conformity with the prevailing good sense, the moderation, and the
intelligence of the great body of the people of England." This was a
sufficiently distinct notice to all men, especially to those of
extreme opinions, whether Tory, Liberal, or Radical, of the course of
action which was to be looked for from the expectant Prime Minister.

Then, first, he proceeded to admit the existence of manufacturing
distress.

"I admit and deplore it, but I do not despair. I have seen distress in
manufactures and in commerce before now. I think the causes of the
present distress are but temporary--that the cloud will soon blow
over--and that the great foundations of manufacturing prosperity are
not affected; and I hope I shall very shortly see the day when our
manufactures will once more revive, and when we shall again fill the
place we have always occupied--that of producers for the markets of
the world."

Now for its _cause_.

"Now let us consider the important question, as to how far the
distress in the manufactures and commerce of the country is fairly
attributable to the corn-laws." He proceeded to show, from Lord
Palmerston's official statement in Parliament on the 22d July 1840,
that, between the years 1830 and 1839, the _exports_ had risen from
the value of L.38,000,000 to L.53,000,000, and the _imports_ from
L.46,000,000 to L.62,000,000, "a clear proof that, notwithstanding the
local and temporary checks which our commerce had experienced, on the
whole it had gone on steadily improving, and that between the two
periods it had increased not much less than from two to three."

He then took the _shipping_ and _navigation_ of the country for the
preceding three years; and in looking at them, I cannot help thinking
that, if there was any thing like an absolute decrease in trade and
commerce, there would also be a decrease in the shipping of the
country. "Well," said Sir Robert Peel, "What do I find?" The returns
"showed an increase, presented within the last three years, from
4,000,000 tons to 4,780,000 tons." Now mark--"during the whole of this
period the corn-laws were in operation; how then can they be fairly or
honestly assigned as the cause of the present manufacturing and
commercial distress?"

But if the corn-laws were _not_, what _was_ the cause?

"I see causes enough in the world, as well as in this country, why
there should be manufacturing and commercial distress at the present
moment, irrespective and total