The Sun.
London, England, 1856-09-25 00:00:00

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LOND iNs .THUESDAY EVENING, SEPTEMBER, 25, 1856.

A NNOITNCEMENT.—By the investment of a
small sum, even as low as 21.105., thousands of pounds may
bo obtained.—Apply by letter for particulars (which will be sent
post free) to Messrs. STRAIN and Co., No. 32, Villiers-St., Strand.

GREAT WESTERN RAILWAY of CANADA.
—This property is worth much more than its present price,
dividends of 8 per cent. having been paid for the last two years. The
traffic is beyond the most sanguine calculations, and is increasing
week by week (see the last returns). The management is with gen-
tlemt n of the highest character in London, who have wisely decided
to have nor ranches to swallow up the increasing revenue. Thus it
is expected this property will certainly yield 10 per cent.
Liverpool, Sept. 20, 1856. AN ORIGINAL SHAREHOLDER.

APPETITE AND DIGESTION IMPROVED.
f EA and PERRINS' WORCESTERSHIRE
ILI SAUCE imparts the most exquisite relish to Steaks, Chops.
and all Roast Meat Gravies, Fish, Game, Soup, Curries, and Salad,
arid by its tonic arid invigorating properties enables the stomach to
.erfeCtly digest the food.
The daily useof this aromatic and delicious Sauce is the bust safe.,
Sward to health.
Sold by the prrietors, Lea and Perrins, 19, Fenchurch-strcet,
London, and FIR, Broad-street, Worcester; also by Messrs. Much*
end Sons, Messrs. Crosse and Blackwell, and other oilmen and flier-
:limits, London ; and generally by the principal dealers in sauce.
N.B.—To guard against imttatiosis, see that the names of "LEA
and PERRINS" are upon the label and patent cap of the bottle.

C OMMERCIAL BANK of LONDON,
Lott:bury, and 6, Henrietta-street. Covent-garden.
Subscribed Capital, 1,500,0001.
Paid-up Capital, 300,0001,
Guarantee Fund, 71,0001.
DIRECTORS.
MARK BUNTER, Esq., Chairman.
JOHN SAVAGE, Esq., Deputy-Chairman.
Charles Butler, Esq. William Jackson, Esq., M.P.
Edwa.d Cayley, Edward Oxenford, Esq.
Esq , M.P. Sir Joseph Paxton, M.P.
jchn Alfred Chowne, Esq. Robert Stacey Price, Esq.
George Clive, Esq. Joseph Thompson, Esq.
William Cooper, Esq. Joseph Underwood, Esq.
Charles Hill, Esq. Thomas Winkworth, Esq.
Jonathan Hopkinson, Esq.
Accounts of parties received and kept on the plan generally adopted
by London Bankers.
ParLiea baviug cur*but accounts "with - this 'Eterik have- the advan-
tage of transferring any surplus balance to a deposit account bearing
interest ; and sums of money are received on deposit f om parties not
keeping current accounts. The rate of interest allowed is 1 per cent,
under the minimum rate of discount of +he Bank of England, the
deposit being subject to 10 days' notice of withdrawal.
The agency of country and foreign banks undertaken on such
terms as may be agreed upon. Purchases and sales of British and
Foregn Securities, &c., effected, dividends received, and every
description of banking business transacted.
Letters of Credit are granted on the principal cities and towns in
Europe and elsewhere.

A. R. CUTBILL, Manager.

FLUCTUATIONS OF JOINT-STOCK
BANKS.

