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THREE:

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THREE:When Buonaparte, early in the morning of the 18th, mounted his horse to reconnoitre Wellington's position, he was rejoiced to observe so few troops; for many were hidden behind the height on which Wellington took his stand. One of his staff suggested that Wellington would be joined by Blucher; but so wholly ignorant was Napoleon of the settled plan of the two generals that he scouted the idea. "Blucher," he said, "is defeated. He cannot rally for three days. I have seventy-five thousand men: the English only fifty thousand. The town of Brussels awaits me with open arms. The English opposition waits but for my success to raise their heads. Then adieu subsidies and farewell coalition!" And, looking again at the small body of troops visible, he exclaimed, in exultation, "I have them there at last, these English!" General Foy, who had had ample experience of "these English" in Spain, said, "Wellington never shows his troops; but, if he be yonder, I must warn your majesty that the English infantry, in close fighting, is the very devil!" And Soult, who had felt the strength of that infantry too often, confirmed Foy's assertion.Sir Robert Peel then rose. He said that the immediate cause which had led to the dissolution of the Government was "that great and mysterious calamity which caused a lamentable failure in an article of food on which great numbers of the people in this part of the United Kingdom and still larger numbers in the sister kingdom depended mainly for their subsistence." But he added, "I will not assign to that cause too much weight. I will not withhold the homage which is due to the progress of reason, and to truth, by denying that my opinions on the subject of Protection have undergone a change." This announcement was received in profound silence from the Ministerial benches, but with triumphant cheering from the Opposition. Protection, he said, was not a labourer's question. High prices did not produce high wages, nor vice versa. In the last three years, with low prices and abundance of food, wages were comparatively high, and labour was in demand. In the three years preceding, with high[522] prices and scarcity, wages were low and employment was scarce. Experience thus proved that wages were ruled by abundance of capital and demand for labour, and did not vary with the price of provisions. Again, increased freedom of trade was favourable to the prosperity of our commerce. In three scarce and dear years, namely, from 1839 to 1841, our foreign exports fell off from ��53,000,000 in value to ��47,000,000. But in three years of reduction of duties and low prices, namely, from 1842 to 1844, the value of our exports rose from ��47,000,000 to ��58,000,000. Even deducting the amount of the China trade, a similar result was shown. Nor was the reduction in the customs duties unfavourable to the revenue. In 1842 there was an estimated loss of ��1,500,000; in 1843 a smaller one of ��273,000; but in 1845 there was a reduction at an estimated loss to the revenue of no less than ��2,500,000. The total amount of the various reductions effected in three years exceeded ��4,000,000; and many of the duties were totally abolished; the loss, therefore, not being compensated by any increased consumption. Had ��4,000,000 been lost to the revenue? He believed that on the 5th of April next the revenue would be found to be more buoyant than ever. Sir Robert Peel referred to other proofs of prosperity resulting from reduced import duties, and then adverted to his own position, and declared that "he would not hold office on a servile tenure."

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THREE:

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