1830.] at the Opening of the New Parliament. 553 



We think a view of the present state of our export trade will justify 

 these remarks. By the gradual extinction of our home trade, all classes 

 of merchants have been driven into foreign markets, and the result has 

 been a series of most disastrous losses. Without a knowledge of the 

 capabilities of these markets, and led away by vague calculations of 

 profits to be gained and production to be extended, men of small capital 

 were induced to embark in speculations which have terminated in bank- 

 ruptcy and ruin to themselves, and in the most serious detriment to 

 those who had hitherto advantageously prosecuted such business. The 

 foreign markets have been for the last few years overstocked, and glutted 

 with all descriptions of British produce. The legitimate trader has 

 been every where jostled and injured by the needy adventurer. Prices 

 have been wantonly sacrificed ; and the foreign merchant ha.s been 

 compelled to seek protection in petty and aggravating restriction, in 

 some cases in virtual prohibition, from the recklessness or the frauds of 

 British merchants. Thus the result of the loss of our Home Trade has 

 been ruinous to at least one class of our merchants : viz. those whose 

 deficiency of capital disables them from profitable operations in foreign 

 markets. This class has been for the last few years progressively 

 falling in the scale of comfort j and in a few years more will be almost 

 completely merged in the mass of the people. 



The effect of our system upon the working classes, has been to reduce 

 wages to an extent which a few years ago would have been considered 

 impracticable and wicked. It would not have been considered possi- 

 ble that any human being could exist upon the pittance at present doled 

 out to our manufacturing and agricultural poor ; and yet we affirm that 

 our export trade depends solely for profit upon this sacrifice of the 

 comfort of the people. We can only depend upon the foreign market 

 for the consumption of our goods, so long as we starve our manufacturing 

 population. This assertion must be startling to men of proper feeling, 

 but it is nevertheless strictly and entirely true. Our profits as exporters 

 depend solely upon the cheapness of our article, and we can only pro- 

 cure such cheapness by means under our own control. We cannot 

 lessen the cost of the raw material, and if we could, it would not avail 

 us anything. We can only lessen the cost of that part of the article 

 which is our own production : viz. labour and skill. We can only 

 grind down wages and lessen the reward of ingenuity. When this is 

 effected when our workmen are reduced to the level of slaves (and 

 we cannot see how they can endure greater poverty and greater 

 wretchedness than they have done, and are even now doing), we must 

 lessen our expenses and the comfort of our fire-sides : we have already 

 done all this, and it is not enough. We hear of the misery of West 

 India Slavery, and yet we are pursuing measures which have reduced 

 our once flourishing population to a condition infinitely worse than 

 slaves. We appeal to that wild talker, Henry Brougham, if it is com- 

 mon for slaves to die of hunger and nakedness ; and what privileges does 

 a poor English weaver enjoy which slaves do not ? " The freedom of 

 the mind," we think we hear him say. This is true. Our famished 

 countryman can look upon the laws which degrade him below the level 

 of humanity, and execrate that management which has made his mind 

 the slave of a craving body - - which has placed him a starving human 



m g in the midst of a free country. The freedom of the mind ! Can 



M. M. New Serie9.VoL. X. No. 59. 4 A 



