Beacon Lights of History, Volume 10 eBook

John Lord
This eBook from the Gutenberg Project consists of approximately 272 pages of information about Beacon Lights of History, Volume 10.

Beacon Lights of History, Volume 10 eBook

John Lord
This eBook from the Gutenberg Project consists of approximately 272 pages of information about Beacon Lights of History, Volume 10.
like England.  Not for lofty sentiments, such as Burke uttered on the eve of the French Revolution, are the highest rewards given in a material country like that of our ancestors, but for the skill a man shows in expounding the way in which a nation may become prosperous and rich.  It was Sir Robert Peel’s mission to make England commercially prosperous, even as it was that of Brougham and Russell to give it liberty and political privileges, that of Pitt and Castlereagh to save it from foreign conquest, and that of Wilberforce to rescue it from the disgrace and infamy of negro slavery.

Sir Robert Peel came into power in 1841, the Russell Whig ministry having failed to satisfy the country in regard to financial questions.  There had been an annual deficit, and the distress of both the agricultural and manufacturing classes was alarming.  The new premier proceeded with caution in the adoption of measures to relieve the burdens of the people and straighten out the finances, which were in great disorder.  His first measure had reference to the corn laws, for the price of food in England was greater than in other European countries.  He finally proposed to the assembled Parliament, in 1842, to make an essential alteration in the duties; and instead of a fixed duty he introduced a sliding scale, by which the duty on corn should be thirteen shillings a quarter[2] when the price was under sixty shillings, increasing the duty in proportion as the price should fall, and decreasing it as the price should rise,—­so that when the price of corn was under fifty shillings the duty should be fixed at twenty shillings, and when the price was above seventy-three the duty should be only a shilling a quarter.  This plan, after animated discussion, was approved; for although protection still was continued, the tendency of the measure was towards free-trade, for which the reformers were clamoring.  Notwithstanding this measure, which was triumphantly carried through both Houses, the prevailing distress continued, and the revenue was steadily diminishing.  To provide revenue, Peel introduced an income tax of seven pence in the pound, to stand for three years; and to offset that again lowered the import duties on domestic animals, dairy products, other articles of food, and some drugs.

[Footnote 2:  “The fourth of a ton in weight, or eight bushels of grain.”]

When Parliament assembled in 1843 the discussions centred on free-trade.  Sir Robert Peel and Mr. Gladstone and Sir James Graham admitted the general soundness of the principles of free-trade, but felt that the time had not yet come for their adoption, fearing an increased distress among the agricultural population.  At that time, and for a long period before, the interests of agriculture were regarded as paramount, and those of manufacturing secondary; but, as time passed, it was generally felt that reduced taxes on all the necessities of life were imperative.  Fifty years earlier, England produced corn enough for all the wants of the country; but with a population increasing at the rate of two hundred thousand a year, it was obvious that the farmers could not supply the demand.  In consequence of which, at then existing tariffs, bread became yearly still dearer, which bore hard on the manufacturing operatives.

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Beacon Lights of History, Volume 10 from Project Gutenberg. Public domain.