'ter recent occurrences any great fluctuations
n the prices of the shares of joint-stock banks ex-
cite anxious attention. During the fortnight pre-
ceding the stoppage of the Royal British Bank the
shares of that concern declined day by day until
from 501. they had descended to 201. Subsequently
the London and Paris Bank, whose shares with
301. paid were at 81. discount, have found it expe-
dient to abandon their project, and to prevent by
returning the subscriptions received a continuance
of -the apparent loss which their shareholders were
thus far sustaining nrerely from the effects of pre-
judice. By this timely act of prudence each holder
of a share, instead of having to reckon at market
price a loss of 81., will almost immediately get back
the whole be has paid, less a deduction, perhaps,
of B. or 2/. for expenses. In the case of all bank-
ing institutions the current prices of the shares
form the most important point to which the public
should be encouraged to direct their attention.
It constitutes, in fact, the only general admoni-
tion that can be furnished, since such is the sen-
sitiveness of credit that no persons can venture
to publish even a hint to induce caution without
incurring the danger of ruining an establishment
that may possibly have been perfectly sound, or
of having precipitated a calamity that might
otherwise, by private efforts, have been averted.
Let the fluctuations in the daily list therefore be
always a subject of open discussion. In every
honest concern the directors and managers will
recognise its value equally with the shareholders,
since it will enable them to explain accidents or
to correct misapprehensions. Assuming this prin-
ciple to be 'conceded, attention should be called
to the position of two banks lately started under
the most favourable auspices —namely, the
Ottoman Bank and the Bank of Egypt. They
both possess charters of limited liability, their
boards of direction are unexceptionable, comprising
persons of great wealth, reputation, and experience,
and they have obtained not merely all the counte-
nance that could legitimately be afforded them by
their own Government, but also the requisite sanc-
tions from the authorities of the empire in which
they are to be carried on. The capital of the'
Ottoman Bank is 500,0001., in 201. shares, on which
101. has been paid, and which at their first,intro-
duction commanded a premium of between 21. and
31. The capital of the Bank of Egypt is 250,0001.,
in 251. shares, with 121. 103. paid, which at one
time attained a premium of about 41. In the official
list the former are now quoted as saleable only at
21 discount, and the latter at 3} discount. Neither
of them have been in operation more than three or
four months, but these prices show a depreciation
as if in each case about one-fourth of the paid-up
capital had been already lost, while, as compared
with the quotations current shortly after the issue
of the shares, the fall is equal to more than 40 per
cent. The question under such circumstances is,
should not some explanation be either sought or
volunteered ? Supposing anything to be known
by private individuals to warrant this distrust, the
shareholders should devise means to extract the
information for their common protection. If in
four months losses or discouragements have been
sustained to justify the existing quotations, the
sooner each concern is wound up the better.
At present nothing is publicly known to the
disadvantage of either. Active intrigues and
the circulation of false reports by the money-
dealers at Constantinople and Alexandria, whose
profits were likely to be checked by the intro-
duction of any regular system of public banking,
were, of course, to be encountered, but these were
anticipated from the commencement, and can
scarcely, therefore, have exercised any influence.
Neither can the fact that further calls of capital
are being made suffice to throw light upon the
matter, since there is nothing in the character of
the proprietary, in the amount required, or in the
state of the money-market, to create the idea that
these could cause inconvenience ; while, at the
same time, it is to be remembered that a bank in
sound condition is not supposed to make calls for
any other reason than an increasing ability to em-
ploy money with greater safety and profit than the
shareholders could hope for in other ways. The
secret of the decline, consequently, still remains to
be revealed. If, instead of being called together
only, annually, the proprietors in such undertakings
were•to meet, as such should be the case, at least
every quarter, there would be no necessity for sug-
gesting intermediate statements ; but, inasmuch as
no prudent person would be content in any ordi-
nary .business to part with his capital on condition
that bo should inquire about it only once a-year,
there can be little question that in the present case
something of the kind is necessary. It is due, in-
deed, to the general public, no less than to the
shareholders, since projects for the investment of
capital in Turkey and Egypt are now numerous,
and it is impossible to conceive that, if the expe-
rience of legitimate banking has been disastrous to
the extent to be inferred from the present indica-
tions in the London share-market, there are not
radical peculiarities both in the Government and
people which should cause all financial enterprises
in these countries to be regarded with the greatest
hesitation.—Times City Article.

