Chapter III: 53-80

High estimate abroad of English Navigation Laws—Change necessary, owing to the Independence of America—Other nations at first Protectionist—Mr. Pitt’s proposals with reference to trade with America—Mr. Pitt resigns, and a temporary Act ensues—Shipowners and loyalists in America successfully resist his scheme—Congress the first to retaliate—Restrictions injurious, alike, to England and her Colonies—Commercial treaties with America between 1794 and 1817—Acts of 1822 and 1823, and further irritation in America—Order in Council, July 1826—Conciliatory steps of the Americans in 1830—Foreigners look with suspicion on any change in the Navigation Laws—Reciprocity treaties of 1824-6—Value of treaties in early times, but inadequate for the regulation of commercial intercourse, and liable to unfair diplomacy—Reciprocity treaties only, partially, of value, and do not check the anomalies of Protection—Committee of 1844-5 promoted by the Shipowners, who seek protection against Colonial shipping—Reciprocity must lead to free navigation—New class of Statesmen, well supported by the People—Exertions of Lord John Russell, who leads the way against Protection—Richard Cobden and the Anti-Corn-Law League—John Bright—Effect of the Irish famine, 1845-6—Sir Robert Peel carries the Repeal of the Corn Laws, and resigns.

CHAPTER IV. 81-109

Lord John Russell’s first steps as Prime Minister: the Equalization of the Sugar Duties—He suspends the Navigation Laws, January 1847—Mr. Ricardo’s motion, February 1847—Reply of Mr. Liddell—Mr. Ricardo’s motion carried—Committee appointed, February 1847—Meeting of the shipowners, August 12, 1847—Their arguments—What constitutes “British ships”—State of Navigation Laws in 1847—Rules in force in the Plantation Trade—Their rigorous character—Their history from 1660 to 1847—First infringement of the principle of confining the American trade to British vessels—Absurdity and impotency of these laws—State of the law before the Declaration of American Independence—Trade with Europe—Modifications of the law—East India Trade and Shipping—Trade with India in foreign and in United States ships even from English ports—Coasting trade—Summary of the Navigation Laws.