The Sun.
London, England, 1845-02-05 00:00:00

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cent. In fact, the iron trade is in as satisfactoryd
an
prosperous a'fitate as any other. This great improve-
ment has gram mainly from the increase to the la or
comumption. caused 1-y the adoption coned ron for yeti: as
purposes, aed the great demand occasi by railroads.
With regard to the shipping interest, that also
was in a very depressed. coedition, but I am happY t°
say that there has been a .general improvement in
the last half year. Ships are more saleable anCCR
d at
better prices. The demand for them has been odes
by the inereneed •O:C
iinoanoo of various artielei,
of consumption, among °tint.; the importation 0
guano has increased the demand 'for shipping to a large
amount.—(A slight laugh.) The application of science!.
as tested by
experience, by increasing the fertilitya' 01
the soil, has not only effected that object, bat has ls°
vivified another most important branch of our corofert:
vial interests. lam not about to trouble the House witi!
any long array of figures, but I with respect 10
the cotton trade, that it was never inamore thriving stars
The rrofits of the manufacturers have increased, and
with them the wages of their workmen ; but, Sir, 1 ttni
aware that there are some of our manufactures
which have not found so large a nte:
as some branches of the spinning trade. fur
taking the two, and calculating them togetue '
I believe I am perfectly right when I state that, at no
period in the history of our spining and manufactarifitt
interests, has the balance applicable to profits
and wages been greater than during the P,„i,
year. The application of capital in new r°, '..",
and the improvement of old ones and roachilertle:
have also been much greater in the part year. With
satin'
gard. to the woollen trade, it is a source of no small this
fact ea that an improvement has taken pluee in tut
branch too, because it fully bears out the stately
le.
which has been made of the improvement woollen et(rJaPcie
A great, in fact the larger, portion of our
is supported by the home market, and, of
the increase of this market bespeaks an improyenietasy
the condition of the poor man. The flax trade, . o„,
state with confidence, has undergone a considerable nn,
provement; indeed, I may state that the increase nr,
been upwards of but it is le"
twenty per cent.; i f some
likely this -
increase is attributable to the remove.° eo
of the restrictions on this trade. Still, the difference
which has taken place in our flax manufacture ape the
favourably of the improvement of the condition '
couertst;
Ist to
people, notwithstanding the difficulty that may el„tien.
estimate the quantity applicable to home conslerd this
It may be asked, haveour foreign den3ands just'L rue
increase in our manufactures ? Novv, if been
through the articles of British produce which baYteot of .
exported this year, we shall find that the
exports has been larger than in LeY - clay
There has, however, been a falling off in two iteinvs,2
_oa,
and cotton twist. With regard to coals I belie 1011',
state that this has resulted not from theealliTif 1'
en to the
demand, but from the strike among:t wor r 0 0 are
forniaellri
mining districts, which no doubt Hon. Gent.lewbee son
aware of. With regard to cotton-twist. it Fill 00,000
that the item shows a falling off of s"e' in the
pounds. I believe, however, that this different! rt of
exports arises, not from any indisposition
.011b",.e ritish
our foreign neighbours to take this article ?In
__oich
°period.
produce, but to the great amount of consumpttor fauo.
has taken place in the home market. tore
facturers in this article have been, I may
have bee°
than fully employed, nevertheless they _ arnet.
unable to supply the home as well as the foreign "• f
!...„nro • ed
But we must look beyond this to ascertain the tizunrsor
All ou le
condition of the people; we must look to the.re flees-
tion of those articles which are regarded n 5 bnst of the
saries of life. The customs are, perhaps.
power of consumption than the excise ; h,et,. flower of
may be considered as shoeing the a better test the
people 0 libere bas
expenditure ; and of malt, spirits, ape
soap, of tee'
been an increase. Looking at the articles was tslt;
sugar, and tobacco, the gradual increase nil! toproveu
ing place afforded a satisfactory prof of ne
tetures °f th:
condition of the people. Although Chef returns os yet, °-
savings' banks are liable to some except ~_croso
the 11'
, re
connected with other proofs of prosperitY*
in deposits, and the diminution in withar:Vtf'lls'etiolryf
very pleasing circumstances, Another returns .°
proof is the great increase in the „It iv
all the -h ing either P rota
railways—thus soa or a g It
crease in traffic for business purposes
power of expenditure for the purposes o_ he t ti.
