In
a moment of unreasoning panic there was some danger of the adoption of a
reactionary policy--a step that would have lost to the country those
blessings which it subsequently enjoyed as the outcome of Free Trade."
May 15, Mr. Labouchere, President of the Board of Trade, proposed a plan
for the modification of the navigation laws. Reserving the coasting
trade and fisheries of Great Britain and the Colonies, it was proposed
"to throw open the whole navigation of the country, of every sort and
description." But the Queen claimed the right of putting such
restrictions as she saw fit upon the navigation of foreign countries, if
those countries did not meet England on equal terms; and that each
colony should be allowed to throw open its coasting trade to foreign
countries. Mr. Gladstone made a lengthy speech, examining closely the
operation of existing laws, and showing the necessity for their repeal.
With regard to the power claimed by the Queen in Council, with a view to
enforcing reciprocity, Mr. Gladstone said, "I confess it appears to me
there is a great objection to conferring such a power as that which is
proposed to be given to the Queen in Council." He contended also for a
gradual change in the laws.
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