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A LONG PULL, AND A STRONG PULL, AND A PULL ALL-TOGETHER,”
FOR BETTER PRICES, BETTER PROFITS, AND BETTER WAGES.
“Alas, my dear Sir, I am dying every day of Poulett Thompson laid great stress on the the inost favourable symptoms."--Pope.
continued increase of the exports, to rebut A CONTINUATION OF THE ANSWER the notion of manufacturing distress in that TO T. WHO IS FOR “A LONG PULL,
year; and as a consolation to the agriculturAND A STRONG PULL, OF A FEW ists for their distress. TOGETHER,” FOR WORSE PRICES,
These facts prove, that the export trade is WORSE PROFITS, AND WORSE
a trade of itself; that though it may be conWAGES.
nected, it is not intimately so with the home We have now followed T. through the im- trade; and the previous argument has shewn port of the raw material of the silk and cot- that the quantity exported is no proof whatten and woollen manufactures, at the two ever of the prosperity of the trade, because periods of 1821 and 1833, and seen how he more goods having to be worked up to prohas assumed every increase which has taken duce the same profit and wages at the reduced place in such import as a proof of prosperity. prices, it may happen that a great increase in We have shewn by facts and reasoning how the quantity of goods exported, without a corthis increase sprang from any other source responding value obtained for them, is a proof rather than a profitable trade, i. e. from a re- rather of adversity, and of a losing rather duction in duties pressed for in consequence than of a gaining trade. We believe this to of declining profits, and the necessity for have been very much the case with our working up more to obtain the same returns trade for the last 15 years. We know all that as before, although on double the quantity the philosophers say aboutthe folly of supposof goods. The figures, therefore, put forth ing that men will carry on a losing trade. But by T. as demonstrative of prosperity, are no we happen to know human nature, as well such proofs at all. If we wanted an addi- as some of the dreams of philosophy, and tional argument in favour of this position, we learn from this, which is the true source, we should find it in this fact—that at the that men will even for years carry on a losing time when both manufactures and agricul- trade, not on general principles, but from the ture were acknowledged by the King's principle of hope, so strongly implanted in Speech to be in a state of great depression, the human breast, spurring them on to exviz. in 1821, Mr. Huskisson took occasion pect better times. The spirit of gambling is to say, that there was one consolation, which also at work; the gamester consoles himself was, that the exports had been greater than for his loss in his sanguine anticipation of ever during the three last years: here were the glorious results of the next throw. This increased exports, and decreased prosperity, is human nature, which is not guided, as the Again, in 1830, when the speech from the philosophers would have us think, by pure Throne declared both manufactures and ag- reason alone,—the moral sentiments, the riculture to be suffering, Mr. Huskisson a passions interfere,-nay, are frequently, if second time alluded to the exports, saying, not generally, ten times more active in their notwithstanding the depression, it was some operations than the mere intellectual funccomfort to know that the exports for the tions. Are not the farmers at least a living three previous years had exceeded those of instance of carrying on a losing trade for any preceeding years. In 1833 also, Mr. years together? And on no other principle
than that of hope. We are better acquainted
Spirits. with the circumstances of the farmer, be- 1821.. 13,160,288 gallons. cause his affairs are not only known to his 1833.. 26,669,757 landlord and the steward, but his business is
Increase 13,509,469—102 per cent. to a great extent an open one; his crops and his riches, or his poverty, are all exposed to
Wine. the face of day; and his neighbours are, many
1821 .. 4,686,885 gallons. of them, able to judge of his condition. This
1833 .. 6,413,789 is not the case with the manufacturer; his
Increase 1,726,904—37 per cent. is a close concern, and his fate is frequently
Tobacco. not even guessed at till his name appears in the Gazette, and that appears very seldom
1821.. 15,828,550 lbs. in latter days, because so small were the
1833.. 20,771,813 effects generally left in the failures which
Increase 4,943,263–31 per cent. took place, that they were not worth the
"Thus, while the increase of our alaexpense of gazetting; and so the debtor en
tion has been 17 per cent., the mean increase tered into a composition which satisfied the
of consumption of the materials of our three creditor that he had all he could get : but
great staples of manufacture has been 100 this system of compounding, which now prevails to so much greater an extent than per cent.; and of the six articles which con
tribute to the comforts or luxuries of all formerly, conceals from the public view many
classes, 75 per cent.' a bankrupt case. All these were circum
'No uncertainty can exist !' Then T. puts stances which T. forgot to mention in his
down all this mass of increased consumption history of prosperity. He would have made
to an increased individual capacity and power an excellent “ Non mi ricordo,” at the late
in the population to consume. He either Queen's trial.
