The Sun.
London, England, 1848-06-27 00:00:00

laugh which accompanied the announcement of his in-
tended vote by the Hon. Member for Rochester. He
concurred in the sentiments uttered by him at the com-
mencement of his speech. The subject was surrounded
with difficulties, and it must be decided upon principles
consonant with the general interests of the community.
But what were the remedies proposed for the distress in
the West Indies by the Hon. Member? He was opposed
to the importation of creolea and to coolies, as well as
to large immigrations of liberated Africans. He also
disclaimed all wish for protection, and after so many dis-
claimers he was at a loss to discover the Hon. Member's
remedy. With respect to the slavery part of the ques-
tion, that certainly was a most important feature. The
abolition of the slave trade, and subsequently of slavery,
were the greatest achievements ever accomplished by the
humanity of a nation. He was sorry that the appren-
ticeship period of the liberated negroes had been
cut short, as that had been attended with baneful effects
on the happiness and prosperity of the co-
lonies. But with respect to the question before the
House, when his Right Hon. Friend the Member for Tam-
worth thought it wise to reduce the price of all primary
necessaries of life, he considered it only right that so
important an article of consumption as sugar should also
be included in that reduction; and in 1844 he saw that
the time had arrived when the duty on that article must
be lowered ; but it was necessary also to attend to the
state of the supply, for if that was deficient, the reduction
of duty would go to the seller, and not to the consumer.
The result of inquiries showed that the supply was so
limited as to render it indispensable to enlarge the area
of supply, and in consequence the then Government ad-
mitted, on easy terms of competition with West India
free-labour sugar, the free grown sugars of foreign
colonies. The question of slavery was not the only
difficulty that existed in making this - alteration
of the law, for it was urged that, under the
most favoured nation clauses of the reciprocity treaties
with foreign countries, slave-grown sugars could
be imported into England under the Act of 1845; and
the question was argued with consummate ability
by the Right Hon. Gentleman below him (Mr. Glad-
stone), but still it was a doubtful case. Under these
circumstances, it was that the present Government
sought to introduce the Act of 1846, which levelled the
distinctions between slave and free-labour sugars, a
measure to which he had given a reluctant support. The
House and the Legislature, in passing the Act of 1846,
had done so deliberately, upon full argument, and with
all the facts brought under review; and he must say,
therefore, that the Act of 1846 was to be considered as a
deliberate and final settlement, which gave ample warn-
ing to the West Indians and to foreign powers that their
policy was a settled one.—(Hear, hear.) What had
been the effect of that measure? It added greatly to the
revenue, and cheapened the price of an almost necessary
article to the consumer; and he was not satisfied that
it had increased the slave trade to any perceptible
degree. The intentions of the Legislature were there-
fore fully carried out by the consequences of the Act of
1846. He had heard different distinct suggestions
made on this subject. There was the statement of the
Right Hon. Gentleman the Member for Coventry (Mr.
Ellice), that what the West Indians wanted was a little
assistance to tide over their difficulties. Why that was
what he had been hearing on this subject since he had
the honour of a seat in that House.—(Hear.) Then the
petition of the West Indian body said, " That no le-
gislation which did not assure profitable cultivation
would be of avail." The Legislature to assure a profitable
cultivation ! How could the Legislature give any such
assurance?—(Hear, hear.) It was a request with which
it was impossible to comply. Then there was the pro-
position of his Hon. Friend the Member for Droit-
wich, which he thought would have contained something
more specific. He said, indeed, that a discriminating
duty of seven shillings would not be sufficient;
but he (Sir James Graham) wanted to know
how much would be sufficient ? The Committee over
which the Noble Lord had presided proposed a discri-
minating duty of ten shillings, without which the aban-
donment of a majority of the West Indian estates was in-
evitable. Sir C. Grey, in the dispatch of which they had
heard too much—(Hear, hear)—gave an opinion to the
same effect. But he thought that the answer of Earl
Grey to that dispatch contained the sound and true
doctrine on the subject. He said in that answer that a
high rate of wages, insufficient labour, and the want of a
steady command of it, which were the great difficulties
of the West Indian colonies, were in a great measure to
be attributed to the duties on sugar, which, by main-
taining an artificial high price of that article, had in-
duced the planters to compete with each other in the
sugar market, and had thereby created an artificial rate
of wages. It was by keeping both at their natural
level that he hoped to see the colonists able to produce
sugar with a profit. He (Sir James Graham) looked
upon that passage of the reply of the Noble Earl as
sound in principle, accurate in point of fact, and the
true answer to the recommendation of the Corn-
mittee.—(Hear.) The Honourable Gentleman the
Member for Leominster said that the maintenance of
the protection proposed by the Committee beyond two
years would be, in the highest degree, injurious to the
West Indies. The Mauritius afforded a remarkable
illustration of the soundness of the doctrine of Earl
Grey. An immigration of labour had taken place to
Mauritius which was almost incredible-65,000 coolies
having been introduced within the last six or seven
years. But, notwithstanding that, the rate of wages
rose from six dollars to ten dollars a month.—(Hear,
hear.) He considered that protection with regard to
the article of sugar was very dangerous, and
that it gave encouragement to a species of
gambling like that which took place with respect
to the cultivation of hops in this country, where the
profits were either great or the losses immense. His
Honourable Friend the Member for Droitwich said that
the average cost of production in the West Indies was
1/ 2s. 6d. per cwt., whilst the average cost of protec-
tion was only Gs. 101 d. per c w t., making a difference of
15s. 9d. Assuming that to be true, a duty of 10s. would
not enable the West Indian planters to cultivate with a
profit.—(Hear, hear.) He was decidedly opposed to a
pennant 10s. duty for six years. It was inexpedient to
grant it first of all to the colonies. That was his parti-
cular ground for opposing the amendment, but he would
also state the general ground on which he opposed it.
The Hon. Member for Buckinghamshire said the other
night that our recent commercial policy would lead to a
reaction, and that the time had arrived when it was
to take place. In the other House of Parliament also
Lord Stanley had proposed as expedient a prolonga-
tion of the time within which the corn-laws were to
expire, and the Right Hon. Gentleman the Member for
Stamford (Mr. 'ferries) had said that nothing really ef-
fectual for the relief of the West Indies could be accom-
plished except by a discriminating duty approaching
to a prohibitory one. He also saw in manifestoes from
the Protection Society signed by the Duke of Richmond
that cheapness was treated with derision. Taking all
these signs together, he believed that an attempt at re-
action was impending, and to such reaction he was de-
cidedly opposed.—(Cheers from the Free-traders.) In
passing, he would speak of the value of cheapness.
Lord G. BENTINCK—And the cheapness of wages.
—(Protectionist cheers.)
Sir J. GRAHAM would not shrink from that part of
the question.—(Hear, hear.) His experience of the year
1842 convinced him on that point.
Lord G. BENTINCK—You stated it both ways.
Sir J. GRAHANI—The Noble Lord's taunts fell
harmless on him.—(Hear, hear.) No taunts could
drive him now from power, to make room for others.
—(Hear, hear.) He was there ready and bound to
speak the truth—(Hear, hear)—and his experience
of the distress of the manufacturing districts con-
vinced him that the converse of the proposition—namely,
that lowness of price was accompanied by lowness of
wages, was true, and that low wages fell on the working
community when articles of first necessity were dear.
—(Hear, hear.) He:was satisfied, therefore, that they
must be cautious before they allowed taxation to enhance
the price of articles of the first necessity.—(Hear, hear.)
Cheapness of price could not be put down by the ana-
themas of the Duke of Richmond.—(Hear, hear.) What
was the practical bearing of the cheapness of sugar ? It
entered into the consumption of every family. It was
almost the only condiment to the tasteless rice, the
insipid gruel, the saur-krout of the poor man.—(Hear,
hear.) And when he could get nothing more nourish-
ing,:it rendered palateable his coffee and his tea.—
(Hear, hear.) Cheapness, therefore, in this matter was
everything. This was the first attempt at a reactionary
policy founded on a return to prohibitory duties, and
he was opposed to that reaction.—(ilear, hear.) He
believed in the present state of society in this country,
and with all that is taking place around them, that it was
impracticable—(Hear, hear)—and if practicable, he be-
lieved it to be most dangerous. He believed it was the
very reverse of conservative with regard to all their
institutions, and, if carried into effect, he trembled for
the consequences.—(Hear.) This proposition was the
first step to give effect to the prophecy of the Hon. Mem-
ber for Buckingham. He was nut prepared to take that
stop.—(Cheers.) He thought it unwise and impolitic,
and, holding that opinion deeply and sincerely, he could
not hesitate to give his vote against the amendment of his
Hon. Friend.—(Cheers.)
Mr. CALLAGHAN stated that it was his intention
to support the Government proposition in as far as
sugar was concerned; but he should reserve himself on
the subject of spirits until he heard what the Govern-
ment proposition really was.
On the motion of Sir R. INGLIS the debate was ad•
journed until Thursday next.
The House adjourned at Half-past Twelve o'clock.

