Sir Robert Peel was gratified, but not surprised to hear Lord John Russell recommend an unanimous concurrence in the Address. His colleagues and himself had long held the opinion that there was great inconvenience in forcing the House of Commons, on the first day of its assembling, when it was without the means of ascertaining the sentiments contained in the Address, to pledge itself to positive measures; and therefore, they had purposely framed the Address in a manner which would not necessarily provoke a collision of opinion. He ought not to refer, however incidentally, to the part of the Address which Lord John Russell had passed over lightly, of the foreign relations, without bearing testimony to the cordial cooperation which Russia had given to the arrangements with Persia. Lord John Russell seemed to doubt the policy of the special mission to the United States

"I think the noble Lord should bear in mind, that some of the causes of difference between this country and the United States have long existed; that the attempts on the part of various governments by means of correspondence to bring them to a satisfactory conclusion have failed, and that the continuance of the cause of discord leads to fresh and increasing difficulties. Hence it has appeared to Her Majesty's Government, without implying the slightest reflection upon the very able Minister who represents this country in the United States, Mr. Fox, desirable to send out directly to that country a person who has held high stations in the Council of this nation, and who, fully possessed of the views and intentions of Her Majesty's Government, should attempt

some other mode than that which has hitherto been resorted to, and which has not been successful, for effecting that which would be a great object for the interests of humanity and the civilization of the world, namely, the restoration of perfectly friendly and cordial relations with the United States, or, I should rather say, for the determination of existing differences. Certainly, my noble Friend, in undertaking at his advanced period of life such a task, has been actuated only by a sense of public duty. The sacrifices he has been called upon to make are great: but my noble Friend has yielded to the conviction we felt, that, considering the relation in which he stood-the estimation in which his respected name was held in that country-there could not be a more welcome messenger of the views of Her Majesty's Government than Lord Ashburton."

Lord John Russell had adverted to several supposed remedies for the distress, to be propounded by the Ministers: "The noble Lord has heard of a plan of general emigration; but that appeared without any authority on the part of the Government; and I think the noble Lord's experience of the conduct of a Government might have led him to know, that because certain measures were imputed by the public papers to the Executive, it does not follow that they entertain any serious intention of carrying them out, or that there should be an authorised reply. The noble Lord has also referred to certain dramatic reports of interviews which Ministers have had with deputations from the northern manufacturing districts. I am surprised the noble Lord should have spoken with such disparage

ment of the Socialist editor of the New Moral World. It is true the deputation were received; but still we did not encourage them to expect the high honour of presentation to Her Majesty. Would the noble Lord have thought it becoming in me to decline to receive them until I had first ascertained the private characters and the political opinions of those who composed the deputation? I saw the persons who called upon me, and who succeeded in deceiving me so far, that on entering the room I believed them to be a deputation as represented—a belief which was strengthened by the perfect knowledge of the subject on which they came to speak; but I am no party to the publication of what took place. Surprised as I was to find that a lengthened and detailed report of what passed had been published, I am innocent of any intention to derive an advantage from the dramatic effects of which the noble Lord spoke; and until I saw that these persons were editors of a newspaper, I remained under the pleasing delusion that I had been talking to workmen deputed by their brother workmen to give an account of their sufferings."

It had been his wish to bring on the financial and commercial policy of the country both together; but he was withheld by a consideration of the public in terest. He would, however, redeem the pledge he gave last Session, that no unnecessary delay should take place in explaining the views of Government: "I do not ask for delay; I do not intend to postpone the announcement of the Budget, as it is called, to that period of the year at which it is usually brought forward. Indeed,

so far as concerns the convenience of Her Majesty's Government, we are prepared to state to the House now the measures with reference to the commerce and finance of the country which we mean to propose; and I should have wished to state the nature of those measures simultaneously with the views which we have arrived at on the subject of the Corn-laws: but I think that there would be disadvantage to the public interests in postponing the consideration of the Corn-laws, and that it would be better that Her Majesty's Government should propose to the House their views relative to those laws on Wednesday next; and on the earliest possible day following, disclose the whole of our financial and commercial policy in Committee of Ways and Means."

Mr. C. Villiers did not dissent from the liberal generalities which had been uttered; and he rejoiced that the landed proprietary shrunk from maintaining the Corn-law, now that its mischiefs were generally detected. He only wished that Sir Robert Peel would seriously consider a permanent settlement of the question. He would avail himself of the earliest opportunity to take the sense of the House upon the principle of taxation of food.

Mr. Escott hoped that Ministers would bring forward a measure which should settle the corn question, with a view to the interests of all. The agriculturists had sustained a great loss in the separation of the Duke of Buckingham from the Queen's counsels; but they were not opposed to all changes, though most anxious for a termination to their present state of anxiety and uncertainty.

