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.
MEETING OF PARLIAMENT.
Parliament was opened by commission on the 2nd of February. The speech, read by the lord-chancellor, referred to a treaty which had been concluded with the United States of America and the adjustment of differences which, from their long continuance had endangered the preservation of peace. Allusion was also made to the termination of hostilities in China; and a hope expressed “that, by the free access which would be opened to the principal mart of that populous and extensive empire, encouragement would be given to the commercial enterprise of her majesty’s people.” The speech continued:—“In concert with her allies, her majesty has succeeded in obtaining for the Christian population of Syria, the establishment of a system of administration which they were entitled to expect from the engagements of the Sultan, and from the good faith of the country. The differences for some time existing between tire Turkish and Persian governments had recently led to acts of hostility; but as each of these states has accepted the joint mediation of Great Britain and Russia, her majesty entertains a confident hope that their mutual relations will be speedily and amicably adjusted. Her majesty has concluded with the Emperor of Russia a treaty of commerce and navigation, which will be laid before you. Her majesty regards this treaty with great satisfaction, as the foundation for increased intercourse between her majesty’s subjects and those of the emperor.” The affairs of India and the events in Afghanistan were next adverted to; satisfaction being expressed at the victories obtained “on the scenes of former disasters.” Concerning the decrease of revenue the speech remarked:—“Her majesty regrets the diminished receipt from some of the ordinary sources of revenue. Her majesty fears that it must be in part attributed to the reduced consumption of many articles, caused by that depression of the manufacturing industry of the country which has so long prevailed, and which her majesty has so deeply lamented. In considering, however, the present state of the revenue, her majesty is assured that you will bear in mind, that it has been materially affected by the extensive reductions in the import duties which received your sanction during the last session of parliament, and that little progress has hitherto been made in the collection of those taxes, which were imposed for the purpose of supplying the deficiency from that and other causes. Her majesty feels confident that the future produce of the revenue will be sufficient to meet every exigency of the public service.” The speech concluded by adverting to her majesty’s recent visit to Scotland; to disturbances which had taken place in some of the manufacturing districts; and to measures connected with the improvement of the law which were to be brought forward during this session.
The address was agreed to, and the house adjourned.
In the house of commons also the address was agreed to without a division, and the house adjourned.