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
[Sidenote: Shipowners demand the enforcement on foreign nations of
reciprocity.]
As regarded non-reciprocity on the part of foreign nations, they had
little expectation that any relief could be obtained. Every State
that had anything worth acceptance in the way of reciprocation had,
they were convinced, determined on adhering to a Protective policy;
and, though the retaliatory clause in the Navigation Act might afford
some power of compulsion, the Shipowners saw from the discussions
in Parliament that it was vain to hope that such powers would ever
actually be put in force. Nevertheless, under such gloomy political
prospects, every effort was made by the central body of the Shipowners’
Association in London to impress their views upon the representatives
of the maritime towns in Parliament. The outports were urged to secure
the return of members who would support a policy opposed to that of
the indiscriminate abolition of all Protective laws. The feeling thus
provoked exercised its influence during many succeeding years. They
who had the moral courage to advocate more enlightened principles were
made the victims of the exasperated Shipowners, and a good many members
lost their seats at the general election of 1852 because they could
not, conscientiously, support any measure restoring Protection to the
Shipowners, even in the modified form they now desired, the general
enforcement of the reciprocity on other nations.
[Sidenote: Return of prosperity to the Shipowners.]
Happily, however, for the Shipowners, the demand for their vessels
soon rose; and, though some of them may have severely suffered for the
first twelve months after the repeal of the Navigation Laws, they soon
recovered their losses, and their course ever since has been, apart
from the usual fluctuations in all branches of commerce, one of almost
continued prosperity. Mr. Thomas Tooke, in his well-known work,[135]
speaking of the annual state of trade at the close of 1853, states,
that the most satisfactory accounts of the year’s business were those
connected with shipping. Indeed, 1852, as well as 1853, were years of
prosperity to every class of persons connected with ships.
Public-domain text, read in full here on John Shaqi.
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