landowners, with one voice, demanded. But political science and liberty advanced together: the one pointing out the true interests of the people: the other ensuring their just consideration.

It was not until fifty years after Adam Smith had exposed what he termed 'the mean and Free trade. malignant expedients of the mercantile system,' that this narrow policy was disturbed. Mr. Huskisson

was the first minister, after Mr. Pitt, who ventured to touch protected interests. A close representation still governed: but public opinion had already begun to exercise a powerful influence over Parliament ; and he was able to remove some protections from the silk and woollen trades,-to restore the right of free emigration to artisans, and to break in upon. the close monopoly of the navigation laws. These were the beginnings of free trade: but a further development of political liberty was essential to the triumph of that generous and fruitful policy. A wider representation wrested exclusive power from the hands of the favoured classes; and monopolies fell, one after another, in quick succession. trade of the East was thrown open to the free enterprise of our merchants: the productions of the world were admitted, for the consumption and comfort of our teeming multitudes : exclusive interests in shipping, in the colonies,-in commerce and manufactures, were made to yield to the public good. But above all, the most baneful of monopolies, and the most powerful of protected interests, were overborne. The lords of the soil, once dominant in Parliament, had secured to themselves a monopoly in the food

The

of the people. To ensure high rents, it had been decreed that multitudes should hunger. Such a

monopoly was not to be endured; and so soon as public opinion had fully accepted the conclusions of science, it fell before enlightened statesmen and a popular Parliament.

The fruits of free trade are to be seen in the marvellous development of British industry. England will ever hold in grateful remembrance the names of the foremost promoters of this new policy, - of Huskisson, Poulett Thomson, Hume, Villiers, and Labouchere, of Cobden and Bright,-of Peel and Gladstone: but let her not forget that their fruitful statesmanship was quickened by the life of freedom. The financial policy of this period was conceived in the same spirit of enlightened liberality; and regarded no less the general welfare and happiness of the people. Industry, while groaning under protection, had further been burdened by oppressive taxes, imposed simply for purposes of revenue. It has been the policy of modern finance to dispense with duties on raw materials, on which the skill and labour of our industrious artisans is exercised. Free scope has been given to productive industry.

Financial

policy.

The employment and comfort of the people have been further encouraged by the removal or reduction of duties on manufactured articles of universal use,-on glass, on bricks and tiles, on soap and paper, and hundreds of other articles.

The luxuries of the many, as well as their food, have also been relieved from the pressure of taxation. Tea, sugar, coffee, cocoa,-nay, nearly all articles

which contribute to the comfort and enjoyment of daily life, have been placed within reach of the poorest. And among financial changes conceived in the interest of the whole community, the remarkable penny postage of Sir Rowland Hill deserves an honourable place. Notwithstanding extraordinary reductions of taxation, the productive energies of the country, encouraged by so liberal a policy, have more than made good the amount of these remissions. Tax after tax has been removed; yet the revenue,ever buoyant and elastic, has been maintained by the increased productiveness of the remaining duties. This policy, the conception of Sir Henry Parnell,— was commenced by Lord Althorp, boldly extended by Sir Robert Peel, and consummated by Mr. Glad

stone.

To ensure the safe trial of this financial experiment, Sir Robert Peel proposed a property-tax, in time of peace, to fall exclusively on the higher and middle classes. It was accepted: and marks, no less than other examples, the solicitude of Parliament for the welfare of the many, and the generous spirit of those classes who have most influence over its deliberations. The succession duty, imposed some years later, affords another example of the self-denying principles of a popular Parliament. In 1796, the Commons, ever ready to mulct the people at the bidding of the minister,—yet unwilling to bear their own proper burthen, refused to grant Mr. Pitt such

In 1842, the customs' tariff embraced 1,163 articles; in 1860, it comprised less than 50, of which 15 contributed nearly the whole

revenue.

a tax upon their landed property. In 1853, the reformed Parliament, intent upon sparing industry, accepted this heavy charge from Mr. Gladstone.

Vast in

crease of

The only unsatisfactory feature of modern finance has been the formidable and continuous expenditure. increase of expenditure. The demands upon the Exchequer,-apart from the fixed charge of the public debt, were nearly doubled during the last ten years of this period.' Much of this serious increase was due to the Russian, Chinese, and Persian wars,-to the vast armaments and unsettled policy of foreign states, to the proved deficiencies of our military organisation, to the reconstruction of the navy,-and to the greater costliness of all the equipments of modern warfare. Much, however, was caused by the liberal and humane spirit of modern administration. While the utmost efficiency was sought in fleets and armies, the comforts and moral welfare of our seamen and soldiers were promoted, at great cost to the state. So, again, large permanent additions were made to the civil expenditure, by an improved administration of justice, a more effective police,-extended postal communications,-the public education of the people, and the growing needs of civilisation, throughout a powerful and wide-spread empire. This augmented expenditure, however, deprived the

1 In 1850, the estimated expenditure was 50,763,583/.; in 1860, it amounted to 73,534,000l. The latter amount, however, comprised 4,700,000l. for the collection of the revenue, which had not been brought into the account until 1856. In the former year the charge of the public debt was 28,105,000l.; in the latter, 26,200,000l. Hence an expenditure of 22,658,5837. at one period, is to be compared with 42,634,000l. at the other.

people of the full benefits of a judicious scheme of taxation. The property tax, intended only as a temporary expedient, was continued; and, however light and equal the general incidence of other taxes,―enormous contributions to the state were necessarily a heavy burden upon the industry, the resources, and the comforts of the people.

Such have been the legislative fruits of extended liberty: wise laws, justly administered: These a beneficent care for the moral and social changes carefully welfare of the people: freedom of trade made. and industry: lighter and more equitable taxation. Nor were these great changes in our laws and policy effected in the spirit of democracy. They were made slowly, temperately, and with caution. They were preceded by laborious inquiries, by discussion, experiments, and public conviction. Delays and opposition were borne patiently, until truth steadily prevailed; and when a sound policy was at length recognised, it was adopted and carried out, even by former opponents.'

Good

Freedom, and good government, a generous policy, and the devotion of rulers to the welfare of the people, have been met with general government confidence, loyalty, and contentment. The content and great ends of freedom have been attained,

promotes

discourages democracy.

1 M. Guizot, who never conceals his distrust of democracy, says: "In the legislation of the country, the progress is immense: justice, disinterested good sense, respect for all rights, consideration for all interests, the conscientious and searching study of social facts and wants, exercises a far greater sway than they formerly did, in the government of England: in its domestic matters, and as regards its daily affairs, England is assuredly governed much more equitably and wisely.'--Life of Sir R. Peel, p. 373.