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428 to become, immediately and ardently, united with you in the national contest for the repeal of the bread tax.

"The League congratulates you on the adoption of the above metropolitan resolution, and recognizes the same enlightened object, so forcibly advocated in a memorable petition of your citizens, on a similar occasion, in the year 1820. A quarter of a century since, it was the proud distinction of the merchant citizens of London to lead the way in the path of free trade. We recalrecall [sic] to your minds the following imperishable principles of that petition,—the goodly seed which has since yielded invaluable fruit:

"'That foreign commerce is eminently conducive to the wealth and prosperity of a country, by enabling it to import the commodities for the production of which the soil, climate, capital, and industry of other countries are best calculated, and to export, in payment, those articles for which its own situation is better adapted.

"'That the maxim of buying in the cheapest market and selling in the dearest, which regulates every merchant in his individual dealings, is strictly applicable as the best rule for the trade of the whole nation.

"'That, unfortunately, a policy the very reverse of this, has been, and is,more or less adopted and acted upon by the government of this and every other country, each trying to exclude the productions of other countries, with the specious and well-meant design of encouraging its own productions; thus inflicting on the bulk of its subjects, who are consumers, the necessity of submitting to privations in the quantity or quality of commodities, and thus rendering what ought to be the source of mutual benefit and of harmony amongst states, a constantly recurring occasion of jealousy and hostility.

"' That an investigation of the effects of the restrictive system at this time, is peculiarly called for, as it may, in the opinion of the petitioners, lead to a strong presumption that the distress which now so generally prevails is considerably aggravated by that system.

"'That in declaring, as your petitioners do, their conviction of the impolicy and injustice of the restrictive system, and in desiring every practicable relaxation of it, they have in view only such parts of it as are not connected, or are only subordinately so, with the public revenue. It is against every restrictive regulation of trade not essential to the revenue; against all duties merely protective from foreign competition; and against the excess of such duties as are partly for the purpose of