The Address was then agreed to.

crammed. Below the bar were seen a number of distinguished strangers, among whom the Duke of Cambridge, and numerous Members of the Upper House were conspicuous. Shortly afterwards, Sir Robert Peel rose and moved, "That this House resolve itself into a committee to consider the trade in Corn." He then requested that the Clerk of the House should read that portion of her Majesty's Speech which related to that subject. The speech which he then proceeded to address to the House, was listened to throughout with profound attention, marked, however, by manifestations of keener and more eager attention as often as the speaker was supposed about to develope the proposals of the Government. The extreme importance attached to the statements contained in this address under the circumstances which attended its delivery, warrants a larger allotment of space than can usually be afforded to individual speeches within the limits of this work, while its unusual length prevents its insertion entire. It is hoped that the extracts which follow will suffice to present a tolerably clear and complete, though abridged view of the statements and reasonings which it embraced.

He began by observing that it was difficult to discuss the subject without making statements or admissions which would be seized by opponents; but he trusted to the reason, the moderation, the judgment of Parliament. He would not, however, excite the hope that his measure would tend materially and immediately to mitigate the existing commercial distress, produced by a combination of circumstances. He had before seen de

pressions as great, and revivals of prosperity almost as sudden and extraordinary as those depressions; and to the operation of natural causes he confidently looked for such a revival. Sir Robert Peel briefly enumerated the causes to which he assigned the embarrassment, which had been in operation the last four or five years, viz.— the stimulus given to great undertakings by the connexion between joint stock banks and our manufacturing establishments; the immigration of labourers from the agricultural, to the manufacturing, districts and consequent building speculations; the immense increase of mechanical power; the reaction of monetary difficulty produced by similar causes in the United States, and the diminished demand for our manufactures there; interruption of commerce with China; the war-alarm in Europe, and stagnation of commerce consequent upon it. He did not think an alteration of the Corn-laws could be any remedy for some of the evils inseparable from these causes. "Extend,” he said, "your foreign commerce as you may, depend upon it that it is not a necessary consequence that the means of employment for manual labour will be proportionate to that extension." The handloom weavers were an instance of the disastrous effects upon particular classes of those sudden improvements in machinery which produced the general wealth of the country; a hard but inevitable condition. He referred to the exports to show the working of some of the causes which he named. He said, we were too apt, upon comparison of the last few years at any time, if we find a decline, to infer that the sources

of our prosperity are drying up: we should extend the comparison over larger periods. But even during a very recent period, the general exports showed an in

crease.

"On referring to the returns, I find that in the year 1840 the exports of British produce and manufactures-I speak of their declared value-to all parts of the world, exceeded the exports of 1837 by 9,355,000l.; that they exceeded those of 1838 by 1,345,000l.; that they fell short of the exports of 1839 by 1,817,000l. a falling-off sufficient, no doubt, to create great and natural anxiety and apprehension; but the causes of that falling-off will be amply accounted for if you will refer to the state of our commercial transactions with the United States. In 1839 there was an export to the United States of 8,839,000l., whereas in 1840 the total amount of exports was only 5,283,000l.; thus leaving a deficit in the state of our exports with the United States, in 1840 as compared with 1839, of the amount of 3,556,000l. Now this fact is sufficient to account for the falling-off in the general amount of our exports in 1840 as compared with 1839. In the mean time, it is satisfactory to view the progress of our Colonial trade. In 1837, the proportion of our exports to the Colonies was 11,208,000l.; in 1838, it was 12,025,000/.; in 1839, it was 14,363,000l.; and in 1840, it was 15,497,0007. Now let us look at the state of our commercial transactions with those countries in Europe which are the chief sources of our supply of food. Let us look at the state of our export trade with Germany, VOL. LXXXIV.

Holland, and Belgium. In 1837, the value of our exports to these three countries was 8,742,000l. ; in 1838, it was 9,606,000l.; in 1839, it was 9,660,000l.; and in 1840, it was 9,704,000l. So that even with respect to those countries which are the chief sources of our supply of corn when we stand in need of any, which are supposed to be such formidable competitors of our manufacturers, and with which the sale of our productions is supposed to be so rapidly declining on account of our exclusion of their corn, it appears that on the whole there has been a progressive increase in the exports of Our commerce. Sir, I cannot, therefore, infer that the operation of the Corn-laws is to be charged with the depression which unfortunately prevails in the country at the present moment.'

Various opinions obtained in the country as to a change of the Corn-laws. Some opposed all change. Sir Robert Peel believed their number very small, for most agriculturists believed that the Corn-laws might be altered with advantage. Others demanded immediate and absolute repeal, rejecting all modification: and those who advocated repeal of all taxes on subsistence, appealed to topics which gave them great advantage. A comparison was made between the dearness of food in this country and its cheapness in others; but that led to a fallacious conclusion: the true question is, not what is the price of bread, but what command the labouring classes have over bread, and what command they have over the enjoyments of life. The price of corn is much less in Prussia, than in this country; but what is the condition of the Prussian people? The evi[C]