means this, or he means nothing; if he does Having done with the three articles we have before mentioned, concerning which
mean that these figures are to be taken, and
taken alone, as an actual test of the condihe stated that some doubt existed as to the
tion of the people, we will, at least, shew proportions used at home and the propor
that there must have been a wilful intention tion exported, he goes on to say,
on the part of the writer to deceive the pubWith regard to the following six articles,
lic upon the subject. no such uncertainty exists :
Before we proceed further, we will refer RETAINED FOR HOME CONSUMPTION.
to an answer made by Mr. Mathias Attwood Coffee.
to Mr. Poulett Thompson, in the debate on 1821.. 7,503,001 lbs.
his (Mr. A.'s) motion on distress in 1833. 1833.. 22,760,523
And it is the more convenient, not only as Increase 15,257,522—203 per cent.
shewing the philosophic mode of treating this
subject, and as embracing some of the very Sugar.
articles now brought forward, but as an il1821 .. 3,056,882 cwts.
lustration generally of the foundation of the 1833 .. 4,075,762
theories of the T. school. Increase 1,018,880—33 per cent.
Mr. P. Thompson said in the course of
debate, and of course had his temporary Tea.
triumph in consequence :1821..22,426,627 lbs.
“I will shew you how the consumption 1833.. 31,829,075
has increased, and how the comforts of the Increase 9,402,348–42 per cent. people have been augmented. I will shew
you how the people consume tobacco. You sequence of re-opening the Continent, which talk of the landlord being ruined, and the had been many years closed against all Brifarmer being bankrupt; I will shew you tish produce, and that of her colonies, an how they consume tobacco. In 1814, the immense export of sugar took place; the consumption of that article amounted to price was considerably raised, and consump15,273,000 lbs. ; in 1832, it was 20,235,000 tion fell off accordingly. The extent of the lbs.; thus exhibiting an increase of 31 per diminution may be inferred from the circent., although the population in the same cumstance that in 1814 the price was 1038. period had only increased 24 per cent. There per cwt., in 1832, 488. per cwt. is a proof of increased comfort.”
Taking the six years, however, ending Mr. M. Attwood answered, “In 1814, in with 1813, the average consumption was not consequence of interruptions in the supply 1,900,000, bnt 2,840,000; whilst the average from America, the price of tobacco was ad- consumption of six years, ending with 1831, vanced from 2d. to 1s. 2d. per lb., and was was 3,800,000,-an increase of less than 35 followed by a corresponding diminution of per cent., the population having meanwhile consumption—a consumption less than any increased 24 per cent. A great fall has graexisting in any year since 1798.
dually taken place in the price of sugar, 'What was the consumption for three years which of course has had a material effect in preceding 1814, before it was checked by the increasing its consumption. That fall howinterrupted supply? The average of those ever has been purchased by the destruction three years was 20,690,000 lbs. That of of the finest colony this country possesses, 1832 being only 20,235,000. So that less and the almost total ruin of the most poputobacco is now consumed, although there has lous mercantile interest existing.' been a 24 per cent, increase of population.' We leave our readers to ponder over these
This, we suppose, is one of Sir Robert facts, and the ingenious mode of dealing Peel's reasons for his assertion that the with them, of which the T. school seems to working classes are better off now than before have a monopoly—a monopoly of that unhis bill of 1819. Why! tobacco is the test usual description however, that no one is of all others we should select; food and anxious to share it with them. clothes must be had in some way or other : tobacco is their most popular luxury, and
agriculture. will be had the first penny they have to spare.
