The Sun.
London, England, 1845-02-04 00:00:00

the cotton trade, that it was never in a more.thriving state.
The profits of the manufacturers have increased, and
with there the wages of their workmen ; but, Sir, I am
aisvare that tilde at% Ottte of our manufactures
which have not found so largS A Market
as some branches of the spinning trade. But
taking the two, and calculatng them together,
I believe I am perfectly right when I state that, at no
period in the history of our spinnag and manufacturing
interests, has the balance applicable to profits
and wages been greater than during the past
year. The application of capital in new mills,
and the improvement of old ones and machinery,
have also been much greater in the past year. With re-
gard to the woollen trade, it is a source of no small
satis-
faction that an improvement has taken place in this
branch too, because it fully bears out the statement
which has been made of the improvement of the people.
A great, in fact the larger, portion of our woollen trade
is supported by the home market, and, of course,
the increase of this market bespoke an improvement in
the condition of the poor man. The flax trade, I may
state with confidence, has undergone a considerable im-
provement; indeed, I may state that the increase has
been upwards of twenty per cent.; but it is very
likely this increase is attributable to the removal of some
of the restrictions on this trade. Still, the difference
which has taken place in our flax manufacture speaks
favourably of the improvement of the condition of the
people, notwithstanding the difficulty that may exist to
estimate the quantity applicable to home consumption.
It may be asked, has our foreign demands justified this
increase in our manufactures ? Now, if we run
through the articles of British produce which have been
exported this year, we shall find that the amount of
exports has been larger than in any former period.
There has, however, been a falling off in two items—coals
and cotton twist. With regard to coals, I believe I may
state that this has resulted not from a falling off in the
demand, but from the strike among.t the workmen in the
mining districts, which no doubt Hon. Gentlemen are
aware of. With regard to cotton-twist, it will be seen
that' the item shows a falling off of 50,000,000
pounds. I believe, however, that this difference in the
exports arises, not from any indisposition on the part of
our foreign 'neighbours to take this article of British
produce, but to the great amount of consumption which
has .taken place in the home market. All our manu-
facturers in this article have boen, I may say, more
than , fully employed, nevertheless they bare been
unable to supply the home as well as the foreign market.
But we must look beyonide‘,h,intsh,vrinisernteostascertain the ed
s conditionarens
f o,fthl
inofsef
e. theaTrht people; el
customses )sp ne
which
perhaps, looka regardedbteot ttnehsre
the
cheosent
neces-
saries consump-
tioncmtehs
;power of consumption than the excise ; but the excise
may be considered as showing the people's power of
expenditure ; and of malt, spirits, and soap, there has
been an increase. Loeking at the articles of tea,
sugar, and tobacco, the gradual increase which was tak-
ing place afforded a satisfactory proof of the improved
egtchst:eisdba withks
nathreerl
proofsiablet
ofo some
prosperity,exceptions,
inycerte,
nanes
condition of the people. Although the returns of the
in deposits, and the diminution in withdrawals, are
very pleasing circumstances, Another satisfactory
railways
—eatthusincrsehanswe
showing
gn tehiteherretnunrns
in
alleso proofnvinn
crease in traffic for business purposes, or a greater
power of expenditure for the purposes of recreation. It
may, indeed, be doubted whether this prosperity be of a
permanent character. I know that last year very great
doubts were entertained, though I am not aware upon
what date they were founded, whether the improve-
ments which then manifested itself would continue for
any length of time. But looking at the state of trade, and
the moderate price of raw materials, and looking also
at the fact, that no foreign markets are glutted, and
scarcely any overstocked, and considering, further, that
there is an abundance of capital, which in every
manufacture was the great element of prospe-
rity, I cannot see any reason to apprehend that
there is any exaggerated spirit of speculation in con-
nexion with the trade and manufactures of this country.
The new banking regulations, although their appli-
cability to the circumstances of this country can only
be tested by experience—(Hear, hear)—these regu-
lations have proved a salutary check upon an over
spirit of speculation, I believe that that spirit of
speculation has been absorbed by reckless railway
undertakings. Although I am fully sensible of the
importance of such undertakings, and of benefits
which they confer by giving employment to la-
bourers of various kinds, and otherwise benefiting
the country. I think it is impossible to see the
exaggerated calculations made as to the result of
those undertakings, without feeling that this is one of
the dangers by which the country is menaced.—
(Hear, hear) This is a danger also, to which,
under our manufacturing system, we are unavoid-
ably subject ; but fur that evil there is no
remedy except that of producing in the minds of the
manufacturers a spirit of foresight, and in the minds of
the operatives a saving disposition. bir, the great pros-
perity of this countryundoubtedly acted upon its
finances—(Hear, hear)—it has, undeubtedly increased
its resources ; but it is impossible not to see that this
change of circumstances really originated in the adoption
of the income-tax. I will not discuss the question whether
it be or be not (as we understood the Hon. Gentleman) a
convenient or proper kind of tax ; I only state the
fact that it has accomplished the great object
for which it was established. Sir, I believe
the excess of expenditure over income in 1842 was
2,149,000/., the surplus of revenue over expenditure,
in 18411, was, I believe, 3,356,0001, while the advance
reqtilted from the Bank of England in January in this
year is only one thir I of what was required in 1842. The
value and price of securities resting upon Government
credit, have corresponded to the improvement thus ex-
hibited ; and this improvement ie itself the legitimate
triumph of the wisest policy and the soundest
economy on the part of the Government.
After some further observations from the Hon. Mem-
ber, the addrees was put from the Chair.
Lord JOHN ItUSSELL said it was with great satis-
faction that in the terms of the address proposed by the
Hr. Gentlemen opposite, he most readily concurred,
neither scarcely to the observations which fell from those
Hon. Gentlemen had ho any thing to object. Neither to
the Speech from the Throne, nor to the speeches which had
been so ably addressed to the House, had he any serious
objection. At the same time there were topics in this
speech of her Majesty, and the address in answer to it,
which, he thought, called for remark on the part
of those Members of the House not immediately
connected with her Majesty's Government. The
first topic of the Speech to which the Ho-
nourable Gentleman alluded to, was the gratifying
circumstances of three foreign Sovereigns having paid
visits to her Majesty, their sovereign, in the course of
the last year. That those visits might pet taro to more
amicable relations between those Powers and
this country, and thereby tend to maintain
the peace of the world, must be their most
anxious wish and sanguine expectaion. And though
the lion. Gentleman who moved the address, and who
is younger and more ardent than he was, wished that
those increased relations of commerce, of amicable and
and social intercourse, might rapidly put an end to
the, prospect of war. He did not think either that
Her Majesty's Government held that expectation in so
strong a manner as the Honourable Gentleman, for
he perceived that at the same time that her
Majesty's Government expressed their hope for
the continuance of peace, they were taking precautions,
in order, upon' the event of war, to defend the honour
and interest of the country. However, it was impossible
not to acknowledge, and he did so with pleasure, that the
prospects for the continuance of peace were not so
clouded with those appearances which last year
shook the confidence of the country in the
maintenance of peace. He was happy, how-
ever to congratulate the House and country, that
the amicable relations which existed between other
countries were not in danger of being broken.
(LEFT SPEAKING.)

