ABSTRACT
In 1847, there was severe commercial distressin England, and a financial panic such as it