§ Lord Althorp
said, he took that opportunity of making a few observations which were probably expected from him. He wished to state the arrangement which he had now made with regard to the Cotton Trade. On a former night he had been asked a question on this subject, and had declined to answer the question until he had seen the deputation from Manchester. That deputation had been in town—he had had a communication from the members of it, and he believed he had settled the matter to their satisfaction. The mode in which he now proposed to regulate the trade was, to take off immediately the tax on Printed Cottons, and to convert the ad valorem duty of six per cent to five-eighths of a penny on cotton now imported, and not to allow the drawback. That would not have the effect of making any alteration with regard to East-India cottons. He ought to add, that he intended to allow the drawback on exportation for the space of three months.