> AY

LIFE OF COBDEN. {orAP

1842. Peel concluded a long exposition with a statement of thos?
Zr. 88. general ideas about an economic and national system,
which his proposals rested. They were these. It is of th
highest importance to the welfare of all classes in this countrys
that care should be taken that the main sources of you
supply of corn should be derived fromedomestic agricultur®
The additional price which you may pay in effecting that
object, cannot be vindicated as a bonus or premium to agri”
culture, but only on the ground of its being advantageous ¥*
the country at large. The agriculturist has special burdens
and you are entitled to place such a price on foreign corn 8
is equivalent to these special burdens. Any additional profection
 to them can only be vindicated on the ground that
it is for the interest of the country generally. And it is fo*
the interest of all classes that we should be paying occ?
sionally a small additional sum upon our own domestic pro”
duce, in order that we may thereby establish a security and
insurance against the calamities that would ensue if We
became altogether, or in a great part, dependent upo?
foreign countries for our supply.®
When the Minister sat down, Lord John Russell said #
few formal words, and Peel added some explanation which
took & moment or two. Cobden, according to a hostil®
reporter, had been “looking very lachrymose all the ever
ing,” and he now rose—it is interesting to notice conte”
porary estimates of important men whose importance ha?
not yet been stamped—* for the purpose of inflicting 01°
of his stereotyped harangues on the House.” He did not

propose, when corn is at 50s., thet the duty shall only be 20s., and thet
that duty shall in no case be exceeded. (Hear, hear.) At 56s. the existing
duty is 80s. 8d.; the duty I propose at that price is 16s. At 60s. t5°
existing duty is 26s. 8d. ; the duty I propose at that price is 12s. At 65%
the existing duty is 23s. 8d. ; the duty I propose is 9s. At 64s. the existing
duty is 22s. 8d.; the duty I propose is 8s. At 70s. the existing duty 3
10s, 8d. ; the duty I propose is Es."
tt Februsry 9, 184%.