(59.) _Removal of the Restrictions on Foreign Wool._--The importation of wool was, by these reductions, speedily increased, and with it the consumption of our woollens by foreign nations. The wool of our own gradually augmented flocks being inadequate to the demand, and that of Spain having been absorbed by our manufactories, large quantities were imported from Prussia, Saxony, and many parts of the continent of Europe, from which, antecedent to this run, little had been drawn. The average annual import of wool during 1765-66-67 was 4,241,364 pounds--the average annual export of woollens during the same period was £4,630,384; while the average annual import of wool for the years 1822-23-24 was 18,884,876 pounds, and the average annual export of woollens during the same time, amounted to £6,200,548, showing that the importation of foreign wool was absolutely necessary for the well-being of our manufactures. The importation of forty-four millions of pounds weight, in the year ending 5th January, 1826, must be ascribed as much to the spirit of over-trading, which then affected every branch of industry, as to the reduction of the duty; but the large importations during 1827, afforded an additional proof of the necessity of foreign wool to the successful formation of a most important article of commerce. Mr Gott of Leeds, in his evidence before the Lords' Committee, on being asked if he could carry on to the same extent as at present, if he manufactured his cloth of British wool, replied, that, in certain descriptions of cloth, "_he could not make an article that would be merchantable at all for the foreign market, or even for the home market, except of foreign wool_." He then proceeds to state, that though the competition is very strong in every department of the manufacture, yet that foreigners are decidedly superior to us in some description of low cloths. The following question was then put, and plainly and emphatically answered:--"Speaking of the finer cloths, is the competition such as to render an additional duty on the importation of foreign wool likely to injure the export trade? _I have no doubt, speaking on my oath, that it would be fatal to the foreign cloth trade of the country. I would further say, that it would be equally injurious to coarse manufactures of all kinds made of English wool._ The competition now with foreigners is as nearly balanced as possible, and the disturbing operation of attacks of that description would necessarily enable the foreigner to buy his wool cheaper than we should do it in this country; the result would be, that foreigners would, by such a premium, be enabled to extend their manufactures to the exclusion of British manufactures of all descriptions." In another part of his evidence Mr Gott says, "If two pieces of cloth at 10s. a-yard were put before a customer, one made of British wool, the other of foreign wool; one would be sold, and the other would remain on hand; I could not execute an order with it.