STATE OF THE COUNTRY.
A.D. 1843
AT the opening of this year the aspect of public affairs was such as to create disquietude and anxiety. In every branch of trade and industry there was great depression, which was by some attributed to the workings of the new tariff, and by others to a groundless panic occasioned by that measure. Whatever it arose from it certainly existed; and the fact of its existence was clearly proved by the diminished consumption of those articles which contribute in so large a proportion to the public revenue. The total decrease in the excise, stamps, customs, and taxes on the quarter was £1,379,057, which was equivalent to a total yearly deficiency of £5,516,222. The distress which prevailed naturally give rise to various opinions as to the remedies to be applied. Some suggested and advocated the repeal of the corn-laws; others threw the blame upon the income-tax, and the other financial measures of Sir Robert Peel’s government; some attributed the distress to the poor-laws; and others pointed to emigration as the natural safety-valve and outlet for the pressure of a too rapidly increasing population. All these subjects were discussed at length in both houses of parliament; but few practical results arose from these discussions.