ONE:The Government and Parliament which, with so lavish a hand, had enabled the Continental monarchs to fight their battles, which had spent above two thousand millions of money in these wars, of which eight hundred millions remained as a perpetual debt, with the perpetual necessity of twenty-eight millions of taxation annually to discharge the interestthat burden on posterity which Napoleon had, with such satisfaction, at St. Helena, pronounced permanentthis same Government and Parliament, seeing the war concluded, were in great haste to stave off the effects of this burden from the landed aristocracy, the party which had incurred it, and to lay it upon the people. They saw that the ports of the world, once more open to us, would, in exchange for our manufactures, send us abundance of corn; and, that the rents might remain during peace at the enormous rate to which war prices had raised them, they must keep out this foreign corn. True, this exclusion of foreign corn must raise the cost of living to the vast labouring population to a ruinous degree, and threatened fearful convulsions from starving people in the manufacturing districts; but these considerations had no weight with the land-holding Government and its Parliamentary majority. In 1814 they were in haste to pass a Corn Law excluding all corn except at famine prices; but the lateness of the season, and an inundation of petitions against it, put it off for that Session. But in 1815 it was introduced again and carried by a large majority. By this all corn from abroad was excluded, except when the price was eighty shillings per quarter. By this law it was decreed that the people who fought the battles of the world, and who would bear the bulk of the weight of taxation created by these wars, were never, so long as this law continued, to eat corn at less than four pounds per quarter. This was, in fact, not only a prohibition of cheap bread, but a prohibition of the sale of the labours of the people to foreign nations to the same extent. It was an enactment to destroy the manufacturing interest for the imagined benefit of land-owners; and it was done on this plea, as stated by Mr. Western, one of the leading advocates of the Bill"That, if there is a small deficiency of supply, the price will rise in a ratio far beyond any proportion of such deficiency: the effect, indeed, is almost incalculable. So, likewise, in a surplus of supply beyond demand, the price will fall in a ratio exceeding almost tenfold the amount of such surplus." The avowed object, therefore, was to prevent the manufacturing population from reaping the benefit of that Continental peace which they had purchased at such a cost, and consequently to repress the growth of their trade to the same degree. Mr. Tooke, in his "History of Prices," confirms this view of the matter, asserting that "the price of corn in this country has risen from one hundred to two hundred per cent., and upwards, when the utmost computed deficiency of the crops has not been more than between one-sixth and one-third below an average, and when that deficiency has been relieved by foreign supplies." Mr. Western candidly showed that, to the farmer, years of deficiency were the most profitable, from this principle of enormous rise from a small cause; that if the produce of an acre of wheat in a good year is thirty-three bushels at six shillings, the amount realised would be only nine pounds eighteen shillings; but, if the produce were reduced by an unfavourable season one-sixth, and the price raised from six shillings to twelve shillings, the produce of twenty-seven and a half bushels would realise sixteen pounds ten shillings, the difference being profit!Before the close of April a great commercial crisis had taken place in England, and Ministers were compelled to make a new issue, by consent of Parliament, of five millions of Exchequer Bills, to assist merchants and manufacturers, under proper security. The sudden expansion of industry which was met by an undue increase of the paper currency rather than bullion, combined[417] with reckless banking, produced the crisis. It was calculated that out of the 350 provincial banks 100 failed. In the circumstances the issue of Exchange Bills was a most successful makeshift.
ONE:WILLIAM PITT. (After the Portrait by John Hoppner, R.A.)Further correspondence on the subject did not heal the wound that had been inflicted on the pride of the Spanish Government, but rather inflamed it; and on the 19th of May the British ambassador received a peremptory order to quit the kingdom within forty-eight hours. In dismissing him, the Duke de Sotomayor administered to him a very sharp rebuke. "Your conduct," he said, "in the execution of your important mission has been reprobated by public opinion in England, censured by the British press, and condemned in the British Parliament. Her Catholic Majesty's Government cannot defend it when that of her Britannic Majesty has not done so." Sir Henry Bulwer accordingly departed, Mr. Otway, the principal attach, remaining to transact any necessary business connected with the embassy. Diplomatic relations were not renewed for some time, and, it must be admitted, that the insult that had been offered to England was in a great measure provoked.
ONE:The second reading was moved on the 14th by Lord Althorp, the Chancellor of the Exchequer. Lord Porchester moved that the Bill be read a second time that day six months. His motion was supported by Sir Edward Sugden. Sir Robert Peel had taunted the Government with inconsistency in adopting alterations, every one of which they had resisted when proposed by the Opposition. Mr. Macaulay retaliated with powerful effect, with respect to the conduct of the Tories on the question of Catholic Emancipation. On a division the numbers were, for the second reading, 324; against it, 162majority, 162. The House of Commons having thus carried the Reform[347] measure a third time by an increased majority, which was now two to one, the House was adjourned to the 17th of January, when it resumed its sittings. On the 19th of that month the Irish Reform Bill was brought in by Mr. Stanley, and the Scottish Bill by the Lord Advocate. On the 20th the House resolved itself into a committee on the English Bill, and continued to discuss it daily, clause by clause, and word by word, pertinaciously and bitterly wrangling over each, till the 10th of March, when the committee reported. The third reading was moved on the 19th, when the last, and not the least violent, of the debates took place. The Bill was passed on the 23rd by a majority of 116, the numbers being 355 and 239.
