cultural depression is of all
things that which the manufacturer has most reason to dread. Exportation
never can be carried to such a height, that the home consumption shall
be a matter of indifference. At present, from eight to nine-tenths of
the manufacturing population are dependent for support upon articles
consumed at home. Any depression, therefore, of agriculture--any measure
which has tendency to throw the other class of labourers out of
employment--must be to them productive of infinite mischief. If the
customer has no means of buying, the dealer cannot get quit of his
goods. This surely is a self-evident proposition; and yet it is now
coolly proposed, that for the benefit of the dealer, the resources of
the principal customer must be so far crippled that even the employment
is rendered precarious.

The abolition of the protective duties upon corn, is unquestionably the
leading feature of the scheme which the Premier has brought forward.
There are, however, other parts of it with which the agriculturist has
little or nothing to do, but which may appear equally objectionable to
isolated interests. Such is the proposal to allow foreign manufactured
papers to be admitted at a nominal duty, in the teeth of the present
excise regulations, which, of themselves, have been a grievous burden
upon this branch of home industry--the reduction of the duties upon
manufactured silks, linens, shoes, &c.--all of which are now to be
brought into direct competition with our home productions. Brandy,
likewise, is to supersede home-made spirits, whilst the excise is not
removed from the latter. For these and other alterations, it is
difficult to find out any thing like a principle, unless indeed some of
them are to be considered as baits thrown out to foreign states for the
purpose of tempting them to reciprocity. We should, however, have
preferred some distinct negotiation on this subject before the
reductions were actually made; for we have no confidence in the scheme
of tacit subsidies, without a clear understanding or promise of
repayment. Indeed the whole success of this measure, if its effects are
prospectively traced, must ultimately depend upon its reception by the
foreign powers. No doubt, our abandonment of protection upon grain will
be considered by them as a valuable boon; for either their agriculture
will increase in a ratio corresponding to the decline of our own, which
would clearly be their wisest policy, or they wi