depressed state in which rural concerns had remained for the last five years, was not indeed of long dura tion, but even while it lasted, seemed to have little effect in removing the discontent which former distress may be supposed to have generated. This discontent manifested itself in the emigration of several farmers of capital, and a great many of a lower description, as well as husbandry labourers, and in the attempts that were now made, upon a maturely-formed plan, to procure an alteration of the cornlaws, with a view to prevent the admission of foreign grain. The great, and perhaps excessive imports of this year, renewed and aggravated the complaints that had been made on the same account in 1817, and delegates from various parts of the country now met regularly in London, to procure the imposition of a heavy duty, amounting indeed to a prohibition on the import of corn, and almost every other description of produce which could by any means, and at any cost, be grown at home. The careless, and consequently inaccurate, returns from which the averages regulating importation were calculated, furnished a more legitimate subject of dissatisfaction, and

one to which no effectual remedy will ever perhaps be provided under the present system. The object of these associations did not however come under the consideration of Parliament till the following year. It is therefore sufficient to remark, that whatever may have been the distress of our corn growers from 1814 till 1818, it was' most injudicious at this time, when better prospects lay before them, to seek to agitate the public mind anew with a question which had been so recently decided in opposition to the wishes of the great body of the people.

On the continent of Europe, also, especially in the corn-exporting countries, the harvest had been abundant, even still more than in Britain; and after their produce was denied access to our market, prices fell to a lower rate than had been known for many years. There was now peace and plenty at home and abroad; but the wounds which war had inflicted were not yet closed, and the burdens which it had left behind were felt to press more severely when the excitement which it had produced existed no longer, but was succeeded by a state of feebleness and exhaustion rather than of healthful repose.

4

THAT revived state of commerce, which had distinguished the close of the preceding year, continued with little interruption, through the whole of the present. All the branches of British manufacture, particularly those of cotton, were restored to full activity; sufficient employment, and in many cases high wages, were afforded to those who depended upon them for subsistence. The tumults raised by the spinners about the middle of the year to obtain an increase of wages,

appear to have been entirely of a fac tious nature, made with a view to take advantage of the increased demand for labour to raise it beyond its natural rate. This they sought to effect by striking work themselves, and compel ling others to do the same, at a time when it was afforded to them at a very satisfactory rate. This activity of ma. nufacture caused a brisk demand for all its materials, the stocks of which, previously accumulated, were almost entirely disposed of in the course of

the

year. Cotton in particular was always in demand, notwithstanding the unprecedented amount of the quantity exposed to sale by the East India Company. The extent of the cotton manufacture was also proved by the export from the port of Liverpool, in the quarter ending January 5, 1818, of 24,835,335 of yards, and 380,544 pairs of stockings, the value of which articles was estimated at 1,300,000l. In the following quarter, the export amounted to 29,295,010 yards. The The amount continued to increase, and large orders to be received at Manchester, Glasgow, and the other seats of this manufacture. The woollen shared in the augmentation, the quantity of cloth milled in Yorkshire exceeding that of the preceding year by several millions of yards. The iron trade also, at Dudley, Stourbridge, &c. was brisker than it had been for several years. This general prosperity was hailed with the greater satisfaction, since it was fondly, though, as afterwardsappeared, prematurely, expected to be permanent, and to mark the final termination of the distresses consequent on the transition from war to peace.

Among the commercial features of the present time, one of the most remarkable was connected with the opening of the East India trade to private adventurers. The result, so far as could yet appear, had been extremely favourable. The following was given as the amount of exports during the four years that the trade had continued

across half the globe, manufactures it, and after transporting back the cloth by a conveyance of several thousand miles, sells it cheaper than the natives, notwithstanding the extreme cheapness of labour, can produce it-such is the power of skiil, capital, and machinery. In like manner, the Staffordshire manufacturers, with their pottery, were able to unċersell the staple of China. The rise of value in this article was from 79,1911. to 380,8841. Malt liquor increased from 50,0227. to 111,1887.; haberdashery from 16,745l. to 80,962l.; cabinet wares from 58971. to 18,4314. From the 5th January, 1815, to the 5th January, 1818, the outward ton nage increased from 39,141 to 104,628. These were divided as follow: London, Liverpool,

Greenock,

Newcastle,

Portsmouth, Bristol, Plymouth, Whitby, Hull,

85,172

10,876

1,702

In the course of this year, Leith obtained the privilege of ranking as one of the ports from which a trade to India might be carried on.

