r also said that every mill would be going,
and every loom in motion,—that new houses, new
It°:narches and new chapels would arise in all three
Lh'ns, and, in short, that there would be no limit to
o prosperity of the manufacturers and their work-
'°Pie• The lion. Member further called upon all
firistian men to put down the impious monopoly which
he 8541, took from each of the persons whom he was
addressing fourpence out of every shilling, which four
t:e they ought to have to expend in the purchase of
eat4l e"free, and clothing. Yes ! the lion. Member did
hesitate to declare that the un-Christian corn-law
ge?ck one-third of their food from the wives and families
h;;lthe Poor in order to increase the overgrown wealth of
• (4' buke of Buckingham and Sir James Graham.—
,hieear, hear.) I rejoice to see my Right Iron. Friend
his Place as large as life.—(A laugh.) I rejoice to
the al3' Right Hon. Friend looking so well, fresh from
Ile contemplation of those hoards of wealth which the
n°n• Alf naber for Stockport gave him credit for possess-
thgt which is doubtless a more agreeable occupation than
treat of bestowing attention upon those miserable free-
theeir " Measures which are now beginning to develop
fatal results. I also rejoice to see my Right Hon.
• Friers on the pre fnt occasion, because, if I recollect
• gligi'llY, eontempor neously with the address to which 1
Is_ h( en reterr ing appeared another from my Right
71ot Friend, arid his presence here proves that he has
become the lictire of an imprecation which he intro-
..°P"toed into that address. My Right Hon. Friend, in his
at,.sech to the electors of Dorchester, expressed his horror
n-
_certain changes then suggested by some persons,
certain
exclaimed—
" May I be cold before that dreadful day,
(RPressed with a load of monumental clay !"
ear, and laughter.) And then my Right Hon.
Ford indulged in this apostrophe—
When thou, imperial Troy, to fate must bend,
And see thy warriors fall, thy glories end !"
hellhhter.) But to revert to the promises which were
• wagee nut in 1845—how different are the results of measures from what we were taught to expect
-sealelvere promised prosperity and happiness, instead of
pi, awe see nothing but ruined employers and starving
just Ple--starving in the midst of plenty—for have we
teat thanked Almighty God for the bounteous bars
uncle? new different was the position of the country
purs the protective system, when we were content to
the old
our prosperous and wealth-making industry in
ogeto trade-winds of national and colonial protection ! thirtrear, hear.) Then came the day when, unfortunately,
it were and commerce of this country—wantoning, as
• Ipith `fP,' in their very wealth and prosperity—not content
to thelne benefits which they possessed, must needs listen
Met; seductive language of the Right Hon. Baronet the
Ssghuer for seatemorte, and the lion. Member for
h(e, Port, and to abandon the solid advantages which
gleicenioyerf for the meretricious tinsel of free trade,—
ee
Ilihorese%hleiakV NOW how changed is their state!
a Younker or a prodigal,
ega 'carped bark puts from her native bay,
eihggg'd and embraced by the strumpet wind!
Seha over-„ like a prodigal doth she return
Lean' ribs and ragged sails,
ggr ' rent, and beggar'd by the strumpet wind."
the (o
1 'T. RUSSELL—Before I allude to the speech of
es
answhic Lord,- I wish to make a few remarks in
tho „e :r to the observations made in a temperate tone by
ihg 'ion- Member for Middlesex, who inquired respect-
certain measures propose bydthe
stkaTttl,re respecting which the Hon. Member inquired
went passed passed in the last session of the last Parlia-
i,a,_ or advancing money for the improvement of
<a property. The Hon. Member asked why that
that
ail
had not been acted upon? I can assure hies
hatot ahll the persons engaged in carrying that measure
and
.eircet have given their best attention to the subject,
gap:loans happy to say that more than a million and a
th.! 8 r money has been applied for under that Act. Of
4441 ht sins more than half a million has been sanctioned,
g".titt. is evident, therefore, that the Act is in full
er!. ti.on.—(llear, hear.) Of course there were many
forms
inquiries to be made—of course there were
'met connected with the, advance of
'security of estates which it vv.
