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1825:

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only to incite them to more furi- aspect.* New companies were
ous rhodomontade. The language formed ; day after day teemed
which the printed reports of their with successive projects ;t and
proceedings imputed to O'Connell,
went on one occasion to such a * The following was given in a
length, that the attorney-general of the JOINT-STOCK COMPANies formed in

French periodical publication, as a TABLE
deemed it proper to hold that gen- England in 1824, and the beginning of
tleman to bail. An indictment
was subsequently preferred against

Object.

Capital. him for the words which he had used, but the grand jury did not

£. find the bill.

33 Canals and Docks... 17,753,000

48 Rail-roads.... 22,454,000 Except in this one point, the

42 Gas

11,110,000 political horizon was unclouded.

6 Milk

565,000 Nearly all property had risen great- 8 Supply of Water 1,750,000 ly in pecuniary value, and every

4 Coal Mines

2,750,000 branch of internal industry was

34 Metal ditto

24,495,000 20 Insurances

41,800,000 thriving. Agricultural distress had

23 Banks, &c.

21,610,000 disappeared; the persons employ- 4 Supply of Corn, &c. 410,000 ed in the cotton and woollen manu- 12 Navigation, Packfactures were in full employment;

5,540,000 3 Fisheries

1,600,000 the various departments of the

Pearl Fishing

625,000 iron trade were flourishing; on all Cultivation of Indisides new buildings were in the

go, Sugar, &c,

10,500,000 progress of erection; and money 4 Agriculture

4,000,000 was so abundant, that men of en

2 Establishment of

Manufactures in terprise, though without capital,

Ireland

2,500,000 found no difficulty in commanding 3 Embellishment of funds for any plausible undertak

London

1,410,000 ing. This substantial and solid 2 Tunnels under the

Thames....

200,000 prosperity was stimulated to an

2 Sea-water Baths 750,000 additional extent, and was in ap

2 Newspapers

460,000 pearance still further magnified, by

18 Miscellaneous 1,832,050 the operation of the many jointstock companies which had sprung

276 Total .......£ 174,114,050 into sudden existence in the former

+ In the Times and Morning Chroyear. Some of these had put in nicle Newspapers of the 23rd and 24th motion a considerable quantity of of January, advertisements of the folindustry, and increased the demand lowing companies were inserted :

East London and United Docks Railfor various articles; and ail of

road. them, at their commencement, and Faversham Navigation. for some time afterwards, tended Westminster Fish Company. to throw a certain sum of money

Metropolitan Loan and Investment into more active circulation, and

Company

Bognor New Town Company. to multiply the transfers of

pro- Royal National Bath Company. perty from one hand to another. London Brick Company: As these speculations still retained Bridgewater Ship Canal. their popularity, the apparent pros

Welsh Iron and Coal Mining Company.

British Iron Company. perity arising from their artificial

Birmingham and Staffordshire Gas stimulus presented an imposing Light Company.

the shares of joint-stock companies ment, which specifies the amount not only sustained the absurdly of the instalments paid on each high prices which they reached in share in five of the principal mining the latterend of 1824, but even rose companies, and the market prices far higher. The madness which of these shares, on the 10th of prevailed at this time cannot be December, 1824, and the 11th of shown more fairly or more conclu- January respectively:sively, than by the following state

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Some of these projects derived their Independence.” This meafresh popularity, and the general sure, beneficial and popular in satisfaction with the measures of itself, was the more acceptable, the government was much increas- because it was justly deemed proed, by an important step which phetic of the course which would was taken in fixing the foreign be adopted with regard to Chilé, relations of the country.

Peru, and Guatemala, as soon as Mr. Canning made a formal a stable governments should be communication to the foreign mi- created in these countries. nisters accredited to our court, in

On the 3rd of February the seswhich he stated « That in consequence of the repeated failures of sion of parliament was opened by

commission. The commissioners the applications of his majesty's government to the court of Spain, present were the lord chancellor, the relative to the recognition of the archbishop of Canterbury, the earl Independent States of South Ame- of Westmorland, the earl of Harrica, his majesty has come to a rowby, and the earl of Shaftesbury. determination to appoint chargés After the speaker and several of des affaires to the States of Colom- the members of the House of Combia, Mexico, and Buenos Ayres; Lord Chancellor read the follow

mons had been introduced, the and to enter into treaties of commerce with those respective States ing speech :on the basis of the recognition of

My Lords and Gentlemen,

“We are commanded by his General United Coal Company.