Speed the Plough.” Mr. P. Thompson went on to say, more tea has been consumed
FROM THE CIRCULAR TO BANKERS, 1814, only 19,224,000 lbs.
June 5th, 1835. 7 24 per cent. 1832,
35,548,000 lbs. 65 increase of Sirs,-Mr. Cayley's motion for a comper cent, increase.
Population. mittee of investigation concerning the cause Mr. Attwood replied that he took Great and remedy of agricultural distress ' having Britain alone in the first estimate, and in 1832 terminated in its rejection, we should not he took Great Britain and Ireland. But the have said a word upon the subject but for true history of the tea consumption at dif- certain imputations upon the motives and ferent periods is thus continued by Mr. A. intentions of the supporters of that motion, 1801-2-3, it averaged 24,000,000 lbs. in which were ascribed to them in the House Great Britain : 1832, 31,000,000 lbs. do. do. of Commons; and with more unscrupulous Increase 24 per cent. though the population hardihood by the partizans of the bullionists had increased 50 per cent.
out of the House. We find in the Times Mr. P. Thompson took sugar, and said the newspaper the following observation :consumption was in 1814, 1,900,000 lbs.; We believe nothing has given the intelli. in 1832, 3,600,000 lbs.
gent part of the public more disgust oflate days Mr. Attwood replied, 'that in 1814, in con. than the nature of the division, on Monday
night, on Mr. Cayley's motion respecting stringent and galling to the people by the the circulating medium. There have been Act of 1826, which caused the suppression instances certainly of tyrants debasing the of small notes in 1829. Now it is admitted coin of their subjects for purposes of indivi- on all hands, amongst others by Mr. Ricardo, dual advantage ; and other melancholy the oracle whose advice guided the Governcauses may have produced the same result ment and the Legislature in their measure of a depreciated circulation, such as a civil of 1819, and by the President of the Board war and public commotion for a succession of Trade, in the debate of Monday last, that of years. But that upwards of 120 country the two first of the above-mentioned Acts gentlemen, half of whom were county mem- were passed in error, and that their combers (for such are to be numbered in the bined operation has inflicted gross injustice minority on the division of which we are upon the people. Surely this admission speaking), should have calmly voted that the alone established solid ground for the House coin of this realm, the circulating medium of Commons to proceed upon, and one of the nation, should be debased for the would conclude that a sense of honour and supposed advantage of themselves and men propriety must suggest to the authors of in their station of life, is an act of such a this admitted injustice the necessity of revisnature that we must hope that those who ing their measures for the purpose of ascerhave been guilty of it will for ever be taining whether the whole inquiry resulting ashamed of their indiscretion, to use no from their error has been consummated, and harsher term.'
