crown. He concluded his speech, with the following extraordinary expressions: "These are the principles to which I will adhere, and which I will maintain, and act up to, until the latest moment of my existence, whatever may be my situation in life -So help me God." Notwithstanding the absurdity of this speech, and its ridiculous inconsistency, with the moral character of the prince, it produced a strong sensation, throughout the country, and materially influenced the fate of the bill, which, although it passed the commons, was lost in the house of lords, by a vote of 178 to 130. A decision, so fatal to the hopes of the catholics, was brought about, by the unwearied efforts of the tory party. To Americans, accustomed to the blessings of religious freedom, it seems extraordinary, that the peace of Ireland, and the harmony and prosperity of the British kingdom, should continue to be jeoparded, by inveterate jealousy of the catholics, as dishonorable in itself, as it is pernicious in its consequences. Such was the undeserved fate of the catholic petitions from Ireland. No effective measures were taken, for the relief of that unhappy kingdom, although its distresses, continually breaking forth into disorders of every kind, demanded the speediest consideration. A committee of the house of lords was, indeed, appointed to inquire into the state of Ireland, generally, who reported a voluminous mass of evidence upon the subject; but nothing decisive grew out of the inquiry. A fruitless attempt was made in the house of commons, by Mr. S. Rice, to obtain copies of despatches from the lord lieutenant, concerning the origin, nature, and effects of religious animosities in that country. Mr. Hume, also, endeavored, in vain, to procure an examination of the possessions of the Irish protestant church. The propositions were negatived; but on motion of sir John Newport, an address to the king was voted, for the purpose of remedying abuses in the charter schools, in Ireland. But, while the friends of Ireland, failed in the great objects of their ambition-the effectual change of the political condition of its inhabitants,--their endeavor was not without its beneficial consequences. The opposition of lord Liverpool, of the duke of York, of Mr. Peel, and of the bigoted protestants in general, had produced a result, contrary to the wishes and conviction of the unprejudiced and reflecting, of whatever denomination, who now spoke but a single sentiment, and that strongly in favor of emancipation. In such a manifestation of the better feeling of the English people, and in the extended knowledge of their sufferings, and their rights, produced by the discussion, the Irish felt re warded, in some slight measure, for their patriotic exertions. We pass from this topic to the acts of the session, respecting the finance and trade of the kingdom. The chancellor of the exchequer, in his exposition of the state of the finances, calculated the whole produce of 1825, would be 56,445,3701., and the expenditure less than the receipts by half a million; leaving five and half millions appropriated for the sinking fund. He proposed to apply the surplus revenue to three objects; the first was to extend commerce, by facilitating the consumption of foreign produce in the country; another, to increase the means of checking contraband trade; and lastly, the remission of a portion of direct taxes. He therefore proposed, for the attainment of the first object, a reduction in the duties on hemp, coffee, and wine, estimated at 480,000l.; and to prevent smuggling, he proposed to admit whiskey from the British colonial possessions. Motions for the repeal of sundry direct taxes were negatived, however, by the commons. Connected with this subject, are the acts effecting commerce, passed at the suggestion of the ministry. Mr. Huskisson resisted a motion for the modification of the laws, excluding foreign grain; but he proposed, in accordance with the plans which he had adopted, some alteration in the colonial policy and in the system of protecting duties, designed for the relief and assistance of the shipping interest. His improvements in the colonial policy were several in number, and all carried into effect with scarcely any modification. One of them was directed against the United States immediately; and has acquired great importance by reason of subsequent measures of the two countries, as we have already mentioned in the introductory chapter. An act existed, of limited application in respect of the commodities to which it attached, authorising intercourse between any countries in America, and the British colonies there, in the ships of those countries, or in British ships, provided the intercourse between the foreign country and the colony, was direct. The act farther permitted a direct trade in British bottoms, from the colonies to foreign ports in Europe. It was considered that the provisions of this act, in favor of foreign shipping, were chiefly beneficial to the United States, which alone possessed a large commercial marine. In obedience to the system of reciprocity, which the United States uniformly have acted upon, deavored to make universal, congress enacted a law imposing an alien duty upon British vessels trading between American ports and British colonies, to be levied until the productions of the United States should be admitted in the colonies and en on the same footing with the productions of all other countries which was not then, and is not now the case. This principle, so plainly implied in the system of reciprocity, Mr. Huskisson stigmatized as unheard of in the commercial relations of independent states. The British government he said, as a measure of retaliation, had imposed like duties on American shipping in like circumstances; and he proposed to open the colonial ports to the ships of all foreign countries, for trade in the production of those countries and the colonies; reserving to British shipping exclusively the trade between the respective colonies themselves, or between those colonies and the mother-country, whether the intercourse was direct or circuitous. The foregoing, was not the only occasion during this session in which might be remarked a growing jealousy of the commercial prosperity of the United States. An additional measure of public policy, having indirectly an important bearing on this country, was the extension of the ware-housing system to the colonies. Great Britain was well aware of the value of the South American trade; and of the advantages in relation to it, which we derived from our proximity to the new