One of the most remarkable features of the commerce of the period was the importation of corn:—In 1858, wheat, 4,275,435 qrs.; barley, 1,673,477 qrs.; total of all grain, 11,572,702 qrs.: 1859, wheat, 4,023,578 qrs.; barley, 1,742,217 qrs.; total of all grain, 10,516,193 qrs.
In 1858 there was a reduction of taxation to the amount of £2,100,000; new taxes were imposed to the extent of £456,780.
The rental value of land in England in 1859 was estimated at £41,000,000.
The following statement of railway property at the close of 1858, is from a return ordered in consequence of a parliamentary motion, made by Mr. Henley, in the session of 1859:—“The grand total amount of railway capital authorized by act of parliament previous to the 31st of December, 1857, was £287,908,636 by shares, and £98,273,070 by loans. In 1858, £5,253,792 was authorized by shares, and £2,199,409 by loans. The total capital and loans authorized previous to the 31st of December, 1858, was £392,682,755; £181,837,781 of the capital was not receiving, nor entitled to receive, any preferential dividend or interest. The total dividends on the share capital amounted to £6,161,099; £61,854,547 was the stock receiving, or entitled to receive, preferential dividend or interest, to the amount of £829,331. The total debts of companies at the end of 1858, amounted to £81,683,179; and the interest thereon payable to £3,591,148. £325,375,507 was the total sum which at the end of 1858 the railway companies had raised by shares or loans, and £67,307,248 the total amount which at the same period they retained power to raise, either by existing or by new shares, or by loans. The total amount expended on railroad works and rolling stock was £287.800,208. The total length of line and capital appropriated by parliament for the construction of lines, for which the powers for the compulsory purchase of land have been allowed to expire previous to the 31st of December, 1858, without the exercise of such powers, were respectively 2,534 miles, and £41,082,954.”
The value of imports and exports to the United Kingdom for 1858 and 1859 was enormous. The following comparative view, based on the returns of the board of trade, is therefore of much interest. The general increase of exports in 1859 over 1858 was £13,831,671, while to the colonies and the United States it was £14,022,424. The balance of our business carried on with all other parts of the world resulted, therefore, in a falling off.
The total income of the national exchequer, when the accounts were made out in 1858, was a little more than sixty-eight millions. The expenditure amounted to nearly two and a half millions more.
PARLIAMENTARY AND POLITICAL.
On the 4th of February, 1858, the business of parliament began. The life of the French emperor having been attempted by an assassin, who had resided as a refugee in England (as recorded under the head of our relations with France), the government brought in a bill to bring refugees more stringently under the cognizance of the executive. The spirit of the measure was to conciliate France, and gratify the French emperor. This was distasteful to the nation; for the French press, and the French army, with the connivance, and even at the instigation of the French government, abused and menaced England, in a manner such as no great nation before had endured from another in time of peace. The bill of Lord Palmerston was supported by the whole strength of the tory opposition. The independent Liberals, however, made so determined an opposition to the measure, and to the whole policy of the government in truckling to France, that the tory party resolved to make that hostility available to overthrow the government. It appeared that an insulting despatch had been sent by Count Walewski, the French minister, to the English minister for foreign affairs. To this despatch no reply was returned, whereas the house of commons and the country considered that a reply, prompt and indignant, should have been given. Mr. Milner Gibson, then especially hostile to the Palmerston government, moved what was tantamount to a vote of censure, on the ground of the silence of the cabinet under the singularly offensive despatch of the French minister. The combination of independent Liberals and Tories, upon this motion, threw out the government.
Lord Derby was sent for by her majesty, and empowered to form a ministry. The new cabinet was thus composed:—