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 do not want. There is not much fear of such an eventuality, however, for I do not believe the people of this country would put up with such intolerable tyranny.

As you know, complaints have been heard of the woollen manufactures of Bradford having passed away to their French rivals. But what are the facts? As I gather them, they stand thus. We find that British alpaca or lustre has been superseded by French merino. Some years ago alpaca was in high favour. Now it is neglected, and the soft woollen worsteds of France have superseded it. How was this? As I read it, it was because, when alpaca was formerly made of pure fine lustrous wools only, it was in favour; but when manufacturers, aiming at cheap production and high profits, mixed the new wool with cotton, they produced nothing but a shoddy, which soon lost favour. Our French competitors, it appears, saw their opportunity; they bought their wools in our own market in London, they took it to France, adopted for it new machinery, and every process which promised improvement, sought for and found new dyes, inventing soft half-tints and subdued shades of colour, and then brought it back to us made up into those fabrics which are now so much in vogue, and which are known by the name of French merinos and cashmeres. Now, I wish to ask whether this is creditable to us as manufacturers? There can be no question that, from some cause' or other, our manufacturers have allowed the French to steal a march on them. Let them meet the modern demand by doing as the French have done; let them adapt their machinery, and study new processes, and, depend upon it, we shall then hear very little about French competition in this department.

Now, having thus disposed of the Fair Trader's argument for taxing foreign manufactures, let me say a few words respecting his assertion that our excess of imports is to be considered the measure of our national loss. We now, on the average, import more than we export considerably over 100 millions' worth of commodities annually. We Free Traders say that instead of its being a loss to us, it is a profit to us, and that if we did not get in this excess of value we