Page:History of merchant shipping and ancient commerce (Volume 3).djvu/98

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shipping. Curiously enough, the chief complaint of the shipowners, in this instance, was against the privileges granted to colonial-built ships, the owners of which were, of course, on the same footing as those of vessels built in the United Kingdom. It was alleged that the latter, as costing a great deal more, were unable to compete successfully with the less costly ships of North America, and, therefore, legislative protection was sought, on the ground that the competition of these ships had materially lowered the rates of freight.

The Committee of 1844 was appointed at the instance of Mr. Lyall, a shipowner, and one of the Members for London; and, although it sat during the whole Session, it reported that, from unforeseen circumstances, it had been prevented from going fully into the matter, and requested re-appointment in the following Session, which was acceded to. But, as about this time, after a long period of depression, prosperity returned to the shipping interest, employment for ships having become better, while, in many important trades, the rates of freight had advanced, the inquiry by the Committee, under such auspicious circumstances, was allowed to drop. It was, however, plain enough from the temper of Parliament, that no recurrence would be permitted to anti-colonial protective measures.

The General Shipowners' Society attributed this prosperity to the guano trade, which had recently arisen on the coast of Africa; but other and far more influential causes had been at work. The treaties of reciprocity had, with all their imperfec-*