THE ALDERMANIC GOWN OF COLEMAN-STREET WARD
—Yesterday a meeting of the inhabitants of this ward
was held at the wardroom, London-wall, for the purpose
of agreeing to a requisition to Mr. Deputy Hale to ac-
cept the office of alderman of the ward, rendered vacant
by the death of Alderman Hunter. Mr. J. B. Heath,
a past director of the Bank of England, was unani-
mouPly called to the chair. Mr. J. H. Palmer moved
the following resolution :—"That the distinguished
position of alderman of the ward having become vacant
by the decease of William Hunter, Esq., a requisition
be addrossed by the inhabitants to Warren Storms
Hale, Esq., the deputy of the ward, soliciting him to
stand forward as the future alderman ; and that the same
be presented to Mr. Deputy Hale, with the anxious
hope of this meeting that he will allow himself to be put
in nomination." The resolution was carried unani-
mously amid acclamations. It was also resolved that
the gentlemen present should constitute a committee to
carry out the election of Mr. Deputy Hale. A unani-
mous vote of thanks was passed to Mr. Heath for his
courtesy in taking the chair, and the meeting separated.
THE NEW Bisnors.—As we have had much pleasure in
awarding praise to Lord Palmerston fel. the last 8 or 4
appointments made by him to high offices in the Church,
it is with grief and disappointment that we look forward
to the next announcement. We fear, from certain ru-
mours which have reached us, that a venerable noble-
man, the Nestor of the Cabinet, has latterly exerted his
influence, and that the expected appointment to the see
of Ripon will be that of a gentleman who,-however re-
spectable in other capacities, cannot ba described as pos-
sessing any of those qualifications which are naturally
expected in one raised to such an office. We will not
indicate the individual, because, as iu the case of Mr.
Trench, rumour may have gone beyond the fact. Should,
however, the report which wo have heard prove correct,
the disappointment of nearly all sections of the Church
will be great ; and
.the nomination will deprive the
Premier of much of the popularity which naturally ac
trued from his selection of such men as Dr. Baring and
' Dr. Tait,—Morni7l,9 Herald.

TEE CUSTOMS CONGI?ESS.

(From the Daily News.)

BRUSSELS, SEPT. 23.
The President of the Belgian Fro Trade Asso-
ciation entertained the members of the Congress at
a soirée, at his residence, Rue do l'Ecuyer, last
evening, when a numerous party attended. Tne
affair was one of a purely complimentary nature.
The members, who have free entree to the Museum
Pdintines, the Botanical Gardens, the Armoury,
and other public places, have eagerly availed them-
selves of their privilege, and certainly their heavy
labours in preparing papers to be read at the Con-
gress, or in puzzling over appalling columns of
figures stated in hectolitres, kilogrammes, and
other strange measures of " weight, length, capa-
city, or value," entitle them to unbend a little in
the'r rare moments of leisure between the general
seances, sectional meetings, and other committee
work. Until to-day, however, the weather has been
very unfavourable for out-door recreation ; and
the earlier comers, who flattered themselves that
they would have ample opportunity to inspect the
" lions" of the place before settling themselves
down to earnest business, had begun to ask rue-
fully whether it rained always in Brussels. Little
consolation is obtained from the native Job's com-
forters, who meet all querulous remarks with the
matter-of-fact rejoinder of the citizen, " Oui,
messieurs, la Belgique, c'est un pays ties humide I"
But an auspicious change has at length taken
place, which is particularly fortunate, as this
was the opening day of the national' fifes to
celebrate the anniversary of the aebievement
of Belgian independence. The citizens re-
gard these ceremonies with great interest, andeven
with enthusiasm ; yet their abandon in the midst of
the general rejoicings does not much prejudice their
levotion to the " main chance." The hotels and
the shopkeepers are reaping a rich harvest from the
great influx of strangers drawn from far and near
to attend the various conferences and exhibitions
of which Brussels has lately been the scene, as well
as to witness the national festivities, which are, of
course, conducted on thegrandest scale in the capi-
tal. One peculiar trait in the Bruxellian character
strikes most of the visitors from other countries—
namely, their sheer incapacity to comprehend the
value of foreign money, which they are perversely
prone to depreciate. The fetes begin to-day, and
will extend to the 26th. The ceremonies for the
first day comprised solemn funeral services in the
morning at the churches of St. Michael (the patron
saint of Dame's) and St. Gudule, in honour of the
citizens who fell in the cause of their country during
the revoletion ; a distribution of medals at the
Temple des Augustins at noon, in reward for acts
of courage and devotion ; and in the evening a
grand military retraite round the park, in which
the bands, trimpeters, and drummers of the army
and the civic guard took very active, if not very
prominent, parts.
All th© pubic buildings and many of the private
houses were gaily decorated with flags and other
symbols of rejoicing ; and throughout the day the
places and stree s were crowded with sight-seers in
their best holiday attire. The tariff of the enter-
prising fraternity who hawk the official programme
of the fetes undergoes great fluctuations ; yester-
day the price was ten centimes per copy, to-day it
has fallen to five centimes for a Belgian purchaser
and ten centimes for an English one.
The several sections met in the committee-rooms
adjoining the principal place of meeting this morn-
ing, when reports, statistical tables, andother docu-
ments poured in likeaflood upon the vice-presidents.
The committees were engaged in classifying and ex-
amining these papers until the hour arrived for the
aggregate meeting.
The Congress re-assembled at 1 o'clock to day at
the Hotel de Ville ; M. de Brouckere again pre-
siding. Among the new arrivals were Mr. Schole-
field, M.P., and delegate from the Birmingham.
Chamber of Commerce, Who presented to the Con-
gress a tabulated statement exhibiting the approxi-
mate tariffs of various European and American na-
tions. The minutes of the previous sitting having
been read and confirmed, letters were read from
absent adherents, and among others from M. Dela-
mediae' members of the Chamber of Commerce of
Lyons, Montpellier, • Bordeaux, and Manchester
(Mr. Boothman), M. Chevalier, Conagilior of State
(Herault), the Lord Mayor of London, and le Due
d'Harcourt. Groups of elegantly-dressed ladies
occupied a series of small galleries ranged like
opera boxes along one side of the hall, and ap-
peared to manifest considerable interest in the pro-
ceedings. The series of questions previously drawn
up to guide the deliberations of the Congress has
been subjected to revision, and the following order
of the day has been formulated, the better to de-
fine the limits within which the speakers are to
confine themselves :