RAILWAY SHARE MARKETS.
LIVERPOOL, JuNE 26.
STOCK EXCHANGE. -A good business has been done to-
day in stocks, and especially is London and North-Western,
which sold at 118; New, 1,4, and % p.—Birkenhead, Lan-
cashire, and Cheshire Junction, 311. Shares, 7V dis.—Ditto,
221. Shares, 514 dis.—Eastern Counties, New, 10/. Shares,
1,4; p.—Lancashire and Yorkshire, Fifths (late West Riding
Union), 41. ls. 3d. dis.—London and North-Western,96 118—
—Ditto, New Quarters, p.—Midland Stock, c.—
North Union (A), 201—South-Eastern and Dover, 23 c.—
Ditto, No. 3. Thirds, 10 dis.—York, Newcastle, and Berwick
(N. and B. Extension), No. 2, 7;4 p.
MANCHESTER, JUNE 26.
STOCK EXCHANGE.—The. sales are—Birkenhead, Lan-
cashire, and Cheshire Junction, 7% c. dis.—Lancashire and
Yorkshire (West Riding Union), 4 1-16 dis.—London and
North-Western, Quarters (C), 13'8 p.—Manchester, Sheffield,
and Lincolnshire, SW. Shares (Grimsby), 2N dis.—Ditto
(Sheffield and Lincolnshire), 10 dis.—North Staffordshire,
314 dis.—South-Eastern and Dover, No. 4, Thirds, 3 S-16 dis.
E BIRMINGHAM, JUNE 26.
STOCK
XCsnhrNewoEsb•—ur'y rhaenasallir
sales are—North Staffordshire,
61s. 3d. di5......

TIIE GREENLAND FISHERY.—A letter received by
Mr. John Bilton, of this port, on Friday last, from Ler-
wick, states that the Turk, Friends, and Traveller,
landed their Shetland men last week, and report as fol-
lows :—Anne, Hunter, 85 seals and two tons of oil ;
Sarah and Elizabeth, Willis,
140 seals ; Swallow, Low-
den, 3,200 seals and 32 tons of oils ; Eliza, Graham, 666
seals, 12 tons of oil ; St. George, of Loudon, Well*,
125.—Hu1l Packet.