The daily national Whig. [volume] (Washington, D.C.) 1847-1849, 1849-05-21
From Tie Philadelphia North American,
The Protective System.
LONDON, May 4, /

LONDON, May 4, 1913.
Avery formidable party Is now organized for the
purpose Of restoring protective duties and putting
down reetradc doctrines and their a yocates great
meeting was held at the Hall ot Commerce in the
city, on Tuesday last, when, il is estimated that
there We're two thousand persons present who repre-
scented stems OF millions" oil property These gen
tlemen engaged in agricultural, commercial
manufacturing, shipping and colonial pursuits, and
favorable to the principle of moderate and equal
protection to every interest oil the State they met
for the purpose OF considering the expediency OF
gaiiLng an association for mutual defence against
the destructive application Of the extreme princi-
pies Of free-trade." The Duke OF Richmond cce,i-
pied the chair He opened the meeting with an clabo.
rate speech, which was received with hearty cheers.
He stated that the great interests Of the country were
about to be itedagrenlture commerce and manu-.
features would go hand IN hand for protection. lie
referred TO the bancfl effects OF iree-trade and the
suicidal policy Of the government in attempting to re-
peal the navigation laws.
The Marquis OF CRANKY moved the first resolution,
to the effect, that the freerade feeling had failed 10
produce the benefits predicted that il had inflicted
deep injury 10 the great interests oil the country that
there Yves reaction in favor Of just and moderate
protection, and that the influence Of the agricultural
colonial, mercantile, manufacturing and shipping in
terest should be united in resistance to the further
progress Of experimental legislation.
The Marquis OF CRANKY, in the course OF his re-
to look at the daily papers to ascertain the effects Of
treetrade The voice OF distress raised through
out the country The fatal proofs Of the misery
and ruin that ree-trade had produced were visible
in every branch Of trade in every direction
The speaker said It was impossible for Englishmen
70 compete with the untaxed foreigner. Alter quot
ing largely from Adam Smith, and showing the fala.
ey Of many popular theories as applied to England
he adyeried to the present condition OF the Canadas
the West Indies and other colonies, and in conclusion
called upon the different interests OF the country 10
unite TO obtain Tor all classes adequate and fair
amount Of protection.
Several other influential gentlemen addressed the
meeting, and nearly all referred to the bait held ont
by Mr.. Bancroft respecting the willingness Of the
American government 10 meet the Britt government
on the subject OF the navigation laws. One speaker
said by this very mail from America we learn the
views OF President Taylor on this subject and what
his views why, SO Far the United States were
concerned, they would stick to system Of protective
policy s @4t @ s tsyaias
Before the meeting separated an association was
formed for the purpose Of fully ont the policy
Of protection.
This demonstration has Qnite alarmed the adyo.
Gates Of trade, who promise TO re-organee and
renew The warfare. The Daily Nens, The organ
of the free-tradars, says " tho ancorn Law I.eague
mus be Recognised, aud for the attainment Of
more comprehensive measures. There IL no help
for IL. A powerful faction have formed a comb.
nation TO overthrow free frade and the very exist
ence of the nation requires that they be met with.
out delay by the measures hnd the discipline which
conquered Them beforc.n But this IL much easler
said than done. The opinions of the majority are
now decidedly for fair protection and If the old free
traders were not aware Of this fact they would not
so readily and so anxiously again raise their free
trade banner.
The simple .lruih is that almost every class IL
suffering from the effects Of general staenaton OF
trade But what caused such ruinous state of
trnde II cannot all be thrown upon the rcpenl Of
the Corn Laws, for that very measure saved thou
sands from premature grave The ports were
opened and the people were fed with food from
America. There WINS fnmine In the country and
Americans sent over their ship-loads Of corn The
present crisis in the affairs Of the United Kingdom
had liz origin in other quarters. Railways, manu-
iuciures, famine, rash speculation and revolutions
have destroyed the legitimate trade of England -
According TO Lord Brougham the enormous sum Of
one hundred and eighty millions sterling has been
expended IN reilways in this country! Tho railway
MANIA and It's results, is q subject that Is w,Il
known. Everybody ganibled In railway stocks. and
thousands were ruined, The great Railway King
Hudson has gone with the rest of his dupes.---
The rash specuIations in brendstuns also came and
swept oil the oldest and wealthiest houses MIL.
lionarcs were utterly ruined In single day. al
suspicion rested upon the most substantial banking
hrins The manuiac.ures have suffered by over.
production, and Cutting every market with their
goods and they are still suffering by the unsettled
state OF Europe. They are working their mills al
aloss,-and will soon be compelled TO close Them
altogether. The nPficulturaIsts are Suffering be.
cause the repeal Of the Corn Laws is filling Eng
land with foreign bfeadstufs. The British iarncr.
heavily taxed by the landowner and the Govern
nicni cannot compete with The farmers Of Western
America. At present rent and taxes nre paid out
OF capital but this system Of llqudaiion cannot long
continue. va
From every circle, every class, every condition
and lie people arc poos TSc lower e.sses s u Saa
and so do the better cInssee. Capitalists End no |
safe OF profitable investments merchants dare not
send their ships g sea II the present state Of Eu-
Iopean nifairs The manufacturers receive few or
ders tof goodsthe farmers cannot realise cost for
ther produce, and In abort, from the upper class.
e down TO the day isbovsr all comploin o. their