affairs prompted distrust in the policy of the Government, and induced urgent remonstrance and strong but unavailing opposition, an infatuated ministry, backed by a subservient parliament, and upheld by inconsistent and disingenuous support, continually replied by pleading that their great experiment had been interrupted by famine at home and convulsions abroad, and that Free Trade had not yet had a fair trial. We have shown that in the colonies, where neither internal difficulties nor external distraction have impeded its operation, the fair trial has really been given, and has utterly, disastrously, destructively failed. We protest against waiting with our arms folded till similar irretrievable mischief shall have afforded the equally complete proof of its ruinous effects on domestic interests. If that period of trial is only to cease when all Europe shall be restored to permanent tranquillity, when, we ask, are those halcyon days to arrive? Is the political condition of France, of Germany, of Prussia, of Austria, of Italy settled? Is Europe secured from the possibility of a general war? And what a system is this for Great Britain as an independent nation to adopt! a system which is to render her commercial policy dependent on the general tranquillity of an excited world! Vainly does she disclaim intervention in foreign disputes, if thus foreign disputes are to exercise the most sovereign intervention in her own domestic arrangements. Can this be a policy for a reasonable, for a sane people to follow or permit? But the shallow plea must not avail. The system has already, even in this country, had a fair trial. In 1845, the year preceding Sir Robert Peel's tariff, the exports of British produce and manufactures amounted, in declared value, to 55,308,631. In 1848 they had declined to 48,147,2607. We are aware that the recent Monthly Returns of the Board of Trade exhibit a considerable augmentation, and we know that the exultation of the Free-traders at this supposed indication of reviving prosperity is unbounded. We believe that an impartial review of the circumstances of the times and an analysis of the latest Returns may well check their triumph. The exports of 1848 had fallen off from those of the preceding year by no less than 8,269,9947. Such a defalcation could not continue without leading to a speedy annihilation of our foreign trade. The diminished supply of the Continental markets, coupled with the interruption of Continental production arising from the convulsed state of Europe, had reduced stocks to the lowest amount, and a temporary revival of demand on the restoration of even comparative tranquillity was consequently inevitable. That demand has, for the moment, swelled the amount of our exports. But that it is not destined to be permanent seems already apparent. The value of our exports

in July and August, 1849, had increased over that of the corresponding months of 1848 by no less than 3,824,4957. In the succeeding two months of September and October, the last for which the returns are made up, the increase over that of the corresponding months of 1848 is but 1,786,7961. Again, of the total increase of exports during the ten months of 1849, no less than 1,644,1437. consists of increase in cotton, linen, silk, and woollen yarn, an ominous indication that the Continental looms are reviving to activity. Nor are the Returns of imports, if carefully analysed, less pregnant with warning. On corn the increase of importation in the first ten months of 1849 over the corresponding period of 1848 is enormous, being equal to no less than 9,093,963 qrs., while our own crops have been abundant. But of sugar, though the importation has advanced 196,341 cwt., the quantity entered for home consumption has actually declined 310,032 cwt.; and in similar manner, while the coffee imported has increased 6,053,595 lbs., the quantity taken for home consumption has decreased by 1,896,584 lbs. Thus, domestic plenty being restored, we have an influx of food to the displacement of the produce of our own fields; and, as a consequence of the diminished power of purchase on the part of the home producer, we have an excess of importation of articles of comfort above the quantity required for consumption. We could from these vaunted Returns deduce many other conclusions well calculated to tone down the exultation of the Free-traders. But we must confine ourselves to one other. The fatal Act, repealing the British Navigation Laws, does not come into operation till the 1st of January, 1850; but already, as appears indisputably by these Returns, are foreigners actively preparing to supersede British ships in our carrying trade. Numbers are daily quitting our ports to return when admissible by law with the cargoes which heretofore have given prosperity to our maritime commerce. In the first ten months of 1848 the outward clearances of British ships from our ports amounted to 3,068,851 tons; during the same period of 1849 they are 3,264,887 tons; showing an increase of 196,036 tons, or 6 per cent. In the same period of 1848 the foreign clearances were 1,226,837 tons, and in 1849 we find them to be 1,464,902 tons, showing an increase of 238,065 tons, or 19 per cent. From all these considerations, and many more we could adduce, we at least can see little cause for either triumph or hope in these boasted Returns, which at best we can regard but as a passing gleam illuminating the horizon, black with the approaching tempest.

But in the melancholy picture it has been our duty to trace, does no bright speck present itself, calculated to cheer the desponding observer of the deeds and the signs of the times, and

