The free-traders say that there is no general reaction against their principles, and that the formation of a government on protectionist principles is at present impossible. We shall not inquire, and have not the means of knowing, whether or not this statement is well founded. We are willing to accept the statement as true, and we perceive a great social revolution, accompanied with infinite present suffering, but most important ultimate results, growing from their obstinate adherence to their principles in defiance of the lessons of experience. _The free-traders are with their own hands destroying the commercial classes, which had acquired an undue preponderance in the state._ They must work out their own punishment before they abjure their principles. Every day a free-trading merchant or shopkeeper is swept into the _Gazette_, and his family cast down to the humblest ranks in society. They go down like the Fifth Monarchy men when expelled from the House of Commons by the bayonets of Cromwell, or the Girondists when led to the scaffold by the Jacobins, chanting hymns in honour of their principles when perishing from their effects:--
"They are true to the last of their blood and their breath, And, like reapers, descend to the harvest of death."
But this constancy of individuals when suffering under the measures they themselves have introduced, however curious and respectable as a specimen of the unvarying effect of fanaticism, whether religious or social, on the human mind, cannot permanently arrest the march of events; it cannot stop the effect of their own measures, any more than the courage of the Highlanders in 1745 could prevent the final extinction of the Jacobite cause. Let them adhere to free trade and a fettered currency as they like, the advocates of the new measures are daily and hourly losing their influence. Money constitutes the sinews of war not less in social than in national contests. No cause can be long victorious which is linked to that worst of allies, INSOLVENCY. In two years the mercantile classes have destroyed one-half of their own wealth; in two years more, one-half of what remains will be gone. Crippled, discredited, ruined, beat down by foreign competition, exhausted by the failure of domestic supplies, the once powerful mercantile body of England will be prostrate in the dust. All other classes, of course, will be suffering from their fall, but none in the same degree as themselves. It is not improbable that the land may regain its appropriate influence in the state, by the ruin which their own insane measures have brought upon its oppressors. No one will regret the lamentable consequences of such a change, already far advanced in its progress, more than ourselves, who, have uniformly foretold its advent, and strenuously resisted the commercial and monetary changes which, amidst shouts of triumph from the whole Liberal party, were silently but certainly inducing these results.