necessary money
etyo comply
pthe
'
With, and no doubt many person':
ctus© the advances have not been ma e at an earlier
e disappointedd be-
peereiod; but, advances to the amount I have stated havin
tn°oll sanctioned, it is to be presumed that theg
Rivr,lC'Y bo properly applied, and be the means of
dehang increased employment to the people of Ireland
also g the present winter.—(Hear.) The Hon. Member
gleott„referred to the Encumbered Estates Bill. That
®asre Wail
withdrawn towards the close of the gist
session, Partly on account of the advanced period of the
segi" n ands partly because of a very strong opposition
aggash s pndrung up against it on the part of some parties
ttehe'clere interested in it. That subject has also ob-
basin, the attention of the Government, and a Bill
troer similar object to that of last session will be in-
attegni_ late. this or the other House of Parliament. I
ad, In greatest importance to a measure of that
18 the 41 my opinion one of the greatest evils of Ireland
meansao nominal possession of estates by persons who have
tcaanr of improving them and doing justice to their
that e'th-(Rear, hear.) In many
govrannuation, havinginstances persons in
estates without the means of
ea:ieng them would large
able, by selling a part, to
eta 'n remainder far more valuable. With reference
'letntnhration, which was also referred to by the lion.
AtliLa* 'L, I have generally held that emigration is useful
"lieeell'idiare- measure in some respects, but I do not
that there is that over-population in Ireland.
hire Mc persons e I believe that if agricul-
goun,trwhich is the great branch of' industry in that
theret ''."'re to be pursued with skill and science,
erea.lst be means in Ireland of supporting, not only
ete"l but es-en a greater population than it has hitherto
hi"::4incd•—(Hee.r, hear.) There is another measure.
)14 en
be Introduced
raely, a !educed in the course of the session,
o Bill;torseemear,heloarr the amendment of the grand jury
TO. muchar,
tend te.i)th That. is a measure which will
same
subject improvement of the country.
o vast importance, and, at the
the,e lime, se difficut
to • ' for the Legislature to deal with,
we have devoted flies reatest attention
eg,
`ally e have gone over the details" of a I will
at 'res
fa that hope to be
.able to introduce
_car to us to he chaiisot embodied regulations which ap-
do
inland,
the
with the improvement of the
ch.
defeasti%one hand, and with the un-
00' d and in
go- • --(Hear, hea rights of property, on the
to (ggstion
of-
tri) I allude to the great and difii-
is'i...nhnt I leek tetelett relations between landlord and
s'QL. I find that for r what has happened in Ireland,
f.ence, of poverty, annsdty Years the questions of sub-
of crime, in thet country have

tritSDA EVE

House, or in the country, who arc so determined on pro- ls. per pound. That was a necessary effect of over-
tection, that when wheat is at 110 s. the quarter, they speculation. Whether the Bank was under restriction
would impose on it a prohibitory duty?—(Cheers.) or not, after a period of gradual progress towards pros-
Even under. the Act of 1828, of which the Noble Lord perity, the degree to which credit rose was of itself one
has been heard to express his admiration, when wheat of the causes of the evils that followed. Would his Hon.