1. Explanation of the reforms effected in different
countries during the last 10 years; progress of public
opinion ; results attained.

2. Examination of the obstacles which obstruct the
extension of international commercial relations in each
country. Evils consequent upon those obstacles.
3. Examination of the means proposed, or to be pro
posed, for removing or mitigating the obstacles to Cus-
toms reform, and also of tile best mode of achieving such
reform. Resolutions submitted to the Congress.
4. Criticism of the objections (especially those that are
new, if there be any such) offered to Customs reform,
and ostensibly derived from the principles of justice and
of political economy, or from a regard for the respective
interests of nations, of the working classes, of the pro-
tected branches of industry, -and of the public revenue.
The first speaker called upon was M. SCIALOJI,
delegate from Sardinia, who was received with ap-
plause. He said that the people of Piedmont had
been enabled to devote themselves to commercial
pursuits with an energy which their free institu-
tions alone could impart. Describing the bene-
ficial results that had sprung from their commer-
cial treaties with Belgium and other countries, he
quoted official figures to prove that the reduction
of Customs' imposts and differential duties within
the last few years had alike benefited native in-
dustry and increased the public revenue. Tne re-
missions extended to many articles of commerce
amounted to from 70 to 80 per cent. ; and, not-
withstanding the total abolition of the taxl.tion on
corn and cereals iu 1847 and 1848, the public
treasury fully retained its previous receipts. The
withdrawal of artificial protection from the paper
manufactures of Sardinia had proved most salutary.
These tariff reforms had greatly ameliorated the
condition of the working classes, as was evidenced
by the increased consumption of articles of sub-
sistence and wearing apparel, their improved dwel-
lings, and their advanced education. Subsidiary
reforms must, however, be combined with an itie
proved system of tariffs to give proper effect to
commercial and industrial freedom. Other abuses
required to be swept away ; the facilities offered to
commerce at various seaports must be increased ;
the diffusion of knowledge among the population
demanded the earnest care of every Government ;
and he was glad to say the honest and enlightened
Monarch who now reigned in Piedmont was de-
termined to persevere diligently in the promotion
of these important objects. His people had al-
ready tasted the sweets of liberty, and in concert
with their rulers they were bent on developing to
the utmost the industrial, moral, intellectual, and
political interests of the country. (Loud applause.)
M. le Comte ARRIVABENE (Tuscany) observed
that his country was the first to proclaim the free-
dom of commerce, and presented on behalf of the
Societe Geographile of Florence a paper detailing
the history of commercial legislation in Tuscany,
together with their views of the principles which
ought to regulate the intercourse cf natiow.
M. GARNIER (Paris) remarked that free trade
principles had scarcely begun to be understood in
France 10 years ago, their progress being totally
arrested by the revolution of 1848. The Provi-
sional Government, although professing Liberal
doctrines, shrank from proposing the admission,
free of duty, of the primary articles of subsistence.
ThaConstituent Assembly effected nothing in the
shape of Customs reform. When M. de Beuve
moved a measure of radical reform in the French
tariff the proposition was rejected, having been
resisted by M. Thiers, in an oration which was one
tissue of the grossest economical fallacies. , The
Ministry of 1852 brought forward several impor-
tant reforms, and cattle were admitted free from
imposts. any other articles were admitted at
nominal rates, to the great advantage of the hum-
bler classes. A project bad been submitted to the
Corps Legislatif for the removal of all prohibitory
duties ; and, without being too sanguine, it was
hoped that the body would be induced by the ex-
ample, influence, and experience of England to
make a move in the right direction. The advo-
cates of free trade were steadily increasine. in
France. The entire press regarded it favourably,
the manufacturing and commercial classes were
awakening to its advantages, and even the agricul-
tural interest, ever slow to recognise what really
tended to their benefit, were beginning to look
upon it with diminished distrust. The practical
adoption of such reforms were, however, obsti-
nately resisted by a mall, yet compact, fac-
tion, who clung with invincible tenacity to ab-g

