brisk demand for lean cattle to go to the straw-yards. On the other hand, cattle for fatting were somewhat depressed about the beginning of winter, from an expected deficiency of the turnip crop. The state of the weather in May and June, when the land was under preparation for turnip, had been very unfavourable; and this crop, therefore, was likely to form perhaps the only exception to the general abundance.

Petitions from the occupiers of land, complaining of distress, and praying for relief, which began to be presented early last year, poured into Parliament during the session of the present, from all parts of the country. It was impossible to deny, that, owing to the fall of prices, the situation of many of the petitioners had become exceedingly distressing. They had entered into contracts for time, under an impression that the average prices of the twenty years preceding would be supported, whereas prices were now onethird lower, and still sinking. With out any fault of their own, they found their hard-earned, and in general very moderate capitals, fast melting away, and saw nothing before them but utter ruin at no distant period. At last, on 30th May, it was carried in the House

of Commons, by a majority of 49 (the numbers being 150 to 101,) to refer these petitions to a Select Committee. On this occasion, ministers were in the minority, and they seem to have suddenly adopted the resolution of ren. dering this unexpected vote almost nugatory; for a much fuller House having been procured the day following, to which the debate on the appointment of the Committee was adjourned, it was moved by Mr Robinson, that the inquiries of the Committee should be limited to the mode of taking the averages which regulate the importation of foreign corn; and this was carried by a majority of 143. The Committee, in their Report, which was presented to the House on the 8th July, point out in a very striking manner the errors and defects of the present system on this head; and the means by which the ports were opened to oats a few weeks after, afforded a practical illustration of the statements of the Report. But the session being too far advanced to found any enactment upon the recommendations of the Committee, Mr Robinson expressed his intention of proposing some new regulations on the subject in the following

year.

THE present year formed a very distressful epoch, in regard to all the branches of manufacturing and commercial industry. A general failure of demand was felt both at home and abroad, in all the branches of national industry. A large diminution, by a necessary consequence, took place in their produce; and the labourers em

VOL. XIII. PART II.

ployed were either dismissed, or forced to work for wages which with difficulty afforded a bare subsistence. It was almost an aggravation of this straitened and distressed state of those engaged in active employments, that money was seen overflowing in the coffers of the capitalist, who sought in vain a vent by which it could be disposed of to ad

2 E

The deficiency in the great staple of the cotton manufacture was, we believe, still more extensive.

The aggregate value of goods (the produce of the East Indies and China) imported from the East Indies, was in 1818, 8,693,0637.; in 1819, 7,832,9651.; and exported, in 1818, 3,990,100%.; in 1819, 3,600,4337. The aggregate value of goods imported from China, was, in 1818, 3,598,3917.; in 1819, 4,256,9517.; and exported, in 1818, 862,4027.; in 1819,

In Pieces.

81,675

In Yards.

2,672,102

791,978. Total value of India and China Imports, in 1818, 12,291,45ł; in 1819, 12,089,9167.; and exports, in 1818, 4,852,512.; in 1819, 4,392,4117. The total value of exports from Great Britain to the East Indies and China, in 1818, 6,289,5271; in 1819, 2,953,8167.

The following regulations were pub lished at Batavia; where all the preexisting laws and ordinances relative to the subject were abrogated.

1. All vessels coming from Europe,

America, or any possessions of the European powers in Asia and Africa, are to enter only the port of Batavia. The said vessels are to make their declaration of entry and discharge at Batavia, unless for particular reasons, a permit has been granted them from the Superior Regency, to discharge and make declaration at Samarang, or at Sourahayd.

2. Vessels departing for Europe, America, or any possessions of European powers in Asia or Africa, may, at their option, make their declaration of departure at Batavia, Samarang, or Sourahayd, provided they have taken their entire lading in any of these three places.

3. No vessel designated in articles 1 and 2 will be allowed to touch at any other port or place in the islands of Java or Madura, and much less to load or unload any kind of merchandize or other articles, without a special permit from the Superior Regency.

4. Vessels under the denomination of Chineesche Jonken are admitted only at Batavia.

5. All vessels belonging to inhabitants of Java or Madura, or any other parts in the Oriental Seas under the Belsic authority, as also all vessels belonging to places of Indian people and princes in alliance with the Batavian Regency, may enter and quit all the ports of Java and Madura, conforming to the existing regulations and ordinances. If these vessels depart for Europe, America, &c. like all others, they will be subject to articles 1, 2, and 3.

Notwithstanding the existing depression of commerce, the Leipsic fair was well attended, and considerable quantities of goods were sold. Among the rest, English cotton yarns and calicoes met with purchasers; and it was observed, that our " japanned wares preserved their superiority over those

of Germany." These circumstances tended to strengthen that jealousy of British superiority which had been long prevalent on the continent, and particularly in Germany; and notes were said to have been presented to the Diet of the Empire, demanding a monopoly of the German market. Considerable efforts were indeed made, particularly by the smaller states, to establish the liberty of commerce in the interior of Germany; but though the general principles of the measure were approved by the Diet, yet through the dilatory measures of that body, these proceedings did not come to any decisive result.

In Britain itself, a much happier revolution of public sentiment took place. Her leading mercantile characters became fully impressed with the principle which had long since been proved by the best writers on the subject, that the system of prohibition against the import of foreign rival manufactures, was founded altogether upon an erroneous policy, and was productive of real injury to themselves. The merchants of London, in a petition presented to the House of Commons, avowed these principles in the most unqualified manner. It is here observed, that "freedom from restraint is calculated to give the utmost extension to foreign trade, and the best direction to the capital and industry of the country"-"that of the numerous protective and prohibitory duties of our commercial code, it may be proved, that while all operate as a very heavy tax on the community at large, very few are of any ultimate benefit to the classes in whose favour they were originally instituted, and none to the extent of the loss occasioned by them to other classes"-that a declaration

against the anti-commercial principles of our restrictive system is of the more importance at the present juncture,

inasmuch as, in several instances of recent occurrence, the merchants and manufacturers in foreign states have assailed their respective governments with applications for further protective or prohibitory duties and regulations, urging the example and authority of this country, against which they are almost exclusively directed, as a sanction for the policy of such measures" -" and that nothing would tend to counteract more the commercial hostility of other states, than the adoption of a more enlightened and conciliatory policy on the part of this country." A similar petition was presented by the Directors of the Chamber of Commerce at Glasgow, and enforced by arguments equally judicious. They observed, "that the division of employments among countries, according to the different natural advantages they respectively possess, is upon the same principle, and attended with the like beneficial consequence, that follows the division of labour in the processes of industry among individuals, the powers of each country being increased thereby, and each individual's share in the products augmented—that a nation attempting to manufacture, or

raise within itself, every thing which it is to consume, acts in direct contradiction to this principle, and against its best interests"-that the principle of exclusion once admitted must apply equally to the different districts of which a country is composed; yet the inhabitants of Lancashire and Lanarkshire, though engaged in the same manufacture, found their interest in exchanging their commodities with each other-that this principle, recognized so fully by these rival districts, applies, with no less undeniable effect, to the general commerce between nations; and they concluded with expressing their conviction, that the question will not so much lie with regard to the wisdom of abandoning the restrictive system, as with respect to the means by which our steps from it may be safely retraced-how we are to return to the sound and beneficial principles of trade, with the least possible injury to individuals.

These views have not been without some influence on the national councils; the extent of which will be seen in the report of parliamentary proceed. ings.

Origina Shares of £

Div. per Annum. £ $.

Current Price per Share. £ 3.

0 0

550 0

100 0

90 0