The Sun.
London, England, 1842-01-24 00:00:00

COMMERCIAL REFORM.

On Thursday we gave an account of the interview'
which Mr. Cripps, and Mr. Heard, of Nottingham, and
Mr. Mitchell, the High Sherift of Leicestershire, had
with Sir Robert Peel, respecting the operation of the
Corn-law and Commercial Reform. The following ad-
ditional particulars, with the document which the Duke
of Rutland forwarded to Sir Robert on these subjects,
We extract from the Nottingham Mercury of Saturday :
The Deputation were received by Sir Robert with the
utmost courtesy, and paid the greatest attention to their
statements ; at the close he expressed a strong desire to
be furnished with information and suggestions.
The Deputation, in a few brief and forcible remarks,
showed that the " sliding scale," under almost any mo-
dification, would be unfair towards distant countries, and
more especially injurious to the trade with the United
States of America ; and, therefore, urged upon the at-
tention of the Right Honourable garonet the adoption
of a moderate fixed duty, whereby the importation of
grain from America might be rendered a safe operation
for the merchant. The deputation proceeded to show
that if such fixed duty were adopted we should furnish
the Americans with the means of paying for an increased
amount of British goods, and thus accomplish two im-
portant objects—obtain a supply of food for our opera-
tives, and the employment of their labour in purchasingit.
Sir Robert Peel, after cautioning the members of
the Deputation against drawing any other inference
from such questions as he might put, than that he was
desirous of obtaining every possible information on the
subject, asked them whether an improved mode of taking
the averages, and such a modification of the sliding scale
as would lessen materially the extent and suddenness of
the fluctuations, would not meet the case?
In reply, the Deputation assured the Right Hon.
Baronet, that it was the almost unanimous conviction
of those engaged in commerce, that a fluctuating duty
was essentially mischievous ; but at the same time sug-
gested that if Government were determined to adhere to
a fluctuating duty, its effects might to some extent be
counteracted, if time were allowed to exporters from dis-
tant countries to bring their corn into the British market
without being subjected to any higher rate of duty than
that charged on the earlier importations from the Con-
tinent of Europe.
Sir Robert observed that such an arrangement might
be a contravention of existing treaties with Continental
Powers, with whom, as for instance with Denmark, it
had been stipulated " that no other duty should be
charged on their grain than was charged on that coming
from the most favoured nation."
The Deputation replied that such a stipulation was
certainly a very conclusive argument in favour of a
moderate fixed duty.
Sir Robert gave expression to his strong desire to
encourage our trade with the United States—Promised
to give his attention to the statements the deputation
had then made, as well as to any suggestions they might
hereafter think proper to make to him—and the Deputa-
tion then withdrew.
The very important document which Mr. Cripps read
to the Right Honourable Baronet, and which he sub-
sequently desired the Deputation to leave with him, is as
follows :

" The United States of America take as large a quan-
tity of manufactured goods as they can pay for :if
we could increase their means of paymert, we could
safely increase our exports to that country. At present,
their shipments of cotton, tobacco, ashes, &e., do not
furnish a sufficient supply of bills to meet the pay-
ments for our manufactures. The consequence 15
that merchants are now remitting from thence in
gold. The last' Circular to. Bankers' states the amount
to be about six millions of dollars. within the last few
weeks. This, it is to be feared, will alarm the specie
paying banks, " and induce them to contract their
discounts, thereby producing a renewal of recent em-