The Liverpool Standard and General Commercial Advertiser.
Liverpool, Merseyside, England, 1847-05-11 00:00:00

REMEDY FOR THE EVIL EFFECTS OF FREE-TRADE.

From the foregoing it will be gathered that Mr. Buchanan sup-
poses; "that not only the existence of our national industry,
MA our existence as AN EMPIRE WITH DEPENDENCIES
ABROAD, depends on our immediately reverting to A
PRINCIPLE OF SELFISHNESS, OR ACCUMULATION, to the
extent the currency or otherwise the general prosperity (class
interests he does not for one moment argue for), demands
it."

He believes that "It is impossible to preserve The attachment
of the Colonists, of the British sailors, or even of the indus-
trious classes at home, without protecting the severely-taxed
labour of the British freeman, who will insist on somewhat
higher enjoyments than a mere animal existence, against
ruthless invasion by the untaxed labour of foreign serfs and
slaves, whose climates are so infinitely superior to ours as to
render little or no clothing or fuel necessary."

Mr. Buchanan farther says, that "The easy victory rained by
Free-trade over Protection was wholly caused by the country
having got disgusted with the exclusiveness and rapacious
selfishness of the English landowners, who, while they had
the legislation of the country in their hands, obtruded, in
every way possible, their own selfish, exclusive interests and
dogmas into the vitals of the liberties and general interests
of the empire."

" Ile would not be an advocate for a return to the Corn Law of
1815, or even to that of 1842; but he thinks that, even under
a depreciated currency, the Corn Law introduced in 1846 by
Sir Robert Peel (improved by there being no duty when the
price is over 505.) must be perpetuated as a protection to the
currency of the country; for Mr. Buchanan holds "That the
currency can only be protected through such protection to
our home industry as will practically keep up its amount in
fair proportion to the amount of foreign labour sold in our
markets, and for which specie has to be paid.

Mr. Buchanan further argues, "That it is utterly unreason-
able to expect the population of this country to be such fools
as long to submit to their Home Industry being trammelled
by Excise duties and restrictions, after untaxed foreign in-
dustry has been let loose on theirs ; so that the only chance
of the Interest of the National Debt of England being punc-
tually met is to be found in our retaining moderate Customs'
• Duties, (even if these were not imperatively required for the
higher and more immediate object of Protection to the Cur-
rency, which is the life's blood of our native industry,) for
any great increase of the Income Tax (however objectionable
it may be in abstract principle) must lead to the absenteeism
of capital from England, as was broadly stated by Lord Ash-
burton in the Corn Law debate."

Mr. Buchanan, as will be more particularly seen in his paper
headed "THE POSITION OF THE PROTECTIONISTS AT THE
OPENING OF PARLIAMENT," proposes a BRITISH COMMER-
CIAL LEAGUE similar to that l• etween the States of America
and Germany. "HE WOULD EXTEND THE PRIVILEGES AND
EVEN THE NAME OF GREAT BRITAIN OVER ALL OUR COLO-
NIES, VIEWING THEM AS COUNTIES, AND ESTABLISHING
BETWEEN THEM AND THE MOTHER COUNTRY, AND BE-
TWEEN EACH OF THE COLONIES RESPECTIVELY, THE SAME
UNRESTRICTED AND UNTAXED COMMERCIAL INTERCOURSE
AND POST-OFFICE COMMUNICATION AS BETWEEN TWO
COUNTIES IN ENGLAND. HE WOULD AT ONCE REDUCE THE
DUTY ON PRODUCE FROM CHINA TO 10 PER CENT. ON THE
VALUE IN THIS COUNTRY; AND MAKE THE LAW PROVIDE
THAT ANY FOREIGN COUNTRY CAN, AT ANY TIME, OPEN A
TRADE WITH THIS COUNTRY, ON RECIPROCAL DUTIES OF
10 PER CENT. ON THE VALUE IN THE COUNTRY WHICH
RECEIVES THE PRODUCE."
" He believes most sincerely, that IF OUR LEGISLATORS DO
. .
NOT AVAIL OF THE PRESENT MOMENT, WHEN RAILWAY
EMPLOYMENT IS SO PLENTIFUL, to prepare, by very revolu-
tionary changes in our commercial and monetary systems,
for a time when the population must be thrown back into
their ordinary fields of industry, there cannot fail to be ex-
perienced in this country a misery far more extensive and
widely ramified than any distress ever before felt in Eng-
land."

And Mr. Buchanan farther states—" But experience'lms amply
demonstrated that the best cyst( ms, or the greatest im-
provements in any, even the most patriotic and intelligent
systems, will prove altogether insufficient for more than a
very limited period, if means are not taken to remove away
or rather to induce to go voluntarily) from this country an
amount of our population, equal, at least, to one-half the
yearly increase thereof; aud it therefore becomes the co ru MON
PEOPLE IN THIS COUNTRY NEVER TO LOSE SIGHT OF THE
FACT, THAT THERE IS NO COUNTRY IN THE WORLD, EX-
CEPT OUR OWN COLONIES, WHICH WILL NOT SHUT THEIR
PORTS AGAINST THEM, AND THAT THEY WILL NOT HAVE
EMIGRATION OPEN TO THEM AT ALL SHOULD THESE NOBLE
COUNTRIES CEASE TO BE BRITISH COLONIES."

REMEDY FOR THE PRESENT MONETARY CONVULSION.
Mr. Buchanan, it will be observed, holds "That the present
threatening aspect of our Monetary matters will not be teni-
porary, but permanent, because it arises, not from a tempo-
rary, but from a permanent cause—because, in fact, it is not a
derangement of our Monetary and Banking system, but an
increasing paralysis thereof."

He views it to be " MERE CHILD'S PLAY our wasting time in
discussions about the MERE MACHINERY OF THE JTANK OF
ENGLAND as established by Sir Robert Peel—as much Child's
play as if a physician, called to a patient in whom life is ex-
piring, were to denote his whole attention to an examination
into the form or outward structure of the patient's limbs, or
as if we were to stop to praise the marvellous adaptation to
its use of the channel of a mighty river, when its well springs
are drying up, or when its waters have down away."
Mr. Buchanan seems to have no more doubt than when, on Sir
Robert Peel's Free Trade announcement, he published (in the
London Standard, of 7th February, 1846,) his first letter to
the members of the Imperial Parliament, that " The want of
confidence, or paralysis, caused by the Alien and 3 nti-British
principle-of THE LATE PREMIER'S FREE TRADE MEASURES
WILL RENDER UNAVOIDABLE A NO LESS SWEEPING
CHANGE IN THE CURRENCY THAN THE MAKING SILVER
(TWENTY SHILLINGS TO THE POUND) A LEGAL TENDER
EQUALLY WITH GOLD."
" The Banker, or the person owing the debt, would thus have
it in his power to pay which ever he pleased, (either being
equally valuable in. the trade of this country,) THE PARTY
DRAWING SPECIE FOR EXPORTATION BEING THUS OBLIGED
TO PAY THE MARKET PRICE for the coin which will suit him,
or take what will not suit to send abroad, and being thus led
to see that British labour (or manufactures) is the most pro-
fitable thing be can take."

The Customs sale at London, which was the most extensive
for the last 5 years, has just concluded. Amongst the most ex-
tensive purchasers was 5,1 r. Chateaux, of Bedford street, whose
advertisement appears in this days paper. The.gcods com-
prise every fabric that ingenuity oz foreign enterpme could 1)e
supposed to produce.