§ MR. NORRIS (Tower Hamlets, Limehouse)asked the First Lord of the Treasury, Whether, with reference to the depressed state of trade and agriculture, the Government will consider, during the Recess, if it is possible to make some modification in the present fiscal system, 1727 with a view to ameliorate the condition of our home industries, and to come to such arrangements with Foreign Powers as will secure a fair and equitable readjustment of existing arrangements consistent with the principles of sound and reciprocal Free Trade; and, in view of the proposed Conference on the Foreign Bounty Question, if he can state whether the Conference will be held in London, if evidence will be invited from these most interested, and if a speedy settlement will be pressed?
§ THE FIRST LORD (Mr. W.H. SMITH) (Strand, Westminster)It will certainly be the duty of the Government to consider the depressed state of trade, and especially of agriculture; but it is equally their duty to abstain from entering into engagements, or holding out expectations, which it may not be in the power of any Government to fulfil. I cannot exaggerate the importance of the subject, and it is on that account that I speak with guarded language. It is not possible for the Government to say whether the Conference on Foreign Bounties will be held in London. No efforts will be wanting on the part of the Government to bring about an early decision.