Star.
London, England, 1820-04-25 00:00:00

THE EVENING STAR,

LONDON.

TUESDAY, APRIL 25, 1820.
THE FUNDS.
ritICE OF STOCKS THIS DAY AT ONt O'CLOCIi
3 per Cent. Reduced 68N
3 per Cent. Consols 69%
3i per Cent. 77%-4 per Cent. 87%
Sper Cent. Navy 105% 'A
-India Bonds 265. pt.
txchequer Bills (2d.) 4s. 6s. pre.
Commercial Is. pre.
Consols for Acct. 69% Ys.

We mentioned some time ago that a Petition to
the Parliament, in favour of FREE TRADE, was in
course of signature. The Petition, which we sub-
join, is well drawn, and the principles which it ad-
iocates are, upon the whole, well argued ; but it is
a subject of no uncommon difficulty, the system of
our Commerce and our Revenue being so corn-
pletely interwoven, that no radical change can take
place in the one without completely remodelling the
other. The Petitioners seem aware of this, and there-
fore, towards the conclusion of their statement, they
have actually involved themselves in the very sys-
tem of Restriction against which their Petition pro-
fesses to be levelled.

Principles, to be truly effective, must be followed
out to their extent, without any limitation whatever.
It may be difficult in any case where distortions of
principle have, by any means been induced, to apply
an instant remedy : in the case before us, where the
whole system is radically wrong, and has been suf-
fered to grow up with malformations which-have be-
come inveterate, the application of an immediate
cure is absolutely impossible. But the first steps
may be taken, and eventually a remedy may be pro-
vided—or rather, the causes of the evil may be re-
moved, and the system will cure itself.

The changes that must take place before this
healthy state can be induced, are, we apprehend,
great beyOnd anything that the Petitioners have yet
contemplated—at all events, they will extend much
farther than the Petition seems to contemplate.—
The whole Revenue department, connected with the
Customs, must be remodelled : the very point which
-the Peti:ioncrs wish to save, must be abandoned—
annihilated—before that system of Free Trade which
would insure to the industry. and enterprise of the
country its full remuneration, can be attained : nor
will this, whatever may be the impediments to its
adoption, prove ultimately injurious to the Revenue
as a whole—though it may annihilate some of its
branches—for the facilities of contribution always
have been, and always will continue to be, pro-
portimed to the undeteriorated fruits of our na-
tional industry. Whatever causes an unnecessary
waste of labour to procure a certain portion of
enjoyment, tends to diminish, in the same pro-
por.ion, the abilities of the consumers to con•
tribute to the necessities of the State. The con-
verse of this is equally true; and, therefore, though
the difficulties in the +w•ay of a change may be
many, a comylete change—the complete establish-
ment of a Free and Unrestrained Trade would,
at one and the same time, increase the wealth of the
Community, and increase the Revenue ;—but not
through the medium of that branch denominated
the Customs. To the Government or the subject
it can eventually make no difference, whether a
certain sum be paid in one way or another, if both
be equally economical ; but it makes a very great dif.
ference if the one be attended with a certain sacrifice
of industry, which is, in the strictest sense of the word,
national property, is sacrificed by one method of con-
tribution, which might be avoided by another:

PETITION OF THE BIE:a.CIIA NTS OF LONDON.
" To the Honourable the House of Commons of the Uni:ed
Kingdom of Great 13ritain and Inland, the humble Petition

of the undersigned Merchants of the City of Lor.don,

" Sheweth, 'Fast foreign commerce is eminently conducive
to the wealth and prosperity of a country, by enabling it to im-
port the commodities, for the production of which the soil, cli-
mate, capital, and industry of other countries are best calcu-
lated, and to export in payment those articles for which its own
situation is better adapted.
4 That freedom from restraint is calculated to give the utmost
extrusion to foreign trade, and the best direction to the capital
and industry of the country.

" That the maxim of buying in the cheapest market, and wi-
ling in the dearest, which regulates every merchant in his indi-
vidual dealings, is strictly applicable as the best rule for the
trade of the whole Nation.
" That a policy founded on these principles would render the
commerce of the world an interchange of mutual advantages,
ti diffuse an increase of wealth and enjoyments among the in-
habitants of each State.

" That, unfortunately, a policy the very reverse of this has
bon, and is, more or less, adopted and acted upon by the Go-
vernmeut of this and of every other country. each trying to ex-
clude the productions of other countries, with the specious and
well-meant design of encouraging its own productions; thus in-
flicting on the bulk of its subjects, who are consumers, the ne-
cushy of submitting to privations in the quantity or quality of
Commodities; and thus rendering what ought to be the source
of mutual benefit and of harmony among States, a constantly
jealousy and hostility.
recurring occasion of
" That the prevailing prejudices in favour of the protective
or restrictive system may be traced to the erroneous supposition
that every importation of foreign commodities occasions a di-
minution or discouragement of our own productions to the same

extent whereas it may be clearly &hewn, that although the
particular description of production which could not stand
against unrestrained foreign competition would be discouraged,
yet as no importation could be continued for any length of time,
without a corresponding exportation, direct or indirect, there