probably, to some extent, by the yearly balance resulting against Russia
in her dealings with Persia; for the policy of Russia is to favour the
commerce of Asia, whilst oppressing that with Europe, and Persia is
always indebted to Great Britain. She has, however, the game in her own
hands. Can we wonder that she plays it to her own advantage,
half-political, half-commercial? She knows as well as we feel keenly,
that the raw materials, in which she is so rich, are indispensable for
our use; she charges accordingly. The time may come when we shall be
more independent of her, and then, then only, she will conform to
altered circumstances. The able and distinguished diplomatist at her
court, Lord Stuart de Rothesay, who succeeded in the arduous task of
negotiating the recent treaty of navigation with that crafty Government,
is the man also who will not be slow to avail himself of any favourable
conjuncture for turning circumstances to account, and redressing the
adverse balance now against this country.

As before said, our intention, on this occasion, is not to dissect
principles or theories, but to present facts. We have still more in
store for the absolute theory men. But, in concluding, we may be allowed
to observe, that the causes why a restrictive and exclusive system does
answer for Russia, and, on the contrary, tends to the ruin of Spain, are
simply these:--The raw materials of Russia are indispensable for this
and other manufacturing countries, because cheaper and more abundant
than can be elsewhere procured, and the price of labour is low. The raw
products of Spain necessary for manufactures are, on the reverse, dear
priced; her products of luxury, even, are dear; her rates of labour are
higher than in this or any other country of Europe. Two shillings and
sixpence a-day, or fifteen shillings a-week; with, besides Sundays, a
hundred saints' days or holidays in the year, put her labour and produce
quite _hors de combat_ in the race of competition. A Spanish operative
would no more toil on a _dia de dos cruces_, (two saints on one day,)
than he would fast on a feast-day, with an odorous _olla podrida_ before
him on the table.

* * * * *

INDEX TO VOL. LIII.

[Transcriber's note: The page numbers refer to editions 327 to
332, published between January and June 1843, according to the
following table:

Edition 327, pages 1-140, dated January 1843,