1156 REPORT—1885. 
membered, however, that the increasing imports of articles of food are on the one 
hand the consequence of the improved condition of the people, which enables them 
to eat and drink more than they were able to do in former years, and on the other 
hand the result of natural conditions which determine and limit the productiveness 
of the soil in the United Kingdom—a fact which we cannot remedy, and which we 
can only meet by the importation of foreign produce, We would commit the 
greatest possible error were we to attempt to benefit the working classes by the re- 
striction of the imports and by the reduction of the amount of foreign trade: any 
restraint of that character having the effect of benefiting the few at the expense of 
the many. Doubtless we must lament the prevalence of erroneous economic 
principles in several countries; financial exigencies, and more especially the 
influence of interested parties in the Government and in the Legislature, have 
retarded the practical adoption of principles admitted to be sound and unquestion- 
able. But no political economist anywhere has ever spoken a word in favour of 
either restrictive tariffs, bounties, or prohibitions. The general condition of trade 
is certainly considerably altered, and is much more precarious than it was fifteen or 
twenty years ago. First of all, an increasing competition exists at home and 
abroad, not only among producers, but among distributors. At this moment 
Chinese and Japanese merchants compete with British merchants in the trade of 
the East, just as French and German manufacturers are striving to wrest from the 
British manufacturers a share in the supply of the textile and other manufactures. 
Nor have a few capitalists any longer a monopoly of trade. By the extension of 
joint-stock companies with limited liability, hundreds of millions find their way 
into trade and public works, and these companies being content with realising a 
small percentage of profits, private merchants must consent to work on equal 
terms. By the greater vigilance of workmen, manufacturers have no longer in 
their power to maintain wages at as low a rate as possible. They are made to 
divide with the workmen in the shape of higher wages a full portion of their 
profits. And the advantages which leading merchants once possessed from their 
extensive agencies are neutralised or lost by the promptitude with which every- 
thing is communicated to the world through the press, whilst electricity and steam 
have by their speedy or instantaneous movement greatly narrowed the field of 
speculation. Monometallism, or Bimetallism, has nothing to do with the depression 
of trade. Money is plentiful. What is wanted are a greater diffusion of comforts, 
and more confidence in political and social tranquillity. Altogether ill-founded 
are the complaints made against free-trade. Deeper causes than any changes in the 
commercial policy of this or of any country have produced the depression of trade 
so much complained of. If the Royal Commission lately appointed on the depres- 
sion of trade, or any members of the same, are in any expectation that the facts 
which may be presented to them justify either the reimposition of the Corn Laws, 
or the introduction of differential duties in favour of the British Colonies and 
against foreign countries, or a prohibitive or restrictive tariff of imports, they will 
be grievously disappointed. I do not object to an inquiry. It will put an end to 
much idle talk. It will show on what foundation of sand fair-traders and pro- 
tectionists are relying. The verdict of the nation has long been pronounced, and 
the Royal Commission summoned to, if possible, reverse the same will, like Balak 
of old, not only reject the appeal, but confirm it asirrevocable. Royal Commissions 
cannot improve trade. What we require is to open and not to shut the avenues of 
wealth. We are all deeply concerned in its increase all over the world. All 
nations depend on the abundance of their harvest from year to year. Let us pray 
that their garners may be full, affording all manner of store. Commerce will ever 
be the landmark of peace. Let us rebuke the thoughtless, the suicidal mania for a 
warlike policy; let us put a check to the ruinous maintenance of enormous armies. 
Britain need not fear competition, and there is no reason why her productions 
should be inferior to those of any other nation in solidity, taste, and economy. 
She possesses a cheap and abundant supply of coal and iron—she has a climate 
most conducive to continuous labour, and plenty of workers fuliy apt, would that 
they had always the will for their work. Wages are not higher here than in other 
A 
countries, when we take into account the relative power exerted on matter. Nor — 