may, indeed, be doubted Witherwh this 5
pro.,r.,:ry ge.i:
permanent character. I a last )
troop. 0111°`1.
doubts were entertained,. though I so I 3 the iainrefoe,
what data they were founded, whetherd
i contitit and
meat which then manifested itself testate
of trs"-'lso
any length of time. But looking at th looldnig 6„a
the moderate price of raw materials,
'' and
giutteu,
.iit
'f
retinatio°, _
at the fact, that no foreign mareets er et:other,
i':..'l.,
scarcely any overstocked, and con filer' it, e .ne;
there is an abundance of capital, : of 11°6tbst
manufacture is the great napw''rehef- eon'
-rity, I cannot see any reason to
oolaPtiou i„„tryn
there is any exaggerated spirit of sPc", this coan„o.
nexion with the trade and manufactures of this
tbeir apple.
The new banking regulations, althouogotro can_otot.
cability to the circumstances oft,..
be tested by experience—Wear, hear) an 3of
lations have proved a salutary chect
that
spiriihoo,
spirit of speculation, I believe tha '
oculess If the
speculation has been absorbed loY„ r--.ensible ~,nefits
importancesof such undertakings.
undertakings. Although I am
andfol seas the wt; la•
which they confer by • 'flg frni 4e hene the
giving ,wi.,_ ~
bourers of various kinds, end otheilbia to s'idt of
the country, nloYni Ong
I think it'l is irorstso the ice!lone oi.
the dangers by
exaggerated calculations made as baa this ol aeed.---
those undertakings, without feeling to is 113 e." whiCb,
(Hear, hear ) This is a danger ;
there
tirls no
under our manufacturing system, .r' there 0f the
remedywhich the countr.T.iso, to 000.
ably subject ; but for that '
manufacturers evil
the oresrninsds E.
except a tshaitritofotpfroordeusciginhgt,
and inn be t prey
th 1.e11071 its
the operatives a saving dispasition. a],
ate Irose('
verity of this country has undoubteAStediy, even this.
finances—(Hear, ar)
ginateuttestion w 01) 1'
it has, to e- , „a see toontio,.
its resources ; butte t is inipossible neto'ilithe herther
' change of circumstances reallyori
of the income-tax. I will not discuss th_e g__. Gotter,.. do
it be or be not (as we understood the bl, rola statoebject
convenient or proper kind
fisheda% ; ' great object
Sir, 842 0 .
fact that it has accomp the . u I "` Its
for which it was established.,
rile is
1 ditere.
the excess of expenditure over in 130ver e%Pelitivolc.B
2,149,0001., the surplus of revenue January„the A this
in 1845, was, I believe, 3,356,000 i, I'The
iequired from the Bank of Bngland in din 1 00
year is only one aliir 1 of what was require
.. _o , Goverto eV
value and price of securities resting .1) not tt.oote
credit have corresponded to the iinPruve the legiPede"
hibited ; and this improvement is itself
-ci the s°ntituest.
triumph of the wisest policy In Gofer-Ail
economy on the part of the te op. ,-
tb .11
After some further observations from t e ef'
ber, the address was put from the Chauo_toded at
Sir, I trust that the success which 119sti7i, coubinbotriarittift
forts to produce a financial surplus in - tri 5 i; '''
operate as an example to other coon disclor.
under difficulties of the same charactero,_ nu'jcweveo4e;tl
prove to them that, however onerous °r ow he, nvcitisls_,
pular for a time such a line of conduct fiV_. oil '_ers,)
tor , (Iv _,..
in the long run, for nations as well ss_oco,--Lthe r",
is not only the best but the securest Psei..ifees of joie':
However productive may be the other (:,."90i r%, , ;
venue, it must be evident, that if there_lf defieielrii ere
in this tax there will arise a danger °I that
o'f the
confess that it appears £0 re' sloe eibetil it
are to have any relief in the
osidering
stoat, .0
reduction of other taxation, without con sour ni 40,,
any further addition may be necessary t:outirce' °f ; gre
0:
we cons' iadirect hoe ~5
would not be wise to give up such a•deo tbstoetietio
revenue, particularly when
portion of our revenue depends srnvbieh we„ sern
which is affbcted by causes eve: ;ince of "redios;r
control. In my opinion the maint n art the i coosto
revenue is absolutely necessary to suP,Poo, this, osono,
reputation of the country, and, believ.iloarottse to 0010 f
it would be exceedingly unwise in thiNs .toitivid be antel.
such a certain source of revenue. It voi, on onedi'ersitl;
in the House and the country to rely. of %no
end
prosperity, without referring optst
to?T „jot, ,ris col
as it would be in an indivac o'n of _ t ate
year of prosperity as the founa i'vwerse yesZii T 1
penditure, without reference to aufdong witeoessfe.