surd and antiquated notions. The friends of
commercial 'reform in France were not, however,
appalled at the obstacles in their path, but were
resolved to wage their struggle until it was trium-
phant. (Cheers.)
M. WoLowsKt (Paris), amplifying the statement
of the last de; uty, said that, although France had
yot much to accomplish Lefori it could be said to
enjoy commercial freedom, it had, nevertheless,
made considerable progress in that direction, and
the principles of free trade had there a body of
illustrious champions, among whom wore MM
Bastiaf, L. rancher, Blanqui, de Perron, &c., who
by their eloquent and logical writings had demon-
strated that the only true bases of in'e.aational
commerce were harmony and mutual confidence—
not jealousy or antagonism.
M. Mormranr (Brussels) stated the advantages
that had been derived from the suspension for two
years of the imposts on coal in Belgium, and re•
commended their permanent removal. Strong in-
fluences, he said, were at work to prevent the
application of free trade to the home manufactures
of that country, many departments of which, such
as the woollen, cotton, and iron trades, were
highly "protected," to the serious detriment of
the consumer and the persons employed in their
production. The interest taken in Belgium in the
cause of reform might be judged of from the fact
that the manufacturers of Verviers--an important
seat of industry—had furnished a contingent of
200 adherents to the Congress. M. Molinari con-
chided by referring to the existing treaty of com-
merce between France and Belgium, regarding the
operation of which, he said, the most. woeful pre-
dictions were hazarded, because it embodied an in-
fusion—infinitesimal, lie thought—of free-trade
principles. These evil presages had been entirely
falsified by the event, and past experience would,
iu his opinion, ful'y justify the Government in ad-
vancing boldly in the same direction.
Dr. BAMBERG (Berlin) described the origin and
progress of the Zollve,rein and the working of the
treaties concluded between that combination and
the Baltic towns, Bremen, &c., arguing that analo-
gous commercial confederacies might be established
between other continental countries with advan-
tage to their commercial interests.
The CHAIRMAN then took the sense of the meet-
ing in favour of passing to the second branch of the
question submitted to the Congress. The decision
was unanimous for that course; and the other
speakers who had observations to offer on the first
section were requested to hand them in in writing
to the bureau.
M. PASCAL DUPRAT (Paris) next addressed the
Conference. He passed in rapid review the vari-
ous obstacles which impede the development of un-
restricted exchanges, dividing them under the
heads of physical obstacles arising from geogra-
phical position ; political obstacles, such as mutual
jealousies, fomented by Governments ; and moral
obstacles, engendered by ignorance, prejudice, and
sectional privileges. The first class of impediments
were being fast diminished by railways, steam com-
munication, and the electric telegraph ; the second
would disappear under the operation of inventions
which seemed destined ultimately to convert
Europe into one nation. The worst antagonists of
freedom of commerce were, of course, the factions
of vested interest, who might, however, be brought
to move forward in time, though doubtless only
under compulsion. The orator then proceeded at
great length, and in a very eloquent vein, to expa-
tiate on the fundamental principles of free trade,
treating them consecutively in their commercial,
social, political, and moral aspects.
M. VANDERBRUCK (Central Agricultural Society
of Belgium) dwelt upon the incubus which weighed
down agriculture in that country in the shape of
octroi duties, and recommended the abolition of
the system of city dues, commercial taxes, and
similar imposts on trade. A proposal of this cha-
racter had been adopted that morning in the second
section, and would be brought up at the subse-
quent sitting.

