MR YOUNG.--Perhaps you will not deem me unreasonable if I advert to one or two remarks which have just fallen from your lordship. In the first place, your lordship says it will not be wise again to return to a system of protection and restriction. I can speak especially for the interest to which I belong--and being almost altogether unconnected with the landed interest, I could have wished some of the gentlemen whom I see around me stood in the position in which I have been unexpectedly placed; but I can speak especially for the shipping interest, and I believe I may also for the agricultural interest, when I say that they do not seek, that they do not desire, a system of prohibition. If you refer to the expressions which are contained in that memorial, you will find that all they ask is a just and equitable system of import duties. We do not presume to dictate the degree which would constitute justice; but we believe that, if the principle were once acknowledged, there would be no difficulty in placing the details upon such a basis as to give satisfaction to all parties. The next point upon which I would venture to offer one word by way of explanation, and as the expression of that which I know to be the universal sentiment of this deputation, is, that although, after the enactment of the changes of 1846, namely, in 1847, a general election did take place, yet your lordship will recollect that which is imprinted upon the mind of the country at large, that that election took place under circumstances which had shattered to pieces all parties in the state, and had placed the constituencies in such a position that, as we think, the election of 1847 was not a fair exponent of the sentiments and opinions which were entertained by the people at large. MR GUTHRIE.--Your lordship has expressed it as your opinion that it was unwise to reject the proposition which you made in 1841, for imposing a fixed duty of 8s. per quarter on wheat. Now, supposing your lordship acted wisely in proposing that measure, and the other party unwisely in rejecting it, if the other party should come round to your lordship's former opinion upon that subject, allow me to ask if you think it would be wrong, in 1850, to revert to the proposal which you deemed to be so perfectly right in 1841. LORD J. RUSSELL.--I can easily answer that question. Without going into other considerations, supposing the price of corn to be at that time 58s., a law that would reduce the average to 50s. would be well taken; whereas, if the price were 42s., the law which would raise it from 42s. to 50s. would be ill taken.