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had occasion to direct my attention to the consideration of the subject of the commerce of this country, and the effects upon it of those duties which had been established with a view to the protection of certain branches of our manufactures, and also of certain articles the produce of the country. Since that period I have not only never lost sight of the question, but various opportunities have occurred which have afforded me the means of examining more carefully into it; and I have not the slightest hesitation in stating it to be my firm conviction, that what are miscalled protecting duties, are in reality only so many impediments in the way of commerce, favouring but little, if at all, the parties intended to be favoured by them, and for the most part having the effect only of taking money out of the pockets of one party and putting it in the pockets of another.
From what I have just said, it will not, I hope, be supposed that I am rash or visionary enough to desire hastily to do away with all duties of this description now existing, or that I would not whilst protection is afforded to one party extend the same indulgence to another. I am well aware that large capitals have been expended on the faith of the system of protection, and large establishments have arisen under it. The consequence of too sudden a departure from it might,
