Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1826-06-06

l
Tue House, that those Honorable Members who
may favor me with their attention will be reward
GU ny nearing principles laid down in the clearest
manner, not by theorists, not by PHILOSOPHERS
lcheeTs mot by unbendng ne,aphyscisns with
the malignity OF demons in their hearts. but Inv
merchants and traders, and those principles ex
pressed liz terms so much more persplcuous than
those in which could expound them ,bo, shaIi
read 1t TO the House. Ii is the petition of the Nor
chants and traders of the City of London; il
states ' Z"
ha foreign commerce emnently conducive 10 the
ana prosperity OF country by enabling II 10 import The
commodities for the production Of which d. .I ci,na
, ana industry OF other counc. bc calculated and 80
better adapted. '' ""''" rs own situation Is
That freedom from i, calerlatcd to Give The p
most extension TO foieign trade an, the be. 60
ita and 'niu'tIy Of the country. ~ up
rhls the maxim OF buying in the chenpe,, market and
me dearest which regulates every merchant in H.;
dealings ricty applicable, the beet rule for the
That policy founded on the.. ,r;,,;,t -, 49,,
ne OF the world interchange Of mutual avants
se and muse an increase of wealth aud enjoymeut among
the nh'bnan OF each state. -
iha gnoitana;e policy, the very reverse Of this ha,
ana IS more OF less, adopted and uron by the Go
exclude the productions OF other countries with the nrc
;s;,; ds''Sn oil encouraging its productions thu.
ihietinS on the bulk of IFS SUBJECTS who are ,onsrmer, ,
necessity OF submitting TO Prvations the quantity and ous
% and thus rendering what TO be the source
oil mutual benefits, and OF harmony among ates c,n,,,n
teeu1 RI occasion Of jealousy and hostility.
nis,he prevailing Prtudees favour the protective
system, may be traced to the errone uppo,i
ton that every Importation of eiSn commodities
aa OK aIeourasemen of c"I productions
s,ie eNeht whereas may he clearly shown that ahourh
e p,mcar description of production which could not stand
ye ne r 0reSn competition would he discouraged
no importation could be continued any Tenth Of Time
whoa; corresponding cxPostion dhec, OF ndirec tb.,,
ton of soe e,er tor the purpose of that eAPora
Meter su'ed thus ahording least equal aud probably
capital and labour.n f J' W "" own
1 shall not trouble the House with reading the
whole OF this valuable document (Cries Tread.
read VIII then read the whole, for really
think 1t Is most valuable document; and, indeed
II was though so at the time, for it is one OF
few, 1t not the only one, which Is given At Ienotb
In the reports of our debates:
rha of the protective and prvhborv ,tie. Of
cur commercial CODE may be proved ha, while ali operate
any ultimate benefit to the in whose favor bcv wer
originally instituted and the extent Of III. los oeea
That among the other evils Of the restrictive or crec,;v,
yem not the least is, that the protection Of ON.
competition, set up ground of claim by other bancbe
Tor similar projections that it the reasoning upon which
toio"ed mp consistently would stop short Of EXCLUDING
from all foreign commerce. whatsoever"
IhIs the House will observe, is the yery poi,t
in question
And the same lin Of argument, which, with corre,pond
@ Pohoon' and protective duties, should exclude US from
ioresn trade might be brOugh forward 10 iu.tf ,b - ]
ment oi restrictions upon the interchange of production, T
connected with public revenuel among the Kingdoms CONNIE
sing the Union among the counties of ,e ss,ns LII
Ihas an investigation o the effects the restrictive sy
ten, at this time, peculiarly called for a, nov IN The 3
ION ct your petitioners, lead strong presumption thai The
distress which generally prevsi IS eonsiderabv a~r
waited by that system" [Great ehcermsj "ee
ms Is the very case now and the point that fol-
lows - equally applicable TO the present ,imes
AUD that '0me relief may be obtained by the earliest
ieabe removal Of such Of the as NAV be .hen 10
ana 10 ne attended with no comPensans benefit the public
revenue $50 f
That declaration against the an;icomnerc;aI
o on restrictive system IS OF The Importance The pres
en Junoure inasnuch in several instances of recent
renee the merchants aud manufacturers il foreign states have
'eu ul. iefPeouVe governments with applications for
further protective Proibory duties and regulations, ,rrinr
The example and authority of the country against which ey
are almost exclusively directed anotion for the policy Of
'ueh measures And certainly fhe reasoning upon which orr
restrictions have been defended worth any thing il ,yi an
ply III nehii ct the regulations Of foreign against US
Ihoy INSIST upon our superiority in capital and nacbnerv NJ
equal foundation" ~ "
1t then proceeds with similar arguments A.
gainsi all restricton except what NAV he essential
to the revenue, SC, and it concludes by prayne
the House TO take the subject into consideration.
and adopt such measures as may be calcnIate ed IN
give greater freedom 10 foreign commerce, and
thereby TO increase the resources OF the state Ii
VIII be clear to .whohave listened to the readn
OF this petition, that the same prnciples are there
laid down which have since led 10 the passing nj
the Bill have alluded TO. WHY have laid so
much stress upon this petition? Sir, for two rea-
sons first, in order to shew that ii W have pursu
ed this course we have done SO, not on the heo-
S9 "a oll ON tDe opinions OF merchants
and men OF business; secondly, TO sheyy that the
merchants of the city of London, the great seat OF
the commerce and pecuniary wealth of the country
eIt convinced that at that period of distress in 1920
that the distress was aggravated by the restrictive
system. We are told that, by pursuing this svs.
TEN, we think of nothing but aggravatng the dis
tress, and treating human feeling as if we were
hends' what then shall we think of the parties
who could send such petition as this what !.
the list Of names? took the trouble to look them
, over this morning, and find among them the names
OF some OF the most wealthy. and INTELLIGENT m on
IN London. The first is of the most djstin-
guished meIchants in the city of London. Tie has
been Governor Of the Bank of England. and IL
now Director of that body, and has been long >
member OF this house Hear hear his name
also will protect him from all suspicion Of bis heinz
: among the tbeoris's-I mean Mr.. S. Thornton,
The list included the names of other Governors Of
the Bank of England. do not offer the pe,ition
to the notice OF the house by way of an apology for
my friends or myself, or by way Of exclamation Of A.
ny thing may have done TO have raised the wrath
: Of The honorable and learned gentleman opposite
Mr.. Williams) Tor say now, as at first, that
wnat we have done, Is calculated TO promote the
prosperity OF the country; and all those who have
brought the public to look with favour upon these
principles, have done great service 10 their eoun-
try DO not avoid making apology when ne.
cessary; nor do | wish TO gain credit, If none be
due. We followed the impulse Of public opinion
we did not foresee, or anticipate, it, do not
think 1t the duty OF Ministers at any time to antei
pate public opinion. ! think Il the duty of those
in responsible situations to be cautious how tbev
make any changes in policy; to be slow not To
conviction Of the truth, but in deliberation before
giving effect to plans with the results Of which
they ought to be previously satisfied. do not. as
accused by the Learned and Hon Member. think
that 1t requires the good to give an impulse 10 the