" His hostility to the repeal of the Corn
Laws was based not so much upon economic argument superior to
that of Cobden, as upon his fundamental belief that the greatness
of the English nation in all past centuries had been derived from
the wise rule of the aristocratic, land-owning class, and a fond
belief that the retention of the tariff upon imported
agricultural produce would support this ancient pillar of the
constitution. Furthermore, his contention that England's adoption
of free trade would be met by rival nations with high tariffs
against imports of English goods has been borne out by the facts
of subsequent history, against the confident assertion of Cobden
and the Manchester school of economists that the world would soon
follow the lead of England in throwing down all artificial
barriers to the exchange of commodities. Peel carried his bill,
as we have seen, but the protectionists wreaked their vengeance
by overthrowing his government in the moment of victory.
From the hour of his defeat, in 1846, Sir Robert Peel was no
longer a party chief. The Tory aristocracy who had lent their aid
to the fatal coalition against him were led at first by Lord
George Bentinck, but the real director of the organization was
Disraeli. In 1849 he succeeded to the formal leadership of the
Conservative opposition in the House of Commons, and in 1852,
when the Russell ministry went out, he took office under Lord
Derby as Chancellor of the Exchequer, and leader of the House of
Commons.
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