d by the prevailing spirit of speculation. The alarm felt upon
this subject was in part grounded upon the state of our commerce in the
Baltic, and the number of Prussian ships which entered our ports, as
compared with British. Now in 1824, the British ships which entered from
the Baltic was 440, and in 1825, 942. The number of Prussian ships which
entered in 1824 was 682, and in 1825, 827. The number of Prussian ships,
therefore, increased only by a fourth, while that of the British ships
was more than doubled. Such was the comparative state of the shipping
of both countries in the last year; and as Prussia seemed to be the
main object of jealousy when there existed so little ground for it
with respect to that nation, all apprehensions on this point might
be dismissed. Mr. Huskisson's motion was agreed to; Sir W. Ridley
expressing a hope that the subject would receive a full investigation
in the next parliament. Later in the session, Mr. Huskisson brought in a
bill to give effect to some commercial treaties which had been concluded
between this country and Colombia, and the united provinces of the Rio
de la Plata. It had been stipulated, as these republics were not
in possession of any commercial marine of their own, that vessels,
wheresoever built, being the property of any of the citizens of either
republic, should be considered as national vessels of that republic:
the master, and three fourths of the mariners of the vessel being always
citizens of such republic. The design of Mr. Huskisson's bill was to
give effect to these stipulations, and it was passed into a law.

FINANCIAL STATEMENTS.

{GEORGE IV. 1826--1827}

The chancellor of the exchequer opened the budget on the 13th of March.
In doing so he took a large review of the whole financial system,
particularly of reductions which during several years had been made in
taxation, and of the effect of these reductions in the productiveness
of the revenue. His statements for the year partook of the favourable
character which they had sustained for the last three years, although he
admitted that he must make allowance for some loss in various branches
of revenue, consequent on the present state of public embarrassment.
After all the deductions, however, he reckoned the probable produce of
the year before him at not less than L57,000,000, while he calculated on
the whole expenditure at L56,328,421. This statement, holding out
much happier prospects than, from th