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
[35] This difference reached its climax in 1845, when Lord Grey wished
to exclude Lord Palmerston from the Foreign Office, and Lord Russell
insisted on his being nominated for that department.
[36] The exports of Great Britain rose from 47,000,000_l._ in 1842
to 60,000,000_l._ in 1845, and the imports from 65,000,000_l._ to
85,000,000_l._, and, in the same period, the entries of British
mercantile shipping rose from 4,627,440 tons to 6,031,557 tons. (See
Porter’s ‘Progress of the Nation.’)
CHAPTER IV.
Lord John Russell’s first steps as Prime Minister: the
Equalization of the Sugar Duties—He suspends the Navigation
Laws, January 1847—Mr. Ricardo’s motion, February 1847—Reply of
Mr. Liddell—Mr. Ricardo’s motion carried—Committee appointed,
February 1847—Meeting of the shipowners, August 12, 1847—Their
arguments—What constitutes “British ships”—State of Navigation
Laws in 1847—Rules in force in the Plantation Trade—Their
rigorous character—Their history from 1660 to 1847—First
infringement of the principle of confining the American trade to
British vessels—Absurdity and impotency of these laws—State of
the law before the Declaration of American Independence—Trade
with Europe—Modifications of the law—East India Trade and
shipping—Trade with India in foreign and in United States ships
even from English ports—Coasting trade—Summary of the Navigation
Laws.
[Sidenote: Lord John Russell’s first steps as Prime Minister: the
Equalization of the Sugar Duties.]
[Sidenote: Suspends the Navigation Laws, January 1847.]
The first measure introduced by Lord John Russell, when he succeeded
Sir Robert Peel as Prime Minister,—the equalization of the Sugar
Duties—was one almost as important to the interests of merchant
shipping as the repeal of the Corn Laws. A change so great, affecting,
indirectly, the general as well as the fiscal policy of the empire,
was even more remarkable than the abolition of the Corn Laws. It was
strenuously opposed by the Protectionist party, but Sir Robert Peel,
having given his support to Government, the Bill was carried by a large
majority. This measure in itself afforded much additional employment
to shipping; and in the course of the debate upon it, Lord John Russell
made the memorable declaration that he “did not propose in any respect
to alter the existing Navigation Laws.”[37] He was, however, obliged
immediately afterwards to suspend the operation of these Laws till
the 1st September following, so as to facilitate the importation of
grain and flour. Indeed, some such measure was absolutely necessary,
as the crops of Germany and France had in many instances failed, and
the French Government had also been compelled to suspend for a time
their Navigation Laws, in order to obtain supplies of food from other
countries.
Public-domain text, read in full here on John Shaqi.
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