COMMERCE AND INDUSTRY.
The commercial condition of Great Britain throughout the year was favourable. The railway speculations of previous years exercised a prejudicial influence upon the money market, and “calls” were severely felt; but the foreign commerce of the country increased rapidly, and the revenue was in a state which tended to preserve public confidence, and showed that the resources of the nation were unimpaired notwithstanding so many recent calamities. Free trade began already largely to tell upon the great interests which it affected, and justified its advocates and promoters.
The farming interest was, however, distressed; free trade in corn had deranged their habits, and rendered alterations necessary in their customary procedure as to the landowners, their farms, and the markets which they were reluctant to adopt. The landlords were unwilling to concede lower rents, and kept up those which were brought about by war prices during the great struggle with France. Hence a protectionist agitation pervaded the country, unsettling the minds of the farmers, inspiring false hopes, irritating the trading classes, producing counter agitation, and by all these means inflicting injury upon the country.