46

I again commend to your attention the restrictions imposed on commerce by the navigation laws.

If you shall find that these laws are, in whole or in part, unnecessary for the maintenance of our maritime power, while they fetter trade and industry, you will, no doubt, deem it right to repeal or modify their provisions."

This, then, is the end of those famous laws which were supposed for 150 years, to have been the source of England's commercial greatness; but in relation to which, it is now declared from the throne, that they "fettered trade and industry." Such has been the enlightenment of the 19th century, notwithstanding that the Hon. Daniel Webster, in his Baltimore speech of 1843, spoke in regard to those laws as follows:

"In my opinion, the true principle-the philosophy of politics on this subject, is exhibited in the old navigation laws of England, introduced by some of the bold genuises of Cromwell's time, and acted upon ever since. In other respects, its operation is the most just, the most philosophical, and the most beneficial, that could be desired."

Those who have tried the navigation act for 150 years, pronounce it injurious to the national interests, while a small interest here, casting experience aside, express admiration of its supposed benefits.

The steady progress of the commercial principles so successfully carried out by the out-going administration, has immensely enlarged the markets for produce. As an indication of this fact, the quantity of American produce sold and carried abroad in American vessels has been progressively as follows:

1830.

1840.

1842.

1845.

1848.

..2,053,977......2.414,825

Produce exp....$51,106,189....90,036,898....71,467,634....75,483,123....95,544,217 Am. vessels, tons....971,760......1,647,009.....1,536,451. Under the high tariff of 1842 the exports, or sales of national produce, did not increase. But they have since done so largely, and the tonnage of American vessels has increased near 1,000,000 tons in six years. Following this increased tonnage, has been the employment of all parties connected with the marine, as well lumber growers and stevedores, as ship builders and seamen, or hemp growers and cordage makers. The larger the quantity of produce to go abroad, or of goods to come home, by so much is the demand for American shipping increased. Notwithstanding the liberality of our treaties, American vessels can overmatch all opposition; and in the prosperity of this class the hemp-grower of Kentucky and the ship-builder of Maine, have both a mutual interest, antagonistic to the designs of that school of politicians, who would destroy those great interests in order to pander to the monopolies of the tariff aristocrats.

The employments and profits in every branch of industry are undoubtedly greater, and the accumulation of capital more considerable at this moment than in any former period of the country. The results of all those statistical returns depended upon as evidences of the prosperity of producers indicate, that in the aggregate, the general welfare is greater now than ever. This is more particularly the case with manufacturing districts, as in Massachusetts, where the savings banks returns show the aggregate deposites at the close of 1848, to have been $11,970,470 divided among 69,894 depositors, or an average $171,28 per head, against $10,680,933, divided among 62,800 depositors, or $169 per head at the close of 1846, the last year of the tariff of 1842. In analyzing those returns, however, it is found that the commercial towns show a higher average of individual earnings than those which are exclusively manufacturing, that is to say, in New-Bedford the average is $200 per head, and in Lowell $165. This is the natural conse

quence of the corporate manufacturing system, which has a constant tendency to break up individual manufacturers with small means, through the effect of overshadowing associated capitals, thus multiplying the number of hands seeking employ, and therefore constantly reducing by competition the average earnings of employees, and swelling the dividends of the stockholders. The operation of the system is in nowise different in its results in this country, from that which is apparent in the manufacturing districts of England, in the immense wealth amassed in few hands amid the utmost popular misery. That the general prosperity of manufacturing operatives, as a whole, has been more progressive under the tariff of 1846, than under the high rates levied by that of 1842, is manifest in the fact, that the quantities of raw material taken by the manufacturers have increased in a greater ratio. After many years of constantly increasing purchases, the United States manufacturers took in 1843, 325, 129 bales of cotton, and the quantity continued to increase until it reached 422,597 bales for the year 1846, being an increase in four years under the tariff of 1842 of 97,468 bales, or 24,367 per annum. In 1848, under the low tariff, they took 531,772 bales, being an increase of 109,175, or 54,000 bales per annum. Thus far in the present year, the increase has been 20 per cent., or 106,000 bales over 1848, and will make a consumption of 636,000 bales for the year 149; now it is evident, that if the manufacturers buy such immensely increasing quantities of the raw material, it is because they find their account in it, and that in fact they were never so prosperous as at this moment. It is self-evident that if

it required a certain number of hands to work up 422,597 bales of cotton in 1846, that it will require at least half as many more to work 636,000 bales in 1849; and therefore that the demand for manufacturing labor under the low tariff of 1846, is 50 per cent. greater than under the high tariff of 1842. This is precisely the principle on which the tariff measures of the present administration have, in accordance with democratic free trade, been based; and they rest upon the law of trade, that the greater the means of the consumer and the lower the money price of the thing consumed, the greater will be the quantity required. Now, as a general thing, quantity cannot be increased without additional labor; and if a greater quantity is demanded, there is more request for laborers. This tends to sustain the price. Now, if a higher duty causes the foreign article to be so high in price, as not to be consumed largely, the corporate factories get a higher price for a less quantity, while they employ less labor and divide greater profits, the rate of wages falls, and the average earnings of operatives becomes less than in other occupations. A proposition to raise duties for protection is in fact a proposition to throw hands out of employ.

