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right hon. gentleman on this subject. The suggestion originated entirely with himself. It was manifestly unjust to see that right hon. gentleman slaving, day after day, at the duties of an important office, without receiving any recompense. It really struck him as a matter of absolute injustice. No individual should be allowed to devote his labour to the service of the public, without receiving a just remuneration. Mr. Peel said he certainly had not heard this question formally discussed, but undoubtedly the observations of the hon. gent. appeared to him to be exceedingly just. The remuneration of the president of the board of trade, whose duties were many and arduous, ought not to be given indirectly. He thought there could be no objection in placing that office, in performing the duties of which the individual sacrificed almost the whole of his time, on a different footing. Instead of that, however, the right hon, gent. was placed in another office (treasurer of the navy) to which a salary was attached. He was thus made responsible for an expenditure, to the items of which it was impossible that he could attend. They stood in this situation, that a gentleman performed the laborious duties of one office which was not paid at all ; and he held another, the duties of which were imperfectly performed. Sir R. Wilson understood the right hon. gent, to say, that the relations of this country with respect to the South American provinces, would not be influenced by any proceedings on the part of the other courts of Europe. But the right hon. gent, had not, as it ap

peared to him, answered the principal question of his hon. friend (Mr. Baring)—whether the recognized minister of any of those states would not be received like the minister of any other inde

pendent power? Mr. Peel said the hon. member asked whether any particular circumstances had prevented Mr. Lempriere from being presented to the levee, because he had heard a rumour that certain representations, on the part of some European governments, had induced this country to recognize a sort of mitigated, not a positive, state of independence in the South American provinces. That question he had distinctly answered. He had denied that there was any intention on the part of England to allow any foreign power to interfere with the regulations which she had established with those states. . Mr. Hume observed, that a reduction of taxation, coupled with the liberal policy which the government appeared willing to adopt, would tend greatly to the happiness and prosperity of the nation. House of Lords, June 30.-The Earl of Liverpool moved the second reading of the customs' consolidation bill, one of the measures for carrying into effect the new commercial regulations. It was not his wish to trouble their lordships at any length on the subject of this bill; but the measure was so important, that he considered himself called upon to say a few words in explanation of it. The main principle on which the measure was founded was the doing away with prohibitory duties, and introducing certain regulations. There were, however, some exceptions: as, for instance, the bill did did not interfere with the corn laws, nor with cattle now prohibited. He hoped, however, that this part of the subject would be brought, at another opportunity, under the consideration of parliament, as French cows were introduced under the name of Alderney cows, and this fraud was accomplished by means of the grossest perjury on both sides of the water. A considerable change had been made with respect to the silk trade, the prohibition being removed, and a protecting duty of 30 per cent. substituted. In mentioning cotton, he reminded their lordships of the remarkable circumstance that the British manufacturer could undersell the natives of India in their own market, though the price of labour was here 2s. 6d. a day, and in India only 24. On paper the duty was also reduced. He should next direct their lordships' attention to the duty on woollens. Hitherto the import duty had amounted to 65 per cent., but this measure proposed to allow importation with a protecting duty of 15 per cent. It was necessary to act on liberal principles of commerce, if we expected other countries to adopt a system of liberality in their intercourse with us. Upon this view the whole of these regulations of reductions were founded. But he now came to one branch in which the reduction was more considerable than any he had yet mentioned. He meant the great branch of metallic articles. The first he should mention was iron, in which the reduction was from 6l. 10s. to to ll. 10s. per ton. This important alteration was likely to prove highly advantageous to our manufacturers at the present moment; for such was the demand for iron

risen to 30l. per ton.

at Birmingham, that the manufacturers had for some time been unable to make all the articles ordered. In the article of copper, the reduction was from 21. 14s. to 1l. 7s. He came next to lead, an article which could well bear a regulation of the nature which had been applied to the others he had enumerated; for the price of lead, which during the last ten years had been not more than 191. 10s. per ton., had within a few months The reduction proposed on this article was from 1 l. 16s. to 1 l. Without further troubling their lordships with details, he would say, that the reduction of the duties on manufactured articles was from 50 to 20 per cent., and on unmanufactured articles from 20 to 10 per cent. It was probable that this system of regulations would make other countries adopt a similar course of policy. To do so, a just sense of their own interest would be a sufficient inducement; but it was proposed to lay an additional duty of 5 per cent. on imports from all countries the governments of which did not allow trade to be carried on with them on equal terms. He thought their lordships would agree with him in thinking that the regulations he had described went as far as it was at present proper to go. In the distressed situation in which our manufacturers were some years ago placed, it would have been improper to attempt such a change; but the time for carrying into practice a liberal system of commerce had at length arrived. The principle acted upon, he again repeated, was the doing away with prohibitions; and he concluded by moving the second reading of the bill.