was 725. or 735. a quart-r, foreign corn was admissible Friend opposite Venture to say that half-a-dozen or a
at Is. a quarter duty. dozen of the largest houses that had recently failed were
Lord G. BENTINCK—I never expressed any admire- wealthy ? Why, many of them had been in a state of
1
tion of the Act of 1828.`'=” ■;IXR4.---"'erd, bankruptcy for years. It was only the state of the
Lord J. RUSSELL—I am mistaken, then, in that re- country that exposed their condition, and prevented
specs. Perhaps the Noble Lord is in favour of a more greater evils. Nothing could be more unfortunate than
prohibitory law.—(Hear, hear, and a laugh.) But still the existence of such large concerns, possessing great
the Noble Lord is called on to explain whether, when credit, and thereby interfering with the prudent and at-
wheat is at 110 s. the quarter, he would still have a duty tentive man of business. With the credit they possessed
of 20s. or 303. imposed upon it. It is evident that they had sustained themselves for years; but, when he
such a system could not he maintained, and it is saw one house failing for 1,000,0001, another for
equally evident that in admitting corn duty free we had 1,500,0001, and a third ter 500,000/, he would venture to
the assent of this House, and of the other House of Par. say, that if they would look to the Manner in which those
liament, and of every rational man in the country.— debts had accrued, not one in ten of those houses ought
(Cheers.) And if s ('U have to send out of the country to have been in existence ten years ago. It
was for the
many millions of gold to pay for it, yet a state of benefit of commerce that they should he removed. He
famine and scarcity is such that you must get corn was sorry for the victims, and that the failures should
wherever it ie to be bought, and admit it duty free. take place all at once, for he would rather that those
That state of circumetances, however, has nothing to houses had gradually d
es d decned witho
do with the question of free trade, but has entirely coming together to that recreaseult whichand had )spread alarmut
arisen out of an unavoidable emergency. But then the in the country, and which was most dangerous to the
Noble Lord goes on to complain that tea, coffee, and credit of small dealers and men who went on in a mode-
sugar are at very low prices, and that traders aro obliged rate manner. One of the best means of restoring things
to sell those articles at a loss. That, again, Sir, is not to a prosperous state was to prevent extravagance in the
the fault of free trade. Free trade does not oblige public service ;to bring them within a proper limit.
gentlemen to import articles at a loss. The whole He was always for paying wel those did serve
matter is a speculation of their own. They may have the public ; but not those whom theyl did notwho want. lie
mistaken the price at which those articles may bo sold, would, for instance,
Save 1,500,000/. by doing awry with
but free trade leaves them to their own calculations of the absurd blockade of the coast of Africa, and he hoped
loss and profit. Surely, this is far better than laying it before any attempt was made to renew the income-
down by Act of Parliament at what prices articles shall tax, a proper explanation would be given why the
be sold. It is by no means, I assure the Noble Lord, a people of England were put to such an expense.
sine qua non of free trade that these gentlemen shall He had moved for a return which would show the
import at a loss or continue to sell without reasonable House the enormous amount this country had paid
profit. Now, then, with regard to the actual state of and which had only ended in an aggravation
the country. The Noble Lord thinks that the want of of the horrors of the slave trade, and he could not
protection and the laws relating to the currency have think that the time was far distant when the country
brought us into a state which he called no less than a would put an end to that expense. Ile had believed it
state of shame, bankruptcy, and disgrace.—(l.lear, hear.; , was most mischievous, and that for every slave that
I should be very sorry if these terms were applicable to would, but for their interference, have been destroyed
the condition of this country, but Ido not consider that on the coast of Africa, they were at that moment the
they are by any means applicable to it. I consider the murderers of some 50,000 or 60,000. So far from the
condition of the country to be owing, to a great extent, cause of humanity having in any way been served by
to the spirit which, if railways had not been the object, their proceedings and so-called precautions on the coast
would probably have taken some other course of ex- of Africa, the slaves were now crowded in smaller yes.