The great prosperity which the country exhibits in every department, togather with the manifestations that its growing wealth is more equally distributed among its producers; that those who create the wealth retain a far larger proportion of it than do the corresponding classes of the old world, are indications that the working of those great democratic principles, which the present administration was placed in power by the American people to demonstrate, and which, as we have seen, have been successfully combined in a most extraordinary manner in the last four years, are peculiarly adapted to the realization of the "greatest good to the greatest number." The modification of all taxes and the removal of all restraints upon individual action, as well as the abolishment of all laws that tend to accumulate wealth in the hands of a few, may now be said to be the settled policy of the whole country-low postage, low duties, a constitutional currency, and freedom of intercourse, have become settled questions in the United States, and cannot

again be disturbed, It is true, that certain monied aristocrats have taken advantage of the result of the late election, when avowedly no great question was at issue to threaten a restoration of those laws, by which their vast wealth was acquired. They occupy, however, the same position in respect of these laws, as do the old tory peers of England in respect to the bread tax. It will be remembered that the people of England having long, in vain, struggled against the corn laws, and in vain sought their repeal or modification at the hands of Parliament, at last combined in a great "anticorn law league" under Mr. Cobden, and so effectual has been their action, that on the 1st of February, 1849, those pernicious laws were finally abrogated, being nearly the last remnant of England's protective system. It appears, however, that the Duke of Richmond has promised the landholders that he will procure the restoration of the tax on the people's food for their benefit, in the same manner that certain "cotton lords" of New-England promise a restoration of the tax on supplies here. The emphatic language of Mr. Cobden, in relation to such pretensions there, will apply as well to the aristocrats here as there :

"He was indignant when he saw 'that other individual,' the Duke of Richmond, trying to hoodwink, gull and bamboozle the farmers of Sussex-the county where Mr. Cobden was born-and telling them that he would talk to Lord John Russell about restoring protection. That Duke should not restore one shilling of protection again. I tell his grace that it is of no use his going to men in power to talk about restoring the corn laws. We are in power on the corn laws. (Tremendous cheering.) Now I do feel somewhat indignant at this barefaced attempt to delude honest men. (Cheers.) I have had credit given to me for seven years for keeping my temper upon this subject, but I can't keep my temper with humbugs. I want it to be understood that in dissolving this League, we are not going to be revived again to have a fresh contest about protection. We have done with that.' (Loud cheers.) Mr. Cobden referred to the Peace question, in phrases which seem to promise that the League machinery shall be applied to a peace establishment propagandism. As we meet here for the last time, as members of that great and united body which effected the emancipation of our industry, I cannot help saying that I should feel the deepest regret in separating this evening, were it not that there is something in the toast which I am about to propose, which leaves me a hope that we shall not separate after all. (Tremendous cheering.) The toast which I have to propose is, Free Trade and Peace, the best guaranties of popular rights, the best promoters of national industry, and the most effectual means for the reduction of national burdens.' Well, I repeat, I don't think we shall separate for long, after all; for if free trade and peace be united together, why then I think that we have something yet to do before we have finished our work. I think that we may conscientiously co-operate to carry out the second object of the toast: indeed, I don't think that there is one of this assembly but will be as willing to work for the one as for the other, and who will not agree with me, that the most logical conclusion to which we can come in arguing the matter is this, that having effected free trade, we are bound to see if we cannot carry peace also.'

**

If I am glad to have this opportunity of letting not only our own fellow countrymen, but all Europe, know that those men and women who exerted themselves with so much self-sacrifice and so much honor to themselves, to emancipate industry-that they are as determined now to watch over and preserve the peaceable relations of this country with foreign nations-that they are as much opposed to war as to monopoly, and as determined that peace shall be henceforward a real peace. and not a mock one.' (Cheers.) He thought that free institutions abroad were logically connected with the progress of pacific principles; and he denied the assertion that the tendency of democracy was towards war. He hoped to live to see the time when foreign affairs would no longer be among the secrets of a cabinet, but be as publicly discussed as domestic affairs are now. 'I am against all monopolies of states; and I hope to see the monopoly of the Foreign Office and the monopoly of the Cabinet so invaded, that they shall not be allowed to engage in

a treaty which may involve you in the liabilities and risks of war, without its first undergoing public discussion. (Much cheering.) All our bloody contests for the last two hundred years have been conducted with a latent belief that captured colonies would recompense us for war. We know better now. I believe we are now at the beginning of a great world-wide revolution, which is destined to circulate round the globe, and to end only with time itself; and I believe that the beginning and the dawn of that revolution were laid at our own meetings in the Free Trude Hall.'"