The

The Marquis of Lansdonn concurred with the noble earl in every word he had stated, and expressed his approbation of the regulations. He regarded the measures before their lordships as forming a very great and a very salutary revolution in the trade of the country. House of Lords, July 6.-The House met at three o'clock, when the commissioners appointed by his Majesty for the prorogation of parliament took their seats in front of the throne. They consisted of the Lord Chancellor, and the Earls of Shaftesbury, Harronby, Westmoreland, and Liverpool. The deputy usher of the black rod was ordered to summon the Commons. In a few minutes the Speaker appeared at the bar, accompanied by fifty or sixty members. The commission having been read, the royal assent was given to the surplus of grants bill, the combination laws' amendment bill, the Scotch partnerships bill, the church rates in Ireland bill, the apothecaries bill, the Selsea forest enclosure bill, the western shi canal bill, the Sidmouth harbour bill, the Bristol town dues bill, and the marine insurance company bill. The Lord Chancellor then read the following speech:— My Lords and Gentlemen, “The business of the session being now brought to a conclusion, we are commanded by his Majesty to express the great satisfaction which he feels in releasing you from your laborious attendance in parliament. “His Majesty returns you his warmest acknowledgments for the zeal and assiduity with which you have prosecuted the inquiries into

the state of Ireland, which he recommended to you at the opening of the session. “It is a particular gratification to his Majesty, that the tranquillity and improved condition of that part of the United Kingdom have rendered the extraordinary powers with which you had invested his Majesty no longer necessary for the public safety. “His Majesty is happy to be able to announce to you, that he receives from all foreign powers the strongest assurances of their friendly disposition towards this country, and of their desire to maintain the general peace. “While his Majesty regrets the continuance of the war in the East Indies with the Burmese government, he trusts that the gallant exertions of the British and native forces employed in operations in the enemy's territory may lead to a speedy and satisfactory termination of the contest. “Gentlemen of the House of Commons, “We have it in command from his Majesty to thank you for the supplies which you have granted to him for the service of the present year, and at the same time to express the satisfaction which he derives from the reduction you have found it practicable to make in the burdens of his people. “My Lords and Gentlemen, “His Majesty has commanded us to assure you, that he is highly sensible of the advantages which must result from the measures you have adopted in the course of this session, for extending the commerce of his subjects by the removal of unnecessary and inconvenient restrictions, and from the beneficial relaxations which you have deemed it expedient to introduce into the colonial system of this country. “These measures, his Majesty is persuaded, will evince to his subjects in those distant possessions, the solicitude with which parliament watches over their welfare: they tend to cement and consolidate the interests of the colonies with those of the mother country, and his Majesty confidently trusts that they will contribute to promote that general and increasing prosperity, on which his Majesty had the happiness of congratulating you on the opening of the present session, and which, by the blessing of Providence, continues to pervade every part of his kingdom.” The Lord Chancellor then signified his Majesty's royal will and pleasure, that the present parliament be prorogued to Thursday, the 25th day of August next, to be then and there holden; to which day it was prorogued accordingly.

House of Commons, July 6.At three o'clock the Speaker entered the house, and in a few minutes afterwards, having taken the chair, the deputy usher of the black rod was admitted : he acquainted the house that the lords, authorized by royal commission to give his Majesty's assent to several bills, and . to prorogue, in his Majesty's name, the present parliament, summoned the attendance of that house in the house of peers, to hear such royal assent read, and to witness the prorogation of parliament, in the usual form. The Speaker, accompanied by the very few members who were present, then quitted the house; and after an absence of a short time, returned, with a copy of his Majesty's speech in his hand, which he read to the honourable gentlemen around the table. The members then separated, and the Speaker quitted the house. Parliament was afterwards further prorogued as usual.

CHAPTER WI.

State of the Country, external and internal.—Agriculture, Manufactures, Commerce, &c.—Ireland.—Colonies.

HE space occupied by the report of a parliamentary session of uncommon interest, has left us a very little room for this chapter; but parliament is the great mirror in which the state of the nation is reflected. In this commercial country, the year 1825 will long be remembered for high commercial prosperity at its commencement, and panic and stagnation at its close; joint stock companies, over-trading, and the system of country banks, united to cause an unlooked for explosion. Much was done in relief. The Bank of England gave rational and efficient assistance wherever it was practicable. Gold was sent off to the country in every direction. Ministers came forward to lend aid to the public; and the precious metal being under the mint price, enabled every press to be set at work. Gold was coined at the rate of 100,000 sovereigns a day. The evil began from no cause but panic, occasioned by the depression of the funds, from the sums sold out to meet the demands of joint-stock companies, joined to the want of confidence from the display of the numerous bubbles in which losses were encountered. Thus the mischief began in London, where it seemed rapidly to subside, on the temporary nature 1825.

of the cause and the display of the resources possessed, and the means of support offered, being made known. In the country the case was very different: the distress of the industrious and poor enormous, and the evil incalculable. We may hope, however, that it will eventually be the means of putting commerce upon a surer and less speculative footing. The revenue has suffered in some de

gree from this stagnation. The deficiency in the year on the gross amount is 238,940l. Much of this distress has been ascribed to the new principles of free trade; and some, as the glovers and silk weavers, have petitioned against it. But the fact is, that on the strength of the expected increase of the silk trade, in consequence of the duties being withdrawn from the raw material, individuals embarked a large capital, instantly, and made preparations for manufacturing quantities of silk goods. For these there is an inadequate demand—not from foreign silks taking the place of British manufactures, but because too much has been manufactured, and, instead of proceeding gradually with their trade, (having command of money) and waiting for an increase of demand, our manufacturers built factories, and set thousands of fresh hands at R. R. work

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