penditure, and to the import of food to the amount of sell than ever before were used, and the horrors con-
not less than 30,000,0004 sterling; and it is owing to tinually perpetrated for the purpose of avoiding detec-
this and other c rcunsstances that we have had a great tion exceeded anything that had ever been known even in
revulsion of trade, and that great distress has fallen on the worst days of the slave trade. That trade had
the commercial and manufacturing world. But Ido not become a mere matter of smuggling—man smuggling—
for an instant give credit to the statement that we are and, while he agreed heartily with those who said that
in a position of shame, bankruptcy, or disgrace, or that it ought to be put down, no matter at what cost, he
we shall not rise again.—(gear, hear.) I do not protested agaiust the absurd course they were at this
believe that the intelligence and energy of British moment taking to attain that philanthropic end. Let
merchants and manufacturers, with the advantage of a those measures be at once adopted which would make
change of duties, will not again enable them to enter into free labour cheaper than slave labour and their purpose
competition with any nation of the world.—(Cheers.) I was accomplished.—(Hear.) lie meat entirely °greed
do not find, although the last two moths have been with the Noble Lord at the head of the Government in
months of calamity, that this country spin that state of thinking that this was one of those ordinary and occa-
decline and ruin which the Noble Lord, with a good deal sional calamities which, be their legislation what it
anda fa I li ir nr.glB6;-.,7 it'
of exultation apparently, speaks about. I find that in might, would be perpetually checking the ;progress of a
the nine months ending on the 10th of October, 1845, the country situated as was England. The point was to as
declared value of British and Irish exports was certain in this instance what was the real as well as the
41,732,000/. ; in the same. nine months of 1846, proximate cause of the disaster. He hated all restric-
-4t
1100,048h,0t0h0e
there
is3i9s,9n7ot ,souocol/1.
a;
faslohntghtst, al- dons on banks; ho was for free trade in that as in every
off as other direction—(Hear, hear.) He had stated, at the
should inspire a man with despondency about our future time when the Act of 1544 was under discussion, that it
proepeuts. It is a severe, but at the same time, a tem- was bad in principle, because it pretended to provide a
porary calamity. I find, also, that the exports from standard, and did, in effect, make the bank
of issue a
Liverpool of British. manufactured goods, to the United separate establishment, and he had then
prophesied,
States, were, fur the three- quarters ending on the what had since proved true, that it would utterly fail in
10th of October, 1846, 4,03.0,003/. ; and for the same obviating such a season of distress' as this at certain in-
inperiod in 1817, 6,291,0171. ; making a difference tervals. It seemed to him the most inexcusable incon
favour of the exports of manufactured goods sistency to grant to every man in the kingdom power to
during the present,. year of 2,261,014/. That shows pursue any particular trade or trades without restraint
that, according 'fas the wholesome operations of trade and then, at the same negotiations to liiuinously those
and exchange, the food which we have brought exchanges by which only any could be can
to this country in greater quantities than usual tied on. Ho was not of opinion, nevertheless, that the
has been the cause of greater exports of our manu. recent measure of the Government was a wise one. It
factures.—(Hear, hear.) It is to that export of manu had practically had little effect beyond removing an on_
factures—to the return of the gold which we have sent founded degree of distrust and alarm; it had not added
abroad—to the state of the exchanges, and to several one shilling to the capital of the country and no man in
other circumstances of favourable augury, that I look, reality found himself one whit the richer in conic-
not for the immediate restoration of prosperity, but for quence. Ho therefore regretted that, great as the *tiler-
the gradual restoration of a better state of things, and gency was, the Government had had recourse to such an
from that to our wonted and former prosperity.— invasion, not to say infringement of the law; the prece•
(Cheers.) The Noble Lord fies spoken of the esti- dent was bad, and if often followed would leave them
mat, s, and says that her Majeety has promised that without any security at all for the stability of systems
they shall be framed in accordance with the strictest which bad been deliberately approved of by tho nation,—
rules of economy. The words -of the Queen's Speech, (Hear, hear.) Though not approving of this part of
however, are that "they will be* framed with a careful the policy of her Majesty's Ministers, he would not op.
regard to the exigencies' of the public service."—(Hear, pose the Address. It was with the greatest satisfaction
hear, and a laugh.) I can assure the Noble Lord, and he had listened to the explanation of the Noble Lord
I must assure the House, that if the revenue in some that he was opposed to asking from Parliament any ex-
of its principal branches should be in a declining state, traordinary powers for the enforcement of the law upon
and there should be anything wanting which we the population of various districts in Ireland. He (Mr.
