The reply made by Mr. Charles Villiers to the address
presented to him by the Cobden Club to commemorate the fiftieth anniversary of the repeal of the Corn-laws, published in last Saturday's papers, is a most interesting and impressive document. After quoting Peel's declaration made in 1846, that he had deliberately adopted one-sided Free-trade because he found his efforts to carry commercial treaties unavailing, and that he had resolved to consult our own interests, and not to attempt to punish other countries for the wrong they do us, Mr. Villiers goes on to cite another very striking passage from a speech made by Peel in 1849. Here Sir Robert shows
'how baying in an artificially dear market—i.e., in a market made dear by Protection—wastes the wealth and so diminishes the capital of a country. If, said Mr. Villiers, he were asked for proofs of the benefits of Free-trade, he should answer in one word, " Cireunispice." Our trade has vastly expanded since we adopted Free-trade, and wages have not only risen, -hut their purchasing capacity has also greatly increased. Mr. Villiers ends his striking and, considering his weight of years, pathetic address with an expression of his belief that we need have no fears in regard to a return to Protection. "In the words of Sir Robert Peel, I say, It is my consolation that never will such a Corn-law be again enacted in England.'"
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