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cial advantages, but would manfully pursue that course which was most conducive to British interests. He admitted that the surplus of the revenue for the coming year was less than he could have wished it to be; and therefore, while he recommended to his successors the application of the principles of commercial policy adopted during the present Session, he would not urge them to that simultaneous adoption of them which would either be injurious to interests which had long been accustomed to protection, or would create a derangement in either the revenue or currency of the country. He was now speaking of his own intentions rather than of the intentions of others; but he could not doubt that those who had supported him would give the same support to similar measures proposed by others. He did not think it necessary that he should make any other observations; but he could not surrender the power, which he had now wielded during five years, without expressing a hope that, during that time, neither the interests nor the honour of the country had been compromised. He thought that he could say, with truth, that in that time the burdens of taxation had been equalized; that many restrictions on commerce affecting trade injuriously had been removed; and that, without interfering at all with legitimate speculation, stability had been given to our monetary system by measures passed for the regulation of the Bank of England, the joint-stock banks, and the private banks of the country-measures which had met the general support of all parties. He trusted, also, that the stability of our Indian empire

had not been affected by the policy of the Government, and that the glory of the British arms, by sea and land, had been maintained in every part of the globe by the achievements of our soldiers and sailors. Although there had been great reductions in the public burdens, yet he had great satisfaction in saying that the national defences had been improved by sea and land, and that the army and the navy were now in a most efficient state. He hoped that he might congratulate the House upon the fact that the finances of the country were in a buoyant state, and that the return of the revenue, for the quarter ending on the 5th of next July, showing as it did an increased consumption of articles, had supplied the void occasioned by the remission of certain articles of taxation. He thought that he might also say, that without any harsh enforcement of the law, there had been as great obedience to it in Great Britain as at any former period of our history-nay, more, that in consequence of the people having a greater command over the necessaries of life, there had been more of contentment and less of seditious crime during his Administration than at any previous time. After paying a just and well-deserved compliment to the Earl of Aberdeen, for his successful maintenance of a peaceful policy, he expressed a hope that he had left the foreign relations of the country in a satisfactory condition. Not only France, but all the other great powers of Europe, were desirious to co-operate with us in the maintenance of peace. Could he have entertained any private wish for the continuance of his own Go

vernment in office, he could have wished it to survive the day on which intelligence should be received from the United States as to the result of our last attempt to close the differences between Great Britain and the United States. He then recounted to the House how, within two days after the British Government had received from the President of the United States the notice that the existing convention about the Oregon territory was to terminate at the close of twelve months, accompanied with a declaration that the notice was given in the hope that it might lead to an amicable termination of all disputes, Her Majesty's Government had not hesitated, although its offer of arbitration had been refused, to specify frankly, and at once, the terms on which it would consent to the partition of that territory. The President of the United States, on receiving our terms, had referred them at once to the Senate; and the Senate, acting in the same spirit of patriotism as the President, immediately advised that they should be accepted. He then stated the two main articles in the convention to be, first, that the line of boundary between the British and American territory should be continued along the 49th parallel of north latitude to the middle of the channel which separates the continent from Vancouver's Island, and thence southerly to the Pacific Ocean, off Fuca, south of that latitude, open to both parties; and secondly, that the navigation of the great northern branch of the Columbia should be free and open to all British subjects. That very day, on returning from the Isle of Wight, he had had

the satisfaction of receiving from Mr. Pakenham an official letter, dated Washington, the 13th June, informing him that the conditions offered by Her Majesty's Government had been accepted by the Government of the United States, without the addition or alteration of a single word. Thus the Governments of two great nations, both impelled by public opinion, had by their moderation and spirit of mutual conciliation averted a war, which was in danger of breaking out between them, in spite of their common blood and common language, and which, if it had broken out, would not have lasted long without involving Europe in its desolation. Mentioning, as he passed along, that the Earl of Aberdeen had intimated to the United States his desire of employing our good offices to mediate between them and Mexico, Sir Robert Peel concluded this part of his subject by expressing his gratification that, before he surrendered his power, he could assure the House that every chance of war with the United States was terminated with honour to this country.

Sir Robert Peel concluded his address in these words :

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cial advantages, but would manfully pursue that course which was most conducive to British interests. He admitted that the surplus of the revenue for the coming year was less than he could have wished it to be; and therefore, while he recommended to his successors the application of the principles of commercial policy adopted during the present Session, he would not urge them to that simultaneous adoption of them which would either be injurious to interests which had long been accustomed to protection, or would create a derangement in either the revenue or currency of the country. He was now speaking of his own intentions rather than of the intentions of others; but he could not doubt that those who had supported him would give the same support to similar measures proposed by others. He did not think it necessary that he should make any other observations; but he could not surrender the power, which he had now wielded during five years, without expressing a hope that, during that time, ncither the interests nor the honour of the country had been compromised. He thought that he could say, with truth, that in that time the burdens of taxation had been equalized; that many restrictions on commerce affecting trade injuriously had been removed; and that, without interfering at all with legitimate speculation, stability had been given to our monetary system by measures passed for the regulation of the Bank of England, the joint-stock banks, and the private banks of the country-measures which had met the general support of all parties. He trusted, also, that the stability of our Indian empire