might think essential for the defence of the country, or Hume) had, throughout, resisted every attempt to over
for any other purpose, we shall not be deterred by any awe a people, and to maintain that profitless system of
fear of not meeting with the approval of the House coercion in which statesmen once found their only re-
from asking for such supplies as may be necessary. source. Ho cordially concurred in all the observations
And I say, perhaps unnecessarily, that we shall not be made on this subject the preceding evening by the lion.
deterred by any fear of the disapprobation of this Member for Northamptonshire (Mr. Stafford). Cer-
Howe, because I believe it is the character of this House tainly that House was called upon to grant to the Go-
to give such supplies for the public service as to enable vernment every assistance in putting down the crimes
these realms to be furnished with all proper means of which disgraced some parts of Ireland—(hear, hear)--
(Weise°, and the State to be maintained as it has been and it would be their duty also, in passing
hitherto maintained.—(Hear.) With these views, there- measures of that nature, to take into consider-
fore, I differ much from the Noble Lord. I agree with ation the means which were wanting to ensure
him only in the facts which relate to the present state of the fature and permanent prosperity of that country.—
difficulty and embarrassment. That there never was so (Hear, hear.) In the Speech addressed to Parliament
gloomy a Speech Ido not agree, and lam sure there last session by her Majesty she directed attention to
have been many periods in the history of this country the " permanent condition of Ireland ;" in the Speech
much more gloomy—(hear, hear)—but I have always of this session not one word was said upon that topic ;
found, and I have always read, in times when I took no and this omission would lead to the belief that nothing
part in public life, that by the energy and spirit of this was intended to be done for the permanent establish-
country those periods of difficulty have been surmounted. went of order and the effectual creation of wealth in
I believe that this period of difficulty will bo surmounted; the sister kingdom. An Hon. Gentleman had alluded to
I will not say by the wisdom of the measures of the the state of the church in Ireland. Thirty years ago he
Government, but by the energy and noble character of (Mr. Hume) had spoken of the abolition of the Este-
the nation; but so far as going along with it, approving blishment in Ireland as the only remedy for the discon-
of its efforts, and not desponding of its fortunes, I will tent of the majority of the people ; and if so late as
say that the Government will not prove itself unworthy 1824 that step had been taken, if the privileges con-
ceded to Scotland and England were extended to Ire-
of the nation.—(Hear, hear.)
Mr. G. R. ROBINSON said his experience told him land, and if the Roman Catholics, as the inejority,
that in every fresh difficulty and crisis of this sort the had been relieved from the predominance of thereligion of
country did not recover its elasticity and return to the the minority, there would now have been no cry for the
same advantageoue and prosperous condition it was in repeal of the union. The Protestant Members of Balla-
before, as the Noble Lord seemed to imagine. But how mont were the most strenuous in their opposition to such
was it that, after a period of 32 years of uninterrupted a course; they-said, "We who have property in Ireland
peace, they found themselves in a condition which, know best, let us alone ;
we are the proper judges of
without any despondency, was, in his opinion, infinitely what is wanted." They had been left alone, and what
more discouraging than any other he recollected ? was the result? Why that that property had been swept
(Hear, hear.) Looking to the advantages we possessed, away or rendered unproductive, which, had the people
it we used them rightly, and to the enterprise of our been contented, happy, and prosperous, would have in-
merchants, he was not ore to take a desponding view of creased tenfold in ealue.—(llea hear.) This, then, was
the future ; but he would tell the Government if they the time to get rid of the all•absorbing evil of Irel
and.