to

to encourage the patriot in his efforts to check the torrent that seems ready to overwhelm the country with a flood of calamities, engulfing its prosperity, comfort, and national independence? Yes! as in the physical, so in the moral world, the great Disposer of all has decreed that action and reaction shall be equal and contrary. The fever produced by false science' is over-reaction is progressing-and sound philosophy will soon lead to a renova tion of health and vigour. There is no teaching like that of experience; and when every class and every interest of the nation can be asked the simple question, What have you gained by Free Trade? with the certainty that the universal answer will be, Nothing!-it is beyond all question that the Unsound Social Philosophy' we have been combating closely approaches its term. That this is the reviving conviction of the thoughtful we know; that it is the already widely extended, and still rapidly extending determination of the people, we rejoice to perceive. Maddened by the stimulants administered to them by the apostles of a selfish, sordid, and degrading creed, the masses of the British nation have allowed themselves to be rendered the blind instruments for effecting objects which, if faithfully represented to them in their sober moments, they would have discerned to be suicidal. Cheapness was declared to them to be the only blessing, and, typified to them in a cheap loaf, no wonder they surrendered themselves to the delusion. But they have lived to find that it means also cheap labour, and that the cheapest labour will always be that in which the labourer will be content with the smallest portion of the necessaries, conveniences, and comforts of life. Free Trade knows this too, and Free Trade knows also that this cheap labour is not to be found in Britain, and therefore imports it in the shape of produce from abroad, consigning the domestic labourer to displacement from employment, distress, destitution, the Union-poorhouse, or expatriation. To a perception of these truths the masses are everywhere awaking; and by the process of a high moral retribution, as through their agency, under mischievous guidance, the evil was perpetrated, so by their agency, under upright and fearless leading, will the wrong be redressed. This is as it should be; for better is it that the extirpation of the heresy should follow public opinion springing from the intelligence of the people, than that it should be the result of legislation forced forward by the refined and educated classes alone. Yet on these latter, at this momentous crisis of our social history, are devolved duties of no common order. The people must have leaders-and if men of station and influence shrink from identifying themselves frankly and cordially with their more humble fellow-citizens, they must not be surprised if

the

the masses should again fall into the hands of selfish and designing demagogues. Free Trade has failed, and will soon be detested. Cheap Bread has failed, and is distrusted. Cheap Labour is felt to be ruinous. But a cry for Cheap Government may be raised as a new delusion; and when an ex-Minister publicly proclaims that 'contracts, although they may be settled by Act of Parliament, are not binding, if they are not rightly settled,' it is time even for easy fundholders to look about them. With these views we have regarded with deep interest the establishment of the National Association for the Protection of British Industry and Capital.' We have watched its progress with solicitude, and we regard with confident hope the extraordinary success that has attended its efforts. It bids fair to supply all that is needful to the friends of Protection throughout the country-a focus for the concentration of their exertions-directions for ensuring promptitude and unity of action-leaders to conduct them in the right pathpower, vigour, discipline, resolution. The course they have hitherto adopted has been worthy of all praise; and we have seen with pleasure that a momentary cloud threatening division has been dispelled by discreet forbearance, without compromise of consistency, and has led to an important accession of influence and power, and to increased unity of purpose and action.

And now we must conclude. We have in great degree confined ourselves to proving how unsound is the social philosophy embodied in the Free Trade policy. It would be even an easier task to prove its pernicious moral tendencies. It is in its very essence a mercenary, unsocial, demoralizing system, opposed to all generous actions, all kindly feelings. Based on selfishness-the most pervading as well as the most powerful of our vicious propensities-it directs that impulse into the lowest of all channels, the mere sordid pursuit of wealth. It teaches competition and isolation instead of co-operation and brotherhood; it substitutes a vague and impracticable cosmopolitism for a lofty and ennobling patriotism; it disregards the claims of humanity towards the poor, if opposed to the pecuniary interests of the rich; it takes no account of all that should exalt man in the scale of being, but elevates to exclusive importance his most degrading tendencies. Wealth is its end and aim, and Mammon its divinity. We cannot altogether regret with Burke that the age of chivalry is past;' and though we do with him regret that an age of sophists, of economists, and of calculators has succeeded,' we still trust that 'the glory of England is not yet extinguished for ever.'

ART

ART. VI.-1. Raccolta per Ordine Cronologico di tutti gli Atti, Decreti, Nomine, &c., del Governo Prov. della Republica Veneta. Venezia. Andreola, Tipographo del Governo Prov. della Republica Veneta. 1848, 1849. 8 vols. in Svo.

2. Memorie Storico-biographiche di Daniele Manin, Ministro all' Esterno e Presidente del Governo Prov. delle Venezie. Dettata da P. A. Monterossi. Venezia. Venezia. 1848.

3. Un Episode du Passage de la République à Venise, avec des Notes Historiques et des Pièces Justificatives. Par G. Grimaud de Caux. Septembre, 1819.

4. Correspondence respecting the

Affairs of Italy, from January to June 30, 1848. Part II. Presented by command of Her Majesty, July 31, 1849.

THE

HE true cause of the ancient importance and prosperity of Venice lay in her commercial and maritime superiority. The discovery of a new passage to India and the competition of foreign states struck a blow at her eminence, which her crafty statesmen endeavoured in vain to parry by fresh acquisitions on the mainland of Italy. When Venice became a first-rate power on the Peninsula, she had in fact descended from her lofty position. She became involved in the labyrinth of Italian politics, and continued to excite the jealousy and provoke the animosity of neighbouring states till the famous league of her numerous enemies at Cambray put a period to her ill-directed ambition. Glorious as was her resistance to the arms of united Europe, she never recovered from the exhausting contest. Her subsequent story is but the record of persevering struggles against an inevitable destiny, and of ingenious endeavours, by artful diplomacy, to recover ground lost for ever, or at least to conceal the extent of her losses. Meantime the nobles gradually lost their energy, and though they were not condemned to the life of sloth and luxury which was in some measure forced on those of Rome and Milan, yet the tendency of government was to concentrate power in the hands of a few, and for the most part they were content to remain the inactive spectators of measures which, on high occasions only, they were called on to sanction by a vote of the great council. They generally neglected the pursuits of commerce, by which their wealth had originally been amassed. The opinions of the age were unfavourable to this honourable industry, and Italian vanity could ill brook the sneers with which their claims to nobility were treated by the haughty and indolent aristocracies of Spain and Germany.

In the middle of the last century Lord Chesterfield describes the renowned republic as tottering to its fall-primo nutat casura

sub