The decision of the American people at the election of 1844, was as definitive in relation to the principles of universal peace and fraternity, as was the decision of the English people in that great movement which has sealed the fate of the British protective system, including corn and navigation laws, and also, of the colonial system. "Free trade and peace" are, indeed, "the best guaranties of popular rights," "and the best promoters of national industry." The "cotton lords" of New-England, and the "landed nobles" of Old England, cling tenaciously to privileges that they have long enjoyed. But the period of their ascendancy is passed; the rights of labor and the natural privileges of industry are no longer to be encroached upon by the artificial rights of capital created by partial laws that come in conflict with the universal laws of trade. No person, or set of persons, can derive any right or privilege from legislative enactments, without encroaching upon the natural rights of the people at large.

During the last four years, each producer of American wealth has had greater opportunities to turn it to the best account, and individually, to realize a larger portion of the results of his own industry, than perhaps the people of any country ever enjoyed before. There have been in operation fewer laws to take from him his earnings and bestow it upon other parties; he has been enabled to sell on better terms abroad, and the proceeds of his sales have come home to him at cheaper rates, and burdened with lower taxes and at a less cost of transportation. In return, he has demanded a larger quantity of manufactured supplies, and these have promoted a more extended employment of skilled labor. There have been fewer corporate associations to absorb and consume, through speculators, the products of industry, in return for faithless promises to be expunged by bankrupt laws. There have been less extensive schemes by which contractors and jobbers might be enriched from the public treasuries, under the pretence of public improvements." The constitutional currency has actively operated to steady and fix the rewards of industry, and to enable the producer to get an actual equivalent for the proceeds of his labor. As a general result, although there are fewer instances of rapid accumulation in private fortunes, the individual wealth of the whole people has averaged greater than in any former similar period; and, although the war commenced in Mexico through the encouragement of the aristocratic party among us, has necessitated the creation of a small debt, by which a number of capitalists have for a season become national annuitants; yet, the healthy action of the revenue tariff principle is operating speedily to extinguish that promoter of monied aristocracy. That continued attempts will be made to renew special privileges there is no doubt; but the close of the present administration leaves the country in a more prosperous and sounder condition than ever it was before. Neither can we doubt, but that free trade and free principles will continue to progress, until the most complete freedom of intercourse will virtually have annexed England, as well as the mercantile world, commercially to the United States.

J

"

MACAULAY'S HISTORY OF ENGLAND.*

THERE is no department of literature which has undergone such changes, in modern times, as history. The term once implied a mere collection of facts, narrated with more or less detail and consistency, to which recourse could be had for precedents and illustrations. Few readers associated history, in its original form, with intellectual enjoyment. Its brilliant episodes and interesting characters were chiefly known through the labors of the poet. Thus, to English minds, Henry VIII. is what Shakspeare made him; Philip of Spain exists in the intense portraiture of Alfieri; and the delicate misfortunes and beauty of Mary Stuart, were revived with new and lasting attractiveness by the tragedy of Schiller. The more we reflect upon the sources of our permanent historical ideas, the clearer will it appear that fiction and poetry have winnowed the silver wheat from the dusty chaff of the annalist; and that epochs are remembered, on account of some dramatic incident or heroic personage, which, incarnated by genius, has been stamped with reality to the heart. Accordingly, historic literature, in the absolute meaning of the phrase, has been rather a storehouse of the past, which the dramatist explored for a plot, the orator for an argument, and the antiquarian for the pleasure of research. It has seldom, and only in fragments, proved a living record with near relations to the present and future. A gradual modification has been long evident. As the sympathies of mankind have been awakened by the facilities of intercourse, history has become more of a common ground and suggested unimagined attractions. Her archives have been laid open to throw light upon the philosophy of life-to elucidate the progressive tendency of society, and to trace the laws of providence. A fresh rule of perspective has been applied, whereby the distant is brought near; and the glow of Christian sentiment has revealed, in more vivid tints, the light and shade once indistinctly mingled. Champollion found a key to the monumental history of Egypt; Niebuhr to the antiquities of Rome; and Cousin delivered lectures that kindled crowds of listening youth, in order to trace a high and vast design in the vicissitudes of nations. But this acute and comprehensive study of the past, while it indicates the advanced humanity and superior intelligence of the age, is not the only cause of the improvement in historical writing. The principle of a division of labor, so effective in political and social economy, has been operative in more abstract vocations. It has tended to classify and subdivide literature and science, and thus render their phases more distinct. We perceive its influence upon history in the fact that, instead of countries, events and individuals are made the subjects of separate description. By this means, instead of a confused jumble of wars, councils, and successions, we have many central points, around which secondary things are made to revolve; and the principle at work-the question in abeyance the spirit of the times-are brought out with a relief and proportion, that greatly assists our insight and harmonizes our conclusions. With this view Sismondi wrote his Italian Republics, Ranke his history of

*The History of England, from the accession of James II. By Thomas Babington Macaulay-Vols. I. and II. New-York: Harper & Brothers. 1849.