relied too much on the energy of the people, and that Let the Church Establishment be at once got rid of, energy was not assisted and supported by the Govern- and let the people be placed on the same footing and mm nt, the country would continue to retrograde, as it equality as the people of
had done for several years past. With respect to the great reluctance that he would be induced to give his
navigation .laws, he had looked with much attention to consent to a Coercion Bill, and the only reason why be
England. It would be with
the precise words in her Majesty's Speech on the would give up his aversion to such a course was the con-
subject, and he did not object to them, He did not fidence he placed in the Earl of Clarendon. The conduct
object to inquiry into those laws, with a view to consider of that Nobleman in Ireland had been admirable, and he
whether any or what relaxation or modification was assuredly as fit to be entrusted with extraordinary
might be made in them applicable to the existing state powers as any Viceroy he (Mr. Hume) had seen in his
of things and the maintenance of the maritime interests time. It was a matter of regret that the Noble Lord in
of this country and its dependencies. He would not the course of his speech had not given the House some
he tempted, at such a time as that, to go into any account of the result of our interference with Por
discussion, but he would implore the House not to con. tugs} and of eur proceedings in Spain.—(Hear, hear.)
sider the present state of things as one to be lightly Perhaps the Noble Lord at the head of the Foreign-
passed over, lie was glad to find that the Government office was sorry that he had not left his neighbours to
intended to appoint a Committee of inquiry, and that the fight out their own quarrels ; and if he would look to
inquiry was to be general; for nothing but a searching the history of the last nine or ten years, he would find
and faithful inquiry into the complicated difficulties by that in every case in which we had intermeddled with
which the country was surrounded would, in his opi- the internal concerns of neighbouring countries to the
nion, afford the slightest chance of relief from its em- neglect of our own,
whatever might be the momentary
barrassment. If such an inquiry was made, and the éclat attending our generosity, permanent and essential
Government was sincere, and not imposed on by those injury had been done both to the people interested and
notions which the Noble Lord (Lord J. Russell) must to ourselves.—(Cheers.) And then it was well to re. have imbibed from persons less informed than himself, member that we could not afford such interference. The
and by those fanciful theories with which the free- fleet which we were now maintaining in the Tagas for
traders had for many years deluded the country, ho be- the support of the rotten Government of Portugal—
lieved that the state of things would recover, and pros- (Hear, hear)—cost us at least 1,000,000/ a-year ; and
perity would he restored. lie had not yet seen the the expenses of our navy, which was principally in
Hon. Member for Stockport in the House, but he should requisition by other powers, were at this moment most
like to ask him whether the predictions ho had made as to unreasonably high. In conclusion, he begged to say
the benefits the manufacturers were likely to derive from that with these reservations he would agree to the
free trade had been fulfilled. The manufacturers might Address, and to the report; and he trusted in a short
suffer the last, but they would not suffer the least, time to see, by the co-operation of the Government
and he would tell them, that if they were so selfish as with the industrious people of this country, our trade
to call for the withdrawal of protection first from again flourishing, and our prosperity as well founded
agriculture, then from the West India Colonies, in the and undoubted as it had been three years ago.
cultivation of sugar, and afterwards from the shipping Mr. G. BANKES regretted that the Hon. Member for
interest, the mischief that would fall upon those several Montrose had not mentioned some of those nations which
interests would afterwards fall upon themselves. As a he declared were so anxious to follow our example, and
test of our commercial policy, he looked to the condition to reciprocate with us the blessings of free trade. The
of the labouring classes, and in his opinion no class had Republic of the Equator might probably be induced to
a deeper interest in opposing the principles of free trade imitate us; but where was the second?—(Hear, hear.)
than the labouring, population of the country. Tho Right Hon. Gentleman the Member for Tamworth,
Mr. HUME was surprised that any Hon. Member in introducing his measures, had promised us the alliance
with the information of his lion. Friend could stand up and assistance of Naples and Prussia, and that was all.
