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THREE:THE ATTACK ON THE "VILLE DE PARIS." (See p. 292.)The debate on Mr. Villiers's annual motion, on June 10, produced still further evidences of the decline of Protectionist principles. On that occasion Sir James Graham, who was currently believed to be better acquainted with the feelings of the Premier than any other of the Ministers, said, "He would not deny that it was his opinion, that by a gradual and cautious policy it was expedient to bring our system of Corn Laws into a nearer approximation to those wholesome principles which governed legislation with respect to other industrial departments. But it was his conviction that suddenly and at once to throw open the trade in corn would be inconsistent with the well-being of the community, and would give such a shock to the agricultural interest as would throw many other interests into a state of convulsion. The object of every Government, without distinction of party, for the last twenty years, had been to substitute protecting duties for prohibitory duties, and to reduce gradually protecting duties, where it had them to deal with. He approved of this as a safe principle, and showed that it was the keystone of the policy of Sir Robert Peel.... If they could show him that Free Trade with open ports would produce a more abundant supply to the labourer, they would make him [Sir James] a convert to the doctrine of Free Trade in corn. He confessed that he placed no value on the fixed duty of four shillings lately proposed; it would be of no avail as a protection, whilst it would be liable to all the obloquy of a protecting duty; and he therefore thought that if they got rid of the present Corn Law, they had better assent to a total repeal." Sir Robert Peel spoke more cautiously; but he began by striking away a favourite maxim of his party, in observing that experience proved that the high price of corn was not accompanied by a high rate of wages, and that wages did not vary with the price of corn. He said that he "must proceed, in pursuance of his own policy, to reconcile the gradual approach of our legislation to sound principle on this subject, with the interests which had grown up under a different state of things;" but he admitted that it would be "impossible to maintain any law on the ground that it was intended to keep up rents."

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