Witnesses examined by Mr. Ricardo’s Committee: Mr. J. S. Lefevre, Mr. Macgregor, Mr. G. R. Porter—Their extreme views not conclusive to the Committee—Evidence adduced by the Shipowners—Ships built more cheaply abroad—Evidence of Mr. G. F. Young, and his general conclusions—Mr. Richmond’s evidence—Asserts that shipping is a losing trade—Replies to the charges against Shipowners—Views as to captains of merchant ships—Praises their nautical skill and capacity—His character of common seamen—Attacks Mr. Porter—Offers valuable details of ship-building—Is prepared to go all lengths in favour of Protection—His jealousy of the Northern Powers—Evidence of Mr. Braysher, Collector of Customs in London—General effect of the Navigation Laws on the Customs—With the Northern Ports and America—Difficulty about “manufactured” articles—Anomalies of the coasting and internal trade—Committee’s last meeting, July 17—General dissatisfaction with the results of the inquiry—Commercial panic and distress of 1847—Suspension of Bank Charter Act. CHAPTER VII. 161-190 New Parliament, November 18, 1847—Speech from Throne—Mr. Robinson and Shipowners deceived—Conversation between Mr. Bancroft and Lord Palmerston—Mr. Bancroft’s declaration—Official letter from Mr. Bancroft to Lord Palmerston, November 3, 1847—Lord Palmerston’s reply, November 17, practically giving prior information to the Americans—Lord Clarendon tells the Shipowners’ Society that the laws will not be altered, December 26, 1846; and repeats this assurance, March 15, 1847—Interview between Lord Palmerston and Mr. Bancroft, published in ‘Washington Union’—Excites great indignation when known in England, January 1848—Parliament re-assembles, February 3, 1848—Lord Palmerston admits the correspondence with America—The Earl of Hardwicke’s proposal, February 25, 1848—Earl Grey grants a Committee—Evidence of the Shipowners before the Lords’ Committee—Mr. Young proposes some modifications, the first concessions of the Anti-Repeal Party—Claim in favour of direct voyages—Government insists on Total Repeal—Detailed views of Admiral Sir George Byam Martin—Importance of keeping up the merchant navy—Arguments from his personal experience as to its value as a nursery for seamen—Working of the system of apprenticeship, and of impressment—Evidence of Admiral Berkeley, and of Mr. R. B. Minturn—Details about American ships—Reciprocity treaties so far as they affect Americans—Their whale fishery. CHAPTER VIII. 191-229