Irish Investment and Equitable Loan Metropolitan Flour and Bread ComBank.

pany. Equitable Investment Company, London and Manchester Equitable Metropolitan Investinent Society, Loan Company.

Surrey, Sussex, and Hants Rail-road Grand Junction Rail-road Company. Company.

Erection of a new Pier at St. Ives.
Taunton Grand Western Rail-road Equitable Loan Bank Company.
Company.

British Patent Brick Company.
Metropolitan Banking Company. Investment Bank.
Sea and Inland Coal Company.
General Steam Navigation Company.

Palladium Insurance Company.
Bermondsey Dock Company.

Crown Life Assurance Company.

London Northern Rail-road Company. Metropolitan Alderney Dairy Com- British Shipping Loan Company. pany.

London, Brighton, and Devonshire Fishing and Steam Navigation Company.

British Amuity Company,

[B 2]

Majesty to express to you the gra- able. It is, however, satisfactory tification which his Majesty de- to find that none of the native rives from the continuance and powers have manifested any unprogressive increase of that public friendly disposition, and that the prosperity upon which his Majesty bravery and conduct displayed by congratulated you at the opening the forces already employed against of the last session of Parliament. the enemy, afford the most favourThere never was a period in the able prospect of a successful termihistory of this country when all nation of the contest. the great interests of the nation “ Gentlemen of the House of were, at the same time, in so Commons, thriving a condition, or when a “His Majesty has directed us feeling of content and satisfaction to inform you, that the Estimates was more widely diffused through of the year will be forthwith laid all classes of the British people. before you. The state of India, It is no small addition to the gra- and circumstances connected with tification of his Majesty that Íre other parts of his Majesty's foreign land is participating in the general possessions, will render some augprosperity. The outrages, for the mentation in his military establishsuppression of which extraordinary ments indispensable. His Majesty powers were confided to his Ma- has, however, the sincere gratifijesty, have so far ceased, as to cation of believing, that notwithwarrant the suspension of the standing the increase of expense exercise of those powers in most of arising out of this augmentation, the districts heretofore disturbed. such is the flourishing condition, Industry and commercial enter- and progressive improvement, of prise are extending themselves in the revenue, that it will still be in that part of the United Kingdom. your power, without affecting pubIt is therefore the more to be re- lic credit, to give additional faciligretted that associations should ties to the national industry, and exist in Ireland, which have adopt- to make a further reduction in the ed proceedings irreconcileable with burthens of his people. the spirit of the constitution, and “ My Lords and Gentlemen, calculated, by exciting alarm, and “ His Majesty commands us to by exasperating animosities, to en- inform you, that his Majesty condanger the peace of society, and to tinues to receive from his allies, retard the course of national im- and generally from all princes and provement. His Majesty relies states, assurances of their unabated upon your wisdom to consider, desire to maintain and cultivate without delay, the means of ap- the relations of peace with his plying a remedy to this evil. His Majesty, and with each other; Majesty further recommends the and that it is his Majesty's conrenewal of the inquiries insti- stant endeavour to preserve the tuted last session into the state of general tranquillity. Ireland. His Majesty has seen ciations which have been so long with regret the interruption of carried on through his Majesty's tranquillity in India by the unpro- ambassador at Constantinople, bevoked aggression, and extravagant tween the emperor of Russia and pretensions of the Burmese govern- the Ottoman Porte, have been ment, which rendered hostile oper- brought to an amicable issue. His ations against that State unavoid. Majesty has directed to be laid be

