Blackwood's Edinburgh Magazine, Vol. 71, No. 438, April 1852Various
History
Blackwood's Edinburgh Magazine, Vol. 71, No. 438, April 1852
Various
England -- Periodicals; Scotland -- Periodicals
That such delusions have been practised, and that very largely, we have
had frequent occasion to show. Dull statists like Mr Porter, shallow
political pretenders like Mr Cardwell, and unscrupulous compilers like
the Editor of the _Economist_, have done their utmost to persuade the
public that the proofs of national prosperity are to be found in certain
tables emanating periodically from the Board of Trade. For some time we
are inclined to believe that their efforts were rather successful than
otherwise. Most men have an antipathy to figures, and a fondness for
general results; and when they were joyously told that both the exports
and the imports of the nation were on the increase, they concluded that
all was right, and that the mercantile interest was advancing. We are
almost inclined to give the Whig Ministry credit for the same sincere
belief, at least up to the commencement of the Session of 1850. We do
this the more readily, because we feel convinced that none of them were
at all conversant with the real practical working of the commerce of
Great Britain. If we were to make an exception at all, it would be in
the case of Mr Labouchere; but this we shall not do, as ignorance is his
best excuse for the statement he made regarding the position of the
shipping interest in February of that year. After that period, however,
it is not uncharitable to suppose that the Whigs must have lost
confidence in the accuracy of their oracles. It might, undoubtedly, be
too much to expect that they should have denounced oracles so
perpetually delphic and comfortable to their cause, or that they should
not have availed themselves of their aid in repeating to the very last
the cuckoo cry of prosperity; but we must conclude that the Trade
Circulars were brought, occasionally at least, under the notice of Sir
Charles Wood; and surely no man, holding the office of Chancellor of Her
Majesty's Exchequer, could fail to perceive that there was something
manifestly inconsistent with the deductions which hitherto had been
drawn from the trade tables, in the uniformly lugubrious, and frequently
despairing tone of these valuable publications. The fact is that these
Trade Circulars are by far the most authentic documents we have for
ascertaining the real state of the country. They give us, from month to
month, an accurate account of our commercial position. They emanate
alike from Free-Trader and Protectionist--reveal the actual state of the
market, and the amount of demand and supply--and admit of no party
colouring, except as regards anticipation of the future--rather a
perilous commercial vaticination, as the result of each succeeding month
is expected to justify the prediction of the previous issue. For nearly
three years we have been unable to glean from these circulars a word of
actual comfort. They are uniform in their accounts of depression and
absolute want of profit in manufactures, and all of them confess that
the home trade is most miserably contracted.
Public-domain text, read in full here on John Shaqi.
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