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.