Page:History of merchant shipping and ancient commerce (Volume 3).djvu/19

Many banks stop payment—Shipowners' Society still attribute their
disasters to the repeal of the Navigation Laws—Meeting of Shipowners,
December 15th, 1858—Their proposal—Resolution moved
by Mr. G. F. Young—Mr. Lindsay moves for Committee of Inquiry—Well-drawn
petition of the Shipowners—Foreign governments and
the amount of their reciprocity—French trade—Spanish trade—Portuguese
trade—Belgian trade—British ships in French and
Spanish ports—Coasting trade—Non-reciprocating countries—Presumed
advantage of the Panama route—Question discussed—Was
the depression due to the withdrawal of Protection?—Board of
Trade report and returns—English and foreign tonnage—Sailing
vessels and steamers in home and foreign trades—Shipping accounts,
1858—Foreign and Colonial trades—Probable causes of the depression
in England and America—American jealousy and competition—Inconclusive
reasoning of Board of Trade—Government proposes
to remove burdens on British shipping—Compulsory reciprocity
no longer obtainable—Real value of the Coasting trade of the United
States—Magnanimity of England in throwing open her Coasting
trade unconditionally not appreciated by the Americans. 352-385


CHAPTER XIV.

Further returns of the Board of Trade, and address of the Shipowners'
Society to the electors, 13th April, 1859—Shipowners' meeting in
London—Character of the speeches at it—Mr. Lindsay proposes an
amendment—Effect of the war between France and Austria—Mr.
Lindsay moves for an inquiry into the burdens on the Shipping
Interest, 31st January, 1860—Report of the Committee thereon—Views
with regard to foreign countries—The Netherlands—The
United States—Generally unsatisfactory state of the intercourse with
foreign nations—The present depression beyond the influence of
Government—General results of Steamers versus Sailing Vessels—The
Committee resists the plan of re-imposing restrictions on the
Colonial Trade—Difficulty of enforcing reciprocity—Want of energy
on the part of the English Foreign Office—Rights of belligerents—Privateering
abolished in Europe; America, however, declining to
accept this proposal—Views of the Committee thereon, and on the
liability of Merchant Shipping—Burden of light dues—Pilotage—Charges
made by local authorities now, generally, abolished, as well
as those of the Stade dues—The report of 1860, generally, accepted
by the Mercantile Marine—Magnificent English Merchant Sailing
vessels, 1859-1872—The Thermopylæ—Sir Lancelot and others—Americans
completely outstripped—Equal increase in the number as
well as the excellence of English shipping—Results of the Free-trade
policy. 386-421