NEW PROJECTED RAILWAYS.
(From the Gazette of this Evening.)
RAILWAY DEPARTMENT, BOARD OF TRADE,
WHITEHALL, FEB. 4, 1845.
Notice is hereby given, that the Board constituted by
the Minute of the Lords of the Committee of Privy
Council for Trade, of the 24th of August, 1844, for the
transaction of railway business, having had under con-
sideration the following schemes, fur extending railway
communication in the Worcester and Wolverhampton
district, and in the district intermediate between the
London and Birmingham and Great Western Railways,
viz.:—
The Birmingham and Goucoster—Wolverhampton
Line,
The Birmingham and Gloucester—Deviation Line,
The London, Worcester, Rugby, and Oxford Railway,
with an extension from Worcester to Dudley (nar-
row gauge),
The Oxford and Rugby (wide guage),
The Oxford, Worcester, and Wolverhampton (wide
gauge),
have decided on reporting to Parliament in favour of
the

Birmingham and Gloucester—Deviation Lino,
The _London, Worcester, Rugby, and Oxford Railway,
with an extension from Worcester to Dudley (nar-
row page) ;
and against

The Birmingham and Gloucester—Wolverhampton
Line,
Oxford and Rugby (wide gauge),
Oxford, Worcester, and Wolverhampton (wide gauge).
DALIIOUSIE.
G. R. PORTER.
S. LAUTG.

C. W. PASLEY.
D. O'BRIEN.

THE LONDON GAZETTE.
(THIS EVENING.)

At the Court at Buckingham Palace, the 3d day of
February, 184 present, the Queen's Most Excellent
Majesty in Council. This day the Right Be n. Sidney
Herbert was, by her Majesty's command, sworn of her
Majesty's Most Honourable Privy Council, at id took his
place at the Board accordingly.
DUCHY OF LANCASTER, FEB. 3, lb' 45.
The Queen has been this day pleased to appoint
Pudsey Dawson, of Hornby. castle,' Esq., to be SI ieritT of
the county palatine of Lancaster for the year ens'aing,
WHITEHALL, FEB'. 4.
The Queen has been pleased to constitute ane4 appoint
the Right llon. Sidney Herbert to ho ter Atajoity's
Secretary at War.