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had not been affected by the policy of the Government, and that the glory of the British arms, by sea and land, had been maintained in every part of the globe by the achievements of our soldiers and sailors. Although there had been great reductions in the public burdens, yet he had great satisfaction in saying that the national defences had been improved by sea and land, and that the army and the navy were now in a most efficient state. hoped that he might congratulate the House upon the fact that the finances of the country were in a buoyant state, and that the return of the revenue, for the quarter ending on the 5th of next July, showing as it did an increased consumption of articles, had supplied the void occasioned by the remission of certain articles of taxation. He thought that he might also say, that without any harsh enforcement of the law, there had been as great obedience to it in Great Britain as at any former period of our history-nay, more, that in consequence of the people having a greater command over the necessaries of life, there had been more of contentment and less of seditious crime during his Administration than at any previous time. After paying a just and well-deserved compliment to the Earl of Aberdeen, for his successful maintenance of a peaceful policy, he expressed a hope that he had left the foreign relations of the country in a satisfactory condition. Not only France, but all the other great powers of Europe, were desirious to co-operate with us in the maintenance of peace. Could he have entertained any private wish for the continuance of his own Go

vernment in office, he could have wished it to survive the day on which intelligence should be received from the United States as to the result of our last attempt to close the differences between Great Britain and the United States. He then recounted to the House how, within two days after the British Government had received from the President of the United States the notice that the existing convention about the Oregon territory was to terminate at the close of twelve months, accompanied with a declaration that the notice was given in the hope that it might lead to an amicable termination of all disputes, Her Majesty's Government had not hesitated, although its offer of arbitration had been refused, to specify frankly, and at once, the terms on which it would consent to the partition of that territory. The President of the United States, on receiving our terms, had referred them at once to the Senate; and the Senate, acting in the same spirit of patriotism as the President, immediately advised that they should be accepted. He then stated the two main articles in the convention to be, first, that the line of boundary between the British and American territory should be continued along the 49th parallel of north latitude to the middle of the channel which separates the continent from Vancouver's Island, and thence southerly to the Pacific Ocean, off Fucà, south of that latitude, open to both parties; and secondly, that the navigation of the great northern branch of the Columbia should be free and open to all British subjects. That very day, on returning from the Isle of Wight, he had had

the satisfaction of receiving from Mr. Pakenham an official letter, dated Washington, the 13th June, informing him that the conditions offered by Her Majesty's Government had been accepted by the Government of the United States, without the addition or alteration of a single word. Thus the Governments of two great nations, both impelled by public opinion, had by their moderation and spirit of mutual conciliation averted a war, which was in danger of breaking out between them, in spite of their common blood and common language, and which, if it had broken out, would not have lasted long without involving Europe in its desolation. Mentioning, as he passed along, that the Earl of Aberdeen had intimated to the United States his desire of employing our good offices to mediate between them and Mexico, Sir Robert Peel concluded this part of his subject by expressing his gratification that, before he surrendered his power, he could assure the House that every chance of war with the United States was terminated with honour to this country.

Sir Robert Peel concluded his address in these words :

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cial advantages, but would manfully pursue that course which was most conducive to British interests. He admitted that the surplus of the revenue for the coming year was less than he could have wished it to be; and therefore, while he recommended to his successors the application of the principles of commercial policy adopted during the present Session, he would not urge them to that simultaneous adoption of them which would either be injurious to interests which had long been accustomed to protection, or would create a derangement in either the revenue or currency of the country. He was now speaking of his own intentions rather than of the intentions of others; but he could not doubt that those who had supported him would give the same support to similar measures proposed by others. He did not think it necessary that he should make any other observations; but he could not surrender the power, which he had now wielded during five years, without expressing a hope that, during that time, neither the interests nor the honour of the country had been compromised. He thought that he could say, with truth, that in that time the burdens of taxation had been equalized; that many restrictions on commerce affecting trade injuriously had been removed; and that, without interfering at all with legitimate speculation, stability had been given to our monetary system by measures passed for the regulation of the Bank of England, the joint-stock banks, and the private banks of the country-measures which had met the general support of all parties. He trusted, also, that the stability of our Indian empire

had not been affected by the policy of the Government, and that the glory of the British arms, by sea and land, had been maintained in every part of the globe by the achievements of our soldiers and sailors. Although there had been great reductions in the public burdens, yet he had great satisfaction in saying that the national defences had been improved by sea and land, and that the army and the navy were now in a most efficient state. He hoped that he might congratulate the House upon the fact that the finances of the country were in a buoyant state, and that the return of the revenue, for the quarter ending on the 5th of next July, showing as it did an increased consumption of articles, had supplied the void occasioned by the remission of certain articles of taxation. He thought that he might also say, that without any harsh enforcement of the law, there had been as great obedience to it in Great Britain as at any former period of our history-nay, more, that in consequence of the people having a greater command over the necessaries of life, there had been more of contentment and less of seditious crime during his Administration than at any previous time. After paying a just and well-deserved compliment to the Earl of Aberdeen, for his successful maintenance of a peaceful policy, he expressed a hope that he had left the foreign relations of the country in a satisfactory condition. Not only France, but all the other great powers of Europe, were desirious to co-operate with us in the maintenance of peace. Could he have entertained any private wish for the continuance of his own Go

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