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THE

QUARTERLY REVIEW.

JANUARY, 1821.

Art. I.-1. First Report from the Select Committee of the

House of Lords, appointed to inquire into the Means of extend

ing and securing the Foreign Trade of the Country. 2. Report from the Select Committee of the House of Commons,

appointed to consider of the Means of maintaining und improving

the Foreign Trade of the Country. 3. The Speech of the Right Hon. the Earl of Liverpool on the Means of extending and securing the Foreign Trude of the

Country: 4. Reflections on the present Difficulties of the Country, and on

relieving them by opening new Markets to our Commerce, and removing all injurious Restrictions. By an Old Asiatic Mer

chant. 5. Observations on the injurious Consequences of the Restrictions upon Foreign Commerce. By a Member of Parliament. UESTIONS of commercial policy have been lately treated

in so abstract a manner that their connection with common life and practice seems to be entirely forgotten. Speculative writers send forth from their closets general propositions and paradoxical dogmas upon matters relative to the common intercourse of the world, with the most confident affirmation of their universal applicability. They find supporters in persons of rank and influence, pleased with this sort of royal road to geometry;' while practical men, too much occupied to weigh theoretical notions of this difficult nature, or to examine their operation in the varied and conflicting movements of traffic and national interests, add their conclusive assent. The adopted opinions thus acquire general reception, and are promulgated as undisputed and unconditional truth, and the sole panacea for existing evils.

Our forefathers could not maintain with greater zeal, that a favourable balance of trade and an abundant circulation of the precious metals were essential to prosperity, than has recently been manifested for the necessity of universal freedom of trade, with a view to the attainment of the same object. We wish to draw attention, in some detail, to the bearings and consequences of this doctrine in its application to the affairs of life, and to trace out the modifications to which it may be open in practice. It is not VOL. XXIV. NO. XLVIll.

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