- M. MULLEEDORFF (Chamber of Commerce, Vi-
viers) followed in support of the same views, and
combated the foolish dread that free trade would
destroy homu manufactures by inundating the
countries adopting it with foreign products.
Mr. OLIVEIRA, M. P. (whose remarks were much
applauded), said he represented a very numerous
body in England, whose object it was to obtain a
reduction of the duty upon foreign wines. As he
desired to be very brief, he would hand in for pub-
lication a paper he had prepared, having reference
to the various interests involved in this important
subject. He argued that the high duty in England
upon wines was in direct opposition to the doc-
trines of free trade. It had the effect of keeping
down the revenue upon wines ; it produced among
the English people the habit of consuming ardent
spirits, which led to much demoralisation and
crime ; and it had the further injurious effect of
giving France, Spain, and Portugal, as wine-pro-
ducing countries, an argument for maintaining a
prohibitory tariff upon English manufactured ar-
ticles.

Mr. H. BOHN (publisher, London) next ex-
pounded his views to the Conference on the sub-
ject of an international book post, based •n prin-
ciples analogous to the system recently introduced
into England.
The Congress shortly afterwards adjourned.
The following letter from. Mr. Cobden was read
at the Congress yesterday : .

" Midburat, Sept. 17.
" Dear Sir,—l lament my inability to accept your invi-
tation to the Free-trade Congress at Brussels ; but be
assured that my most cordial sympathies accompany your
demonstration. Several English deputations will, I hope,
be present; but should the attendance from this side of
the Channel be less numerous tian was expected, do not,
I pray, attribute it to any indifference to the progress of
Free-trade principles, butratherto the confidence we feel
that our own successful example will, without any propa-
gandism on our part, induce other nations to enter upon
the same commercial policy. It must be admitted, more-
over, that the unanimity of sentiment in this country upon
the question you are about to discuss is not favourable to
the manifestation of thatactiveenthusiastn which requires
antagonism to draw it forth. Ten years' experience has
worked such a revolution in public opinion, that I doubt
if a sane man can be found einem"; us who would wish to
revive the economical regime of 1845 Indeed, if I were
asked to point out the most zealous freetra,ders of our d
I should be inclined to look for them in the ranks of
those who were formerly our stoutest opponents, for no-
where has the awakening stimulus of competition dif•
ftved such benefit as among the protected interests
themselves. It is no exaggeration to say that agriculture
has during the past ten years made greater strides in the
path of improvenient than in the previous half century,
and never did it stand so erect and lock with such confi
denco to the future as now, that ali legislative protection
being withdrawn, its prosperity depends on the unaided
resources of science, skill, and clpitat, Oar shipowners,
too, who for two centuries had been taught to believe
that the navigation laws of Cromwell were as necessary
to their existence as the compass or the rudder, have,
since the abrogation of that cede, carried improvements,
both moral and material, into our mercantile matine
with an energy and courage of which the nation may
feel justifiably proud.
" You are pleased to say that if our free trade policy
could be explained by me at your congress it might have
a beneficial effect. Pardon me for doubting whether a
few figures will not speak with an el 3quence to which I
()mid give no additional force. I will only trouble you
with a list of our exports for the last ten years, begin-
ning with 1846, when Sir Robert Peel's Government
abolished the corn laws, and dethroned the ancient pro-
tectionist superstitions :

1846
1847
1848
1849
1850
1851
1852
1853
1854
1855

1856, 7 months

"You will find that the above table exhibits a steady
yearly progress, interrupted only by the revolution of
1848 and the war of 1854-1855. But observe the up-
ward rebound of the present year of peace, in the first
seven months of which our exports have reached 64 mil-
lions sterling, being at the rate of 110 millions for the
whole year, or nearly double the amount of 1846. No
other instance of so large and rapid an increase of foreign
trade can be cited in the annals of the world. I antici-
pate that this year our exports will exceed those of
France, Austria. Russia, and Spain together, the four
largest States of Europe, containing au aggregate of
four times our population ; that they will amount to
double those of the United States, whose distinctive
party banners seem to bear every conceivable device
excepting those of commercial freedom. I have some-
times met with the objection in foreign countries
that the general extension of free-trade principles
would only give an undue advantage te) England. But
ought net this jealousy of England to be rather awa
keued by the gigantic preponderance of wealth and
power which the exclusive adoption of the free trade
policy is conferring on her
" I know that the philanthropists assembled at Brus-
sels, not content with this proof of our material pros
perity, will extend their investigations to the region of
moral statistics, and inquire into the progress of educa-
tion, crime, pauperism, &e. Let me stipulate beforehand
that free trade be not held responsible for the misuse ct
the wealth which it confers upon a matien. To confess
the truth, we have not made the best possible use of our,
prosperity. WO have spent nearly 100 millions in add-