states. She, therefore, speedily followed up our recognition of their independence, by a similar act, in the apprehension. that otherwise we should acquire possession of exclusive commercial privileges in the Spanish American ports. Farther to rival us therein, Mr. Huskisson proposed to allow merchandize from all parts of the world to be entered in the colonies, bonded, and deposited in warehouses without payment of duty; until proper opportunities should occur to sell, or export it to advantage. From these measures, he anticipated the establishment of a new course of trade in the colonies; and incidently an increase in the value of property therein, and improvements in the moral condition, comfort and security, of the inhabitants. In addition to this, provision was made for the free importation of corn from Canada, subject to a duty of 5 per cent., for the space of two years. Mr. Huskisson had already, on several occasions, declared his intention to qualify, as the state of the kingdom would permit, the duties imposed on various articles, for protecting manufactures and other branches of domestic industry. He proposed a small reduction in the duty upon cottons, woollens, glass, books, metals, and sundry manufactured articles, which was accordingly made. But it is observable that, in making these reductions, Mr. Huskisson was sedulous to keep within such limits as to leave the staple manufactures untouched. The British process to be convert ed to the principles of free trade; but in no instance do they leave room for the foreign producer, to bring his goods to market at such a price, as to compete with their domestic industry. These changes in policy, were therefore greater in name, than in substance. Accompanying these measures, were some for the encouragement of navigation, operating upon that exclusively; such as repealing the duty on the transfer of vessels; paying all British consuls, by a fixed salary, in lieu of fees; the abolishment of quarantine duties; and others, which it is sufficient to allude to, thus generally. Among the important public acts of the session, we may mention the law against combinations to produce any change in the rate of wages, by threats, coercion, violence, or any thing in the nature of intimidation; the law protecting an innocent bailee, or purchaser, in contracts with an agent, not duly authorised; and the acts consolidating the laws relating to juries, and bankruptcies, introduced as part of a design entertained by Mr. Peel, for the gradual consolidation of the laws. A bill allowing Unitarians to be married by clergymen of their own persuasion,-a privilege most reasonable in itself, and long enjoyed by some sects of dissenters, was rejected, as was a bill for the repeal of the usury laws. Some discussion took place in respect to the court of chancery; the abuses of which, arising either from the nature of its proceedings, the personal character of the lord chancellor, the great variety and complication of his functions, or all these, and other causes combined, constituted the sorest grievance in the judicial administration of the kingdom. But the friends of lord Eldon would not consent to any change in the law; until the commission on the subject, appointed in 1824, should make its report. Finally, a law was passed, for fixing the salaries of the judges; giving to the chief justice of the king's bench, a salary of 10,0001; to the chief baron, 7,0007; to the chief justice of the common pleas, 8,0001; and to each of the puisne 5,5002; justices and barons, together with a suitable retiring pension. We have now passed in review, the material proceedings of parliament, of a public or political nature. But its attention was by no means occupied by these subjects alone. The cheapness of credit, and the great quantity of capital, seeking investment, at this period, caused the applications for private acts, to be uncommonly numerous. less than two hundred and eightysix were actually passed. Twentysix petitions for rail-ways, were presented; and it was calculated, No that all the rail-roads in contempla- mercial privileges, in the ports of tion, if constructed, would consume iron to the value of twentyeight millions. We mention this fact, to show the excess of the spirit of speculation, to which we have already referred, and whose pernicious effects we shall have cause again to notice, in the sequel. The session closed the 6th of July. Early in the autumn of this year, the king issued a proclamation, prohibiting any of his subjects from taking part in the contest between Greece and Turkey; from fitting out ships, or exporting munitions of war, for the assistance of Greece. The foreign relations of England, during the year 1825,offer but little to attract our notice. Several treaties were concluded, however, of which a brief account may be relevant. The first, was a treaty with Russia, dated February 28th, relative to the trade of the two countries on the northwest coast of America. It stipulated for the common right of the ships of the two nations, to navigate, and take fish, in all the waters of the Pacific ocean; established the line of demarkation between their respective possessions; and gave to each party, the benefit of traffic with the natives. A treaty was concluded with the Hanse Towns, September 20th, conferring on the ships and productions of each state, equal com the other. During the same year, treaties of amity, commerce, and navigation, were concluded, between Great Britain, and the American states of Brazil, Colombia, and Buenos Ayres. Besides these, there was a separate treaty made with Brazil, providing for the abolition of the slave trade from Brazil, in four years after the exchange of ratifications of the treaty; and declaring slave trade, in the vessels of either country, subsequent to that time, to be piracy. one At was During the last month of 1825, a panic in the money market, caused the failure of several respectable banking houses in London, and a great number in the country. time, Lombard-street nearly filled with persons, hastening to draw their money from different banks, or anxious to learn the fate of commercial houses. Bankers had been induced, by the cheapness of credit, and low rate of interest, in 1824, and the beginning of 1825, to invest their funds in securities, which could not be readily converted into cash. Of course, when a run upon them came, some, even, although perfectly solvent, were compelled to stop payment, from the impossibility of instantly raising sufficient money to meet the pressing demands of their creditors. The distress very soon subsided |