Indiana State sentinel. [volume] (Indianapolis) 1841-1853, 1846-03-05
Highly Important News.
ARRIVAL OF TIE CAMBRIA.
ONE MONTH LATER PROM EURopr.

Sir Robert PeeES Financial Scheme Important
Reductions IN Duties American Producf-Pro-
! position for Repeal Of the Corn Ldrs, dc DC
The steamship Cambria has arrived with important
news from England. The news is of the most graf
flying character 1t is Of the most pacific kind and
the important change in the commercial policy pro-
posed by Sir Robert Peel will tend to preserve the
peaceful relation Of the two countries 1t Will be
seen that the reductions proposed by the Cabinet on
American produce are most Important 10 our mer-
chants and agricuturists
Parliament has assembled. The Queens message
Is entirely pacific. Expressions of regret are made
that the difficulties between that country and the
United States relative to Oregon, yet unsettled
The steamship Cambria, Captain Judkns takes
out to-day the most important and gratifying nell-
gence that left the shores of reat Britain Sir
Robert Pee-Englands powerful and brilliant Minis
ter-has developed his future commercial policy. 1t
Is at once simple and comprehensive and under It's
operation the exchange of commodities between this |
country (England) and the United States will be car
rled to an extent, and VIII be mutually productive fl
advantages, greater, TO quote not irreverenily the
words of the sacred volume thln the eve hath vet
seen. or the heart hath conceived" the scheme
embraces, with full sense of their Importance the
principles Of free undergraduates all protection for
commerce, manufactures, and agriculture; admits !
corn, duty free, at the end Of three years. with scale
IN the Interim which will probably oscillate between
four and six sngs per quarter, and at once admits
Indian corn and buckwheat free Of all duty what
ever.
To the details of this great measure we earnestly
en,reat the attention of our commercial readers We
beg to refer them to the speech ITSELF and to our re-
marks upon IT, Great Britain. at the present mo-
ment, is in blaze of excitement men talk and
think of nothing else; they have set their hearts upon
securing the great fiscal scheme for the regeneration
Of the country, which the Premier has laid before
Parliament and they desire curail the period fixed
for the total extinction of the Corn-laws The friends
of peace and progression, on this side Of the water
hope-earnestly aud sincerely Lope-that ;he new
policy will bind America to by the Il ties of ami
ty, brotherhood and interest," and that the miserable
squabbling about barren waste viii give way to
more liberal, civilized and cOmpreEens views.
The immediate effects of the new tariff OH the most
prominent articles of American exports we ia, e
noticed elsewhere. Altogether the subject, in its va
rous phases, Is the most important that ever crossed
the Atlantic since the introduction of ocean naviga
ton aud ii that is wanting is for the Government
of the u States TO meet us in kindred spirit and in
the true spirit Of commerce and Of friendship forget
the past and run generous of mutual happiness
and prosperity for the future.
But these preliminary remarks are keeping us from
the object at which desire TO arrive-to Dont out
to readers the most striking features in the plan
for the fiscal regeneration Of the country winch Sir
Robert Peel in four hours speech, introduced to the
House of Commons, on the 9th instant. In that
speech he took elaborate review of the fiscal con-
diton Of the country, and announced the reduction of
duty on a number of articles which press upon the
commercial and agricultural interests He impressed
upon The manufacturers the necessity of preparing for
the advent of free trade by giving up whatever lim-
ted Of protection they now enjoy from foreign
competition in the shape of prohibitory duties; and
the duties imposed he announced his intention of
reducing TO nominal amount. But this appeal to
the manufacturers is useless they have loBg since
publicly repudiaed the benefits of all protecting du-
ties lave declared that they seek aid beyond free
scope for the exercise Of their talents in the open
markets of the world: and have often said in sub
stance to the agriculturis " do thou likewiee The
timber duties undergoing revision but into tie
details of the change he did not enter, reserving
for another day.
For the reductions on tallow, on paper hanging. on
soap and candles, boots and Shoes on foreign spr-
IFS; on clover and other seeds, provisions (fresh
and salted vegetables, foreign made carriages
we must refer to ample report of the speech itself
IN another column. We do little more than indi-
cate In this place, currente cdCnO the primary heads
of the scheme. Sugar. that great article of Colonial
produce, which next to the corn laws, has been most
vlrueDtly asSailed on account Of the tenacy with
which the Minister has chung in screening 1t from
competition-is still to be more or less protected.
Save-grown sugar he still regarded as an abcmna-
ton; but the duty foreign free labor sugar is TO be
reduced IS. 3d. per cent. Tie corn laws lie proposes
10 abolish totally and uncondtionallv on the first of
February, 1S49, and in tn mean time modified ST.
ding scale is to be substituted for the at present in
existence.
the duty will be los, and when above 4Ss and under
49s, 9s. and on, the duty declining Is. with rise
in the price of Is, until the price reaches 5as when
a permanent duty Of As is to take place. In order
to propitiate the landlord class of money
| be advanced by Government for the improvement of
agriculture. The law Of settlement is TO be altered,
so that after servitude residence of FIVE years in
the manufacturing district, the peasant who has left
the plough for the factory, receive parochal aid
if he require it, from the place Of his udoption
tie place Of bis nativity; and the with regard TO
his children and his widow. Moreover, the highway
rates are to be remodelled plan which is to
a tug at the agricultural purse and various other
charges hitherto paid of the county rates, such
the expenses ofconvcted prisoners, of prosecutions at
sessions the education of work house children, &C.,
are to be paid in future by the State
In word, the scheme is near an approxI-
nation to the principles of free trade be safely
consistent with the policy of country which has Its
credit to support, and the interest of overwheln
ing national debt TO pay. Sir Robert Peel has ac-
knowledged the principle that duties ought to be
levied for and not for protection, end his flu
ture policy it is clear, will be directed to that end.
But would be too much assume that he carry
out the new of action which he has
entered without struggle, and desperate struggle,
too with the powerful interests which believe them
selves to be eopardsed. The proectonists boil
ing witt fury, and the language recently held in the
House of Lords by the Dukes of Richmond ard Buck
ingham. indicate the fierce passions which sway the
breasts of British landlords towards the most clear
headed, practical statesman of his age Agriculture,
they saw cannot exist without protection, but Peel
says it exist without it at the end of three years
He has pitted against him the aristocracy-at least
the insovent portion Of it, who live from hand TO
mouth by their rents, and cannot submit to any dni
mutton, however slight, even with permanent profit
in prospective. This is not slight contemplate oppo
J sition but worse remains behind.
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