106 



merits of half the Countries in Europe, are Tobacco 

 Merchants. The Government of India has been 

 an Opium Merchant for years, with great advantage 

 to the revenues of the State ; it is still a Tea Mer- 

 chant with very great prospective benefit to its sub- 

 jects- both European and Native, and to the commer- 

 cial interests of both England and India ; and would 

 that, in the latter sense, the Government of India were 

 also a Cotton Merchant, is a sentiment that I am sure 

 will be heartily echoed by every one who feels for the 

 lamentable circumstances of the starving operatives 

 of the manufacturing districts of England, and 

 who takes any real interest in the welfare of India. 

 A historian tells us that an Emperor once set fire to 

 his Capital and sung an ode while the flames 

 reduced it to ashes. It is not true. Nor have we 

 here a parallel. Yet I honestly confess that the melan- 

 choly reflection such an idea gives rise to, involunta- 

 rily occurs to rne when I observe people in the middle 

 of the nineteenth century, while grim Famine is 

 stalking outside their doors, with nothing more 

 practical to propose, than a discussion on the abstract 

 principles of political economy, which have nothing 

 whatever to do with the question ! 



When a very much greater quantity of any com- 

 modity is thrown on a market, than the ordinary 

 buyers in that market require or will readily carry 

 off, as regards that commodity, there is said to be a 

 glut : and, as the natural consequence prices fall. 



