§ Mr. LabouchereI am anxious to ask whether the right hon. Baronet can communicate any information respecting two other commercial treaties, which have long been the subject of negotiation between the British Government and the Governments of France and Portugal. The right hon. Baronet must feel how injurious this long suspense must be, and how desirable it is that an end should be put to it. I should be glad, therefore, if it were in the power of the right hon. Baronet, that he should give a satisfactory assurance to the House of the probable termination of the negotiations. From a late declaration of M. Guizot, that statesman appears to entertain some hope that the negotiations between this country and France may be brought to a satisfactory conclusion; and I shall be glad if the right hon. Gentlemen can confirm that declaration, or can hold out a hope that a more liberal system of commercial policy will be adopted between the two countries than that which now prevails.
§ Sir R. PeelI concur with the right hon. Gentleman in lamenting the long delay which has taken place in these negotiations. With regard to the commercial treaty with Portugal, that delay has been most injurious to trade. At the same time, being convinced of the policy of securing to both countries the reciprocal advantages to be derived from the extension of commerce, the Government has been most unwilling to break off the negotiations. But they have remained so long in suspense, that it is now almost a doubt whether it would not have been better to close the correspondence than submit to the inconvenience of so long a delay. The negotiations are still going on. Within a few days we have received new proposals from the Portuguese government, and the time will shortly arrive when her Majesty's Government will feel it necessary to break off the negotiations, unless they can be brought to an issue. I am convinced that the delay which has occurred with respect to the negotiations with Portugal, by paralysing the wine trade, has materially affected the revenue, and is one cause of the deficiency which we have reason to lament. With respect to France, I have the satisfaction to state that negotiations for effecting a commercial treaty with that country have been renewed, and have been received with that degree of favour which leads her Majesty's Government to hope that a beneficial arrangement may be made. Her Majesty's Government feel deeply that the advantages of such an arrangement should not be confined to mere commercial transactions, but that it should be the means of cementing more closely the ties of friendly connection between the two countries, and, though I wish not to speak with undue confidence, I sincerely hope that a sense of the common interests of both countries will finally lead to more extended commercial intercourse between them.