Page:History of merchant shipping and ancient commerce (Volume 3).djvu/81



High estimate abroad of English Navigation Laws—Change necessary, owing to the Independence of America—Other nations at first Protectionist—Mr. Pitt's proposals with reference to trade with America—Mr. Pitt resigns, and a temporary Act ensues—Shipowners and loyalists in America successfully resist his scheme—Congress the first to retaliate—Restrictions injurious, alike, to England and her Colonies—Commercial treaties with America between 1794 and 1817—Acts of 1822 and 1823, and further irritation in America—Order in Council, July 1826—Conciliatory steps of the Americans in 1830—Foreigners look with suspicion on any change in the Navigation Laws—Reciprocity treaties of 1824-6—Value of treaties in early times, but inadequate for the regulation of commercial intercourse, and liable to unfair diplomacy—Reciprocity treaties only, partially, of value, and do not check the anomalies of Protection—Committee of 1844-5 promoted by the Shipowners, who seek protection against Colonial shipping—Reciprocity must lead to free navigation—New class of Statesmen, well supported by the People—Exertions of Lord John Russell, who leads the way against Protection—Richard Cobden and the Anti-Corn-Law League—John Bright—Effect of the Irish famine, 1845-6—Sir Robert Peel carries the Repeal of the Corn Laws, and resigns.

In proceeding to consider the great alterations in the ancient commercial system of England which have ultimately led to the entire abrogation of the Navigation Laws, it is advisable to trace their remarkable history under several distinct heads, premising, however, that, previously to 1844, their complete repeal had probably not suggested itself to