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The debate, March 1849—Speech of Mr. Herries—Mr. J. Wilson—Question of reciprocity—Doubtful even in the case of shipping—Difficulty of the "Favoured-nation" clause—Marquess of Granby—Mr. Cardwell—Mr. Henley—Mr. Gladstone—Burdens to be removed from Shipowners—Conditional legislation recommended—Views on the subject of the coasting trade—Americans not Free-traders—Smuggling in the coasting trade—Mr. Robinson—Mr. Clay—Mr. T. A. Mitchell—Mr. Hildyard—Mr. Ricardo—Mr. H. Drummond—Mr. Labouchere's reply—Majority of 56 for Bill—Committee on the Bill—Coasting clauses withdrawn-Mr. Bouverie's amendment, opposed by Shipowners' Committee—Mr. Gladstone's scheme, also opposed by the Shipowners—Questions of reciprocity, conditional legislation, and retaliation—Details of American Law—Mr. Bouverie's plan rejected—Mr. Disraeli's speech—Third reading of Bill—Mr. Herries' speech—Mr. Robinson—Mr. Walpole—Sir James Graham—Mr. T. Baring—Lord J. Russell—Mr. Disraeli—Majority for Bill, 61.

The House of Commons, though seldom much interested in maritime and, as was conceived, in intricate questions, was, on this occasion, full to the overflowing. The subject was, indeed, one of crowning interest. The repeal of the Navigation Laws would, as the extreme Free-traders had remarked, sweep away "the last rag of Protection;" as others more pompously had expressed it, would form the "capital of that majestic column of unfettered com