History of merchant shipping and ancient commerce, Volume 3 (of 4)Lindsay, W. S. (William Schaw)
History
History of merchant shipping and ancient commerce, Volume 3 (of 4)
Lindsay, W. S. (William Schaw)
Commerce -- History; Shipping -- History; Steam navigation -- History
In spite of the want of success (and they received but scanty
support) Ministers met in their applications to foreign countries for
reciprocity, they resolutely persevered in their policy, resting for
their chief support almost wholly on the Free-trade party in the House
of Commons. The principles of Free-trade had become the established
and predominant policy of the nation, and navigation alone was the
exceptional branch which, until then, had successfully resisted
innovation.
[Sidenote: Progress of Free-trade views.]
It was very remarkable, that in the celebrated Petition of the London
merchants to the House of Commons, so far back as 1820,[102] from
which the Free-trade movement may be dated, no mention is made of the
Navigation Laws. Mr. Tooke, who drew the petition, directed chiefly
attention to the then unacknowledged fact that freedom from restraint
was calculated to give the utmost extension to foreign trade, and the
best direction to the capital and industry of the country. That the
maxim of buying in the cheapest market and selling in the dearest, the
rule of every merchant in his individual dealings, was as strictly
applicable to the trade of the nation; but had Mr. Tooke at that time
hinted anything about navigation, or the abrogation of the existing
Navigation Laws, he would have exposed himself almost to personal
danger. The success, however, of the Free-trade measures which had
been adopted since 1842 had totally changed the current of public
opinion, and it was now only the shipowners, and the still powerful
Protectionist party in Parliament, which resisted this last crowning
measure of Free-trade. The opposition of the shipowners arose from a
deep-seated conviction that utter and inevitable ruin to their class
would result from the abrogation of the Navigation Laws.
[Sidenote: Parliament of 1849.]
Parliament assembled on the 2nd of February, 1849. The commercial and
manufacturing interests were rallying, but had not as yet effectually
revived from the prostration occasioned by the commercial crisis of
1847, and the general want of confidence resulting from the shock of
the foreign revolutions in 1848. The shipping trade was in a state
of transition, as it was not until some time later that the gold
discoveries in Australia gave a fresh impulse to the “long voyage”
trade, and that towards a region of the globe which promised but a
slow, however certain, future development of wealth and navigation. The
shipowners were, in fact, still suffering a periodical depression of
trade after two or three very prosperous years.
In the Speech from the Throne delivered by her Majesty in person, she
said: “I again commend to your attention the restrictions imposed on
commerce by the Navigation Laws. If you shall find that these laws are,
in whole or in part, unnecessary for the maintenance of our maritime
power while they fetter trade and industry, you will no doubt deem it
right to repeal or modify their provisions.”
Public-domain text, read in full here on John Shaqi.
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