The nego

fore you, copies of arrangements tions; and his Majesty directs us which have been entered into with to assure you, that you may rely the kingdoms of Denmark and upon his Majesty's cordial co-operHanover, for improving the com- ation in fostering and extending mercial intercourse between those that commerce which, whilst it is, states and the United Kingdom. under the blessing of Providence, A treaty, having for its object the a main source of strength and more effectual suppression of the power to this country, contributes slave trade, has been concluded in no less a degree to the happibetween his Majesty and the kingness and civilization of mankind.” of Sweden ; a copy of which treaty (as soon as the ratifications In the House of Lords, viscount thereof shall have been exchanged) Dudley and Ward moved the Adhis Majesty has directed to be laid dress in answer to the Speech, and before you. Some difficulties have in doing so, displayed the same arisen with respect to the ratifica- ingenuity and precision of thought, tion of the treaty for the same ob- with the same elegance of style, ject, which was negociated last which had so often pleased and year between his Majesty and the instructed the House of Commons. United States of America. These He took a view of the state of difficulties, however, his Majesty the country since the conclusion trusts, will not finally impede the of the peace, and dwelt particuconclusion of so beneficial an ar- larly upon the great increase of our rangement. In conformity with commerce and manufactures. Our the declarations which have been present prosperity, he said, was a repeatedly made by his Majesty, prosperity extending to all orders, his Majesty has taken measures for all professions, and all districts, confirming by treaties the com- enhanced and invigorated by the mercial relations already subsist- flourishing state of all those arts ing between this kingdom and which ministered to human comthose countries of America which fort, and by those inventions by appear to have established their which man seemed to have obseparation from Spain. So soon tained a mastery over nature by as these treaties shall be completed, the application of her own powers; his Majesty will direct copies of and which, if any one had venthem to be laid before you. His tured to foretel it only a few years Majesty commands us not to con- ago, would have appeared altoclude without congratulating you gether incredible, but which, now upon the continued improvement realized, though not yet perfected, in the state of the agricultural in- presented to us fresh prospects, and terest, the solid foundation of our a more astonishing career. There national prosperity; nor without never was a time when the spirit informing you that evident advan- of useful improvement, not only tage has been derived from the re- in the arts, but in all the details lief which you have recently given of domestic administration, wheto commerce, by the removal of ther carried on by the public, or inconvenient restrictions. His Ma- by individuals, was so high. That jesty recommends to you to perse- world, too, which had first been vere (as circumstances may allow) opened to us by the genius of a in the removal of similar restric- great man, but afterwards closed for centuries by the barbarous and ab- had done. We no longer dreaded surd policy of Spain, was, as it were, the rivalry of the foreigner in our re-discovered in our days. The last market, and were able to contend remnant of that veil which con with him in the markets of the cealed it from the observation and continent. We were now fully intercourse of mankind had just taught, that the great commercial been torn away; and we saw it prosperity of England had not abounding, not only in those me- arisen from our commercial retals which first allured the avarice strictions, but had grown up in of greedy adventurers, but in those spite of them. more precious productions which After stating his conviction that sustain life and animate industry, the concession of the claims of the and cheering the mind of the phi- Catholics was essential to the tranlosopher and the statesman with quillity of Ireland, he expressed boundless possibilities of reciprocal his mortification at seeing much in advantage in civilization and in the language and conduct of the

commerce.

He remembered that Roman Catholics themselves which a great historian and statesman, was calculated to keep alive the after describing what appeared to remembrance of old times ; to fix him (and what, according to the upon their church the charge of imperfect nature of those times, being semper eadem in its most undoubtedly was) a period of great odious sense; and to strengthen the prosperity, still complained, that arguments and embitter the feelthere was wanting what he called ings of those who were determined, a proper sense and acknowledgment at all hazards, to resist their claims. of those blessings. That, of the Their language had become mewant of which lord Clarendon had nacing, and their conduct trod once complained, was not wanting upon the utmost verge of the law; to us now: the peopleof England felt provoking the hostility of their eneand acknowledged their happiness: mies, and terrifying their friends. the public contentment was upon They had already lost all those a level with the public prosperity. that wavered ; and they might ere Alluding to the benefits which long shake those that were still had arisen from the removal of firm. It was only by reverting to commercial restrictions, he recom- another line of conduct, that they mended that the principle should could justify the cordial co-operabe persevered in. In every case tion of their friends, or conciliate in which the principle had been opponents, too strong to be overacted upon, the effects had been come except by the entire subverhighly beneficial. When the bill sion of the state itself. They for the removal of the restrictions should keep in mind that this is on the silk trade was brought for- no country for rapid changes ward, how numerous and weighty that even our liberties were of were the complaints which were slow growth. If they would but made ? Yet so far from the trade compare their own condition with having decayed, as had been anti- what it was forty years ago, they cipated, it had flourished since that would see ample reason to be conperiod more rapidly than before, tent with the past, and sanguine and had since extended almost as as to the future. There were now fast as the manufacture of cotton living many who had grown up

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