I trust the House will g° b oluti • the Pr
in considering that it is e-ge ioac Indoe°l/.,..
to maintain an efficient surplus. j see late the POl
Filen-tire for t13.,', '''° Or
sent state of affairs on which to congereon aritn_..id ht6+4
try. I see much grounds for 59.601
.fl'itt 1 sbf°_:iing
..,,u.
sent—much for hope for the future.. mi with ',, 00;4
seconded the address of my Hoe.
less satisfaction, if I had felt any ile'tireL count 7or
or if I thought that the House or
_tduise or 5016
adopt any course which would jee,Paling 91). /70$51ith
the maintenance of peace, by gal_ into 13,600 '*.e
which might convert a positive surOiru!oe atte__„o4,
deficiency., I thank the House fo wro P'goed
(CheP • to Se
which they have listened to me...-. , beg
for having detained them so-long, and beg
erF.) chair, oitis'
motion of my Hon. Friend.—(Che the ot •he
The address having been read fronitts
viith gra by tea,
Lord JOHN RUSSELL said itiwess ,
pror!enell,reig
faction that in the terms of the ad( r t
readily efrao tv to
Hon. Gentleman opposite, he n'esiibieh fell aleithe%cl
neither scarcely to the observations 0
Object.
Quoa‘whicb.po
lion. Gentlemen had he any thing I,_ neeches
the topic' to i
ada_ren,ssa-ik aipopilhedeiliet,lo
Howere re,
or 6
tbheeenSpsoeeacbhlyfraodmdtrheessTedhrtoonteg muse,tue tract be any. ia t:t,
objection. At the same time there .io
speech of her Majesty, and the
which, he thought, called for re
not t. 0
entneli fl°
of those Members of the lio,use
Goo- the .0%
connected with her Majesty sto which gralifPoo
first topic of the Speech. was thebsviag pe of
nourable Gentleman alluded to
eerciglls be coo° ore
gn' i°t t° fad
circumstance of three foreign See'i
visits to her Majesty, their s(fe ;_bt ppowers t „
the last year. That those visits ltb'tse 'o3;io
0.4`;
amicable relations between, tend "'their eel'
this country, and there"Ywo,,t be AO th°4lo
the peace of the world, ctation. l'• and slot
d the a wish.' able
anxious wish and sanguine exPe MOOS ..A t
the lion. Gentleman who move he was, emit t°
of d
ecomerce' so elllist
is younger and more arden
those increased relations -ally • her o
ht rap` .note n it it s
and social intercourse, wig t Oa. . fet
did no
expectst'
the prospect of war, he
held that al dens°. her
tier Majesty's Governra
en
anal h for
tef.thart
strong a manner as tile . same tinle bop°
~00,
he perceived that at the
express their
e.„11; preetto,t;oar
Majesty's Government c,7`1,1,),0 were taale the ns oils
the continuance of peace, ..-toe to defend impossittle
esowever, I sure, , ;5'
and interest of the country. in order, upon the event or
.„.0."1., •t was *hat ,
did so with plei ' were tio
.„0,.
not to acknowledge, and , oeace h too )no
prospects fir the hencecontinu 01 r...,bie
yi
to
3:vlP,
„, rarCes " ointr
clouded with throe OP' the cc,. al. i he;
shook the confidence otg.
e was hsoPtira'tsry, other
maintenance of peso. noose arid bcetween 'll'e,
evor, to congratulate the ..",_ existed b,10,0.
the emica.ble relations whicar
of being, .„0 of,
C4lUntrie.s were not in
Nob!.o Lord, in allusion t(olsl3thge4l.ol3tiVO rTh'ltly