American Republican and Baltimore daily clipper. [volume] (Baltimore, Md.) 1844-1846, 1846-02-21
PEEL'S FINANCIAL SCHEME

In four hours speech, introduced in the
House OF Commons on the 9th January. In
that speech he took an elaborate review of the
h.cal condition of the country, and announced
the reduction of duty on number of articles
which press upon the commercial and agrcul-
tural interests. He impressed upon the man.
uiactures The necessity Of preparing for the
advent of fee trade, by giving up whatever
limited amount of protection they now enjoy
from foreign competition in the shape Of pro.
hlbltoTy duties; and the duties so imposed he
announced his intention of reducing to NOM
Inal amount But this appeal to the manu-
iacturers is useless; they have long since pub
licly repudiated the benefits of all protecting
duties; have declared that they seek for no aid
beyond free scope for the exeJCse of their
talents in the open markets Of the world; and
have often said in substance to the agriculu-
rist edo thou likewise" The timber dut es
are to undergo a revision, but into the details
ofthe change he did not enter, reserying il for
another day.
For the reduction on tallow, on paper hang
ings, on soap and candles, on boots ami shop ),
on foreign spirits, on clover and other seeds
on provisions, (fresh and sailed on vegetables,
on foreign made carriages, we must refer to
our ample report Of the speech itself 10 anoth-
er column. We can do IIttlc more than indi-
cate in this place, ctrrente clianlo, the prima-
Ty heads of the scheme. Sugar-thaI great
article OF Colonial produce, which next to the
corn laws, has been most virulently assaiIed
on account of The tenacity to which the Min.
lister has chung in screening it from competi-
TOMS still 10 be more or less protected
Slaye-grown sugar he still regarded as an a.
bomination; but the duty on foreign free labor
sugar is to be reduced IS Cd. Per cent. The
Corn laws he proposes TO abolish totally and
Internationally, 0n the fist Of February, lS49,
and in the meantine modified sliding scale is
10 be substituted for the one at present in ex-
istenoe.
For instance, when the price Of corn is un-
der 3Ss., the duty will be los: when above
48S and under 40s., 9s,, and so on, the duty
declining Is, with rise in the price of Is
until the price reaches SIS, when perma-
nent duty of As is TO take place, in order 10
proptiate the landlord class, sums of money
are to be advanced by government for the i'm
proyemcnt of agriculture. The law oil settle
ment l. TO BE- altered, so that, after a seryitudc
or residence Of live years in manufacturing
district, the peasant who has left the plou ia
for the factory must receive parochIal aid, II
he require II, rom the place OF his adoption
not the place Of his nativity; the same with re
gard to his children and his widow. MoreC.
yer, the highway rates are tn be remode ct
on plan which is 10 ave q tug at the agri-
cuturai purse; and various other C1aTges, hIh
etc paid out OF the country rates, such as tht
expenses OF ConvI,ted prisoners, OF prOseCu
TINS a sessions, the education OF work house
child en-, SC, are 10 be paid in future by The
State.
In a word, the new scheme is as near ar
approximation TO the principles Of free trade
as can be safely consistent with the policy OF
a country whlch has its credit to support, and
the interest of an overwhelming national deb
to pay. Sir Robert Peel has acknowledged
the principle that duties ouhgt to be levied for
revenue and not for protection, ami his future
policy, 1t is clear, will be directed to that end
But it would he too much to assume that he
can carry out the new course of action on
which he has now entered without struggle
and desperate struggle too, with the power
ful Interests which believe themselves to be
.jeopardised The pro ectionsts are boiling
with fury, ana the language recently held il
/ the House Of Lords by the Dukes of Rich
mond ard Buckingham, indicate the fierce pas
sion which sway the brests of British landlord
towards the most clear-headed, practical
statesman of his age.
/ Locking at the question in every point o
! view, taking into account the present position
OF parties, the advent Of new election, the
flush of triumph which manteis the cheeks o.
the Free traders, the gloom and anger which
reign in The faces of the Protectlonists view.
ing the st1te Of the registry, the condition OIL
the Iood market, our relations with the Uni
! ted States, the absence of an excitement eX-
cept Oh the great question of free trade-we
arrive at The conClu, ion, not only tIat Sil
Robert Peel Will pass his new fl triumph
antly, but that he will do in the PRESENT
! L ARLIAMENT!
| Domesiic,-Mr. Golden has published an ad
dress to the farmers ofEngland on the PROPOSE
ton of Sir r. Peel, relative to corn. His OBJ
ject is TO convince them that it is better for
their interests, in every point o. view, to have
the corn laws repealed at once, instead Of
waiting for the ministerial term Of three years
The reasoning by which he supports this view
of the case appears Oh the face Of it very con-
elusive, but whether the response will be il
the spirit of Mr.. Cobden's letter is very doubt
full. No class of men dread change more thar
farmers, and most of all, sudden changes.
The battle which has been raging for some
time between the Free Traders aud the Pro-
tectionists continues with undated fury; and
the sound of the conflict falls upon The cal
from almost every part of the country. The
Anti-corn law League, while they approve OF
Sir Rob TT Peel's financial scheme as whole
are busy mlrshaing their strength against
the modified 81 ding scale for three years.
But the landlords are not idle; and if thejl
oratory Is not so eloquent or so convincing, il
is not less earnest and impassioned Members
of Parliament are generally influenced by
other motives than reason, and many of them
are in the situation Of the representative of a
Scotch borough, who declared unblushingly,
shave heard many speeches that changed my
opinion, but never heard one that changed
my VOTE"
The ceebra ed DR.. Pusev, a the expiration
of his three YEARS. SUSPENSION, APPEARED on