Lord Clanricarde is here—laughs at the idea of Parliament meeting in October; but talks much of the difficulties of Ireland—says he does not see how the rates are to be paid.
Messrs. Drummond are calling in their mortgages. I expect to hear that this practice will be general; money dear, corn cheap, incumbrances enhanced, and rents depressed. What will become of the apathetic country gentlemen? I judge from * * * * ‘s language, that Lord John Russell will stand or fall by the Bank Charter Act-but that he feels very apprehensive of being unable to maintain it.
I agree with Bonham, in thinking that the Protectionist party is smashed for the present Parliament; but I must say I think Protectionist principles and policy are likely to come into repute again far sooner than was expected; and though Peel’s party be a compact body, and formidable in the House of Commons, I cannot think that there appears that in the working of his measures to make it likely that he should be soon again carried into power on the shoulders of the people. I think his political reputation must ebb further before it can rise again, if it should ever rise again. * * * * thought him ‘broken and in low spirits,’ when he met him at Longshaw; but Lord * * * *, who was there at the same time, came away more Peelite than ever, and told them at Bretby that Sir Robert said, ‘That he was quite surprised at the number of letters he got every day from members returned to Parliament, saying they meant to vote with him.’
You may rely upon it the Peelites are very sanguine that they will be in power again almost directly. We must keep them out.
TO MR. BURN, EDITOR OF THE ‘COMMERCIAL GLANCE.’
Welbeck, September 38, 1847. To the many courtesies you have already bestowed upon me, I will sincerely thank you to add that of informing me what have been the estimated cotton crops in the United States in each of the last four years. I would also thank you to inform me the comparative importation, home consumption, re-exportation, and stocks on hand of cotton of the first seven months of the current and three preceding years.
TO MR. BURN.
Welbeck, October 4, 1847.
Your statistics have reached me in the very nick of time, and are invaluable. I care nothing about ‘outsides,’ it is ‘insides’ I look to; give me a good ‘heart,’ and I don’t care how rough the ‘bark’ is.
Anything so good I fear to spoil by suggesting the most trivial addition, else I should say it would be an interesting feature to classify the exports of cotton goods, etc., etc., under three heads:—