The commercial prosperity enjoyed by Britain during the present year did not extend to the continent. In the Leipsic Michaelmas fair particularly, a great stagnation was observed from the want of money, and consequently of buyers. The Frankfort fair was more prosperous, and was considered the best that had occurred since the return of peace. The English manufactured goods were not in quantities sufficient to meet the demand, and were observed to be offered at higher prices than formerly; the English being weary of selling their goods at or below prime cost. This proved advantageous to the manufacturers from Switzerland and Saxony,

who found considerable vent for their goods.

The Prussian government adopted this year a remarkably liberal system of commercial legislation. The fol. lowing are its principal provisions: "It is necessary to abolish all the restrictions on the free trade between the different provinces of the kingdom. All foreign productions, both of na ture and art, may be imported under a pass in transitu through the whole extent of the Prussian dominions. The exportation of all the same productions, both of nature and art, is allowed. Exceptions may be admitted for particular reasons, and for a limited time.

"This freedom of trade shall be assumed as a basis in negociations with other states. Facilities enjoyed by the subjects of the states in their trade with other countries shall be reciprocated as far as the different relations allow, and commercial treaties shall be concluded when necessary; on the other hand, the right is resumed to retaliate by corresponding measures the restrictions by which the intercourse of the subject with foreign countries naturally suffers.

"The regular import duty on foreign goods is fixed for half a dollar per cwt. Prussian. Those goods which, contrary to this rule, are admitted duty free, or taxed with a higher or lower duty, are specified in the tariff.

"Exportation is duty free; the exceptions are specified in the tariff.

"Besides the import duty, many foreign goods, if they remain in the country, are to pay a duty on consumption (an excise.) Upon goods of foreign manufacture, this duty shall not exceed ten per cent. on the value; and it shall be less when it can be so without injury to the internal industry. "Goods liable to commission duty are specified in the tariff.

"The duties are levied on the weight, number, and measure.

"According to these samples, there is annexed, under A, a tariff for the Eastern provinces, and, under B, a tariff for the Western provinces ; and also the general regulations for the levying of duties.

"Goods not entered for consumption in the country pay import and export duty, but not consumption duty. Such goods may be bonded. Diminution of the duties is allowed in certain cases, particularly for goods brought to the fairs of Nuremburg and Frankfort (on the Oder), or retiring from them. All inland duties levied by the state, by communes, or private persons, are abolished and cease from the day when this law is in force. If the communes, or private persons, levy such duties a titre onereux, they are to have an indemnity founded on clear annual. receipt, taken at an average of the three last years. From this abolition are excepted Octroi on the Rhine, Elbe, and Weser, and all such duties as are levied for keeping up of the roads, causeways, bridges, harbours, light-houses, &c. which are designed for the promotion of traffic."

Another absolute government (Naples,) distinguished itself by the liberal footing on which it placed its monetary system. According to a decree dated the 20th of April, 1818, any person may freely export from the kingdom either gold or silver coin, or may melt it down, make it into bars, or employ it in any manner of workmanship. The coin is to be of silver only, and the principle of a constant proportion between gold and silver, adopted by almost all civilized nations, is rejected. In consequence of the fruitless attempts to establish this, it has happened that gold at one time disappears from a state, while at another it is superabundant. Gold is to be taken only by weight. The utmost liberty is allowed in exchanging silver for gold, or gold for silver. The mint receives these metals in bars,