in that House and question the allegation of the Noble Prussia, it was announced, was already shaken ; and
Lord (Lord J. Russell), that from every great commer- Naples, even then, had entered into a treaty of recipro-
cial crisis the country had gradually recovered, and re- city. The state of Naples, events bad proved, was not
gained its former state of prosperity. His Hon. Friend in a condition greatly to benefit us; and
if Prussia was
was chairman of a society in which the shipping interest really shaken it shook as the needle did, returning ever
was much concerned,_ and he would find, that whilst in to the pole—that polo being its own interest, and that
1825 the number of British ships was 19,000, and the interest consisting in a hostile tariff.—(hear, hear.) In
tonnage 2,000,000, the tonnage was now 3,000,000, and the absence, then, of any decided information as to those
the number of ships had increased in proportion. Again, nations which had been influenced by our policy, and
let his Hon- Friend look around him in every town, and unable to entertain any hopes beyond Naples, judging
especially in this metropolis, and see how great an ac- of free-trade principles by the result, though it might be
cession of houses and addition to every kind of property admitted the experiment was not yet fully tried, the
there had been, and then how could he say that things (the Protectionists) must be permitted to say that they
had not recovered ? His Hon. Friend had referred to the prophecies which were so liberally indulged in at the
price to be
navigation laws- If his Hoe- Friend would read the evi- time of the passing of free-trade measures had been
'the told they might expect all speculation in corn
woulddence tsaekeetnhalateftohroesethlaewCsowmemreittmee6riae tahaetrliasmtensetasslitoon he most signally falsified.—(Hear, hear.) They wore
shipping interest than anything else. Wherever pro- to be put an end to, uniformity in tection had been removed a beneficial effect had been secured, and an exportation of our manufactures in pro-
produced. So long as the silk trade was confined to portion to the quantity of food they imported. How had
Spitalfields, and competition was excluded, they heard these predictions been fulfilled? The first houses that
every two or three years of distress amongst the weavers, had failed, and that had opened this career of Calamity,
and of subscriptions for their relief, but when a change had been in the corn trade, and were those houses whose
took
e no time, in fact
history of
It would be the the trade, had there been such
place in the trade, and competitionl was admitted,
infate was so well deserved!—(Hear,) At • .
they heard no longer of that distress.
speculation
None had been more in corn as immediately after the consent of Parliament
frequently spoken of as a losing interest for two or three had been given to a trial of free trade, and so far there-
same with the shipping interest. Non
years together, and then it took a spurt. He must, fore their hopes had been grievously disappointed. At
therefore, express his regret that his Hon. Friend should no time had there been greater fluctuations in prices—
venture upon such opinions as he had expressed. The 455. in August, and 120.5. in May—and as to the third
Noble Lord (Lord J. Russell), in answer to a remark prophecy, how lamentably had it been demonstrated to
of the Noble Lord opposite, had brought forward a be false. The Right Hon. Baronet promised that if
statement of the exportation of cotton. Why, did the foreign corn was poured in on them, the increase in the
Noble Lord opposite know that in 1825, from ex- exportation of articles of their own manufacture should
cesiive speculation, when the Bank could do what be proportionate, and when it was urged that we would
it pleased, cotton was raised from 10d. a pound have to pay in gold, the reply was, "So much the
to 15d. and 18d. ; and what was the quantity better." %Vas it so much the better? Had our menu-
of cotton imported ? In 1824 it was 149,000,0001 b. ; factures gone forth?—(" They have.") Have they?—
in 1835, 222,000,0001 b. ; and in 1326, 177,000,0001 b. ; at what price?—(Laughter.) Surely that was some
end what took place ? His Honourable Friend element in the calculations of manufacturers-Tsureyt
behind him, who was lately President of the Chamber of was also of some consequence to th ifi fur
Commerce operativer
Commerce at Manchester, would recollect the fact that the same quantity of gold he had to exchange
the merchants, instead of exporting cotton at a loss of twice as much of the manalaoturfrl article as
2d. per lb., were obliged to export it at a loss of formerly.—(Cheers.) The prioe W4l to be considered;