whether further mischievous and dangerous We would beg of any candid and dispas- consequences might not be prevented by insionate inquirer deliberately to consider vestigation. This appears to us a good reawhat is the case upon which imputations of son for demanding the deliberate considerathis nature have been put forth. A certain tion of the Legislature to the subject. act of parliament was passed in the year But there are reasons of much greater 1816, making gold, for the first time in the force to corroborate the application for inhistory of this country, the exclusive legal quiry. We allege that the measure of 1816 tender and standard of value, and that at a 1819—for the two Acts of Parliament must time when, from the diminished supply of be regarded as one measure in their opera. gold from the mines, its increased consump- tion and effects—was concocted in fraud. tion in manufactures, and the multiplied Admitting that fraud, in its offensive and criand the extended uses of commerce, gold at minal sense, cannot be justly charged against £3 178. 101d. the ounce had become es- the authors of the measure of 1819, we stilt sentially and abstractedly an unjust standard contend that the decision at which the Leof value. Practically, it never had been the gislature then arrived was obtained by false standard ; and the attempt to make it ex. representation and ex parte evidence; and elusively such, the attempt to raise the value we believe that in analagous cases courts of of money by such a method, and thereby law and equity would always presume fraud, increase the debts of all who owed money or the wilful suppression of the truth, by and all who paid taxes, at a time when the the party benefitted by an unjust decision on active, enterprising, and industrious classes such grounds. Now what are the facts in of the community were loaded with burden- this most important matter? It is universome public and private debts, was an act of sally admitted that gross error marked the fraud which has no parallel in history. This proceedings of 1819. It will be obvious that Act of 1816 was for a time a dead letter, a error, if nothing worse, must of necessity perfect nonentity, till the Act of 1819, com. have been the consequence of such a memonly called Peel's Bill, was passed, and thod of investigation as that pursued on that that gave it life and vigour. The operation memorable occasion. It may, we believe, of these two laws were made still more be asserted, with almost perfect accuracy,
that not one witness was examined, not one Sir Robert Peel having declared to him, imperson sat upon the Committee to adjudi- mediately before the passing of the Bill of cate in the report upon the evidence re. 1819, that if that measure were carried into ceived, whose personal interest was not execution it would double his fortune. Mr. likely to be promoted by the decision upon Ricardo admitted to the present member for which the Committee finally determined. Knaresborough, that he had committed a While such was the state of the case con- great error by recommending the change cerning all who concurred in the proceedings then effected; and can any man doubt that which led to the decision, evidence was de- the interest of Mr. Ricardo, who made half liberately refused to be taken by the Com- a million sterling by speculations in the mittee, when it was tendered by a person funds, was greatly promoted by the operation who proposed to prove the calamitous effects of his own plan? We ascribe no base mo. of the contemplated measures on the manu- tives to the distinguished men who brought factures and other industrious classes of the about the change in the currency and raised people ; the then Chancellor of the Exchequer the value of money; they might be entirely alleging, as a reason for such refusal, that mistaken, and under the delusion of the the Committee had already determined not to specious speculations of philosophy. But go into that part of the case.
how they can, with honour, reconcile the Laws are deduced from natural equity; admission of their error with an obstinate and so powerful is this principle, that when refusal to concur in any attempt to rectify administering the law, in all free communi- it, is to us incomprehensible. ties, the conduct of the judges is invariably The sort of chess-game arguments upon determined by it. If a decision has been which we have made these brief observa. made upon false grounds, if it can be clearly tions, are altogether unworthy of the grave shewn that one party applying to be heard and important subject which gave occasion has been wilfully or fraudulently excluded, to them. The question for Parliament to whilst the antagonist party had the fullest consider should be undertaken upon its opportunity of submitting what evidence he own intrinsic weight, without reference to pleased, if the case had been erroneously any supposed bias in the minds of different decided upon the ex parte evidence, there members who may take opposite views of can be no doubt that a new trial would be the subject. A great measure of public immediately granted, and a full and impar- policy was adopted which produced injurious tial consideration of the whole case would be consequences not contemplated by its auundertaken. If this be the rule in the ad- thors. Its operation caused extensive ruin ministration of law, is the opposite rule to in the West Indian interest, the East Indian prevail in the enactment of laws ? Is not interest, the shipping interest, and among the basis, in both instances, the same prin- all the great mercantile classes of the people. ciple of justice, which is absolute and un- It confiscated one half the property invested questionable in the administration of the in corn mills, tanneries, iron and lead mines, law in all legal proceedings of this country? and manufactories. Taking the entire pro
If base motives are to be attributed to the perty adventured in all these several purapplicants for a full and impartial considera- suits of industry at the time the Act of 1819 tion of this important question, are their was passed, we believe it would be quite opponents to escape with triumph ? Is there safe to assert that more than one-half of it nothing in the above mentioned facts which was made to change hands purely by the indicate that those who were concerned in operation of Peel's Bill. This we call a the decision of 1819 might possibly be confiscation, 'resulting from an erroneous swayed by considerations of self-interest ? and arbitrary enactment of the Legislature, À credible witness might now be sum- which, though passed in ignorance, was mnoned who would bear evidence of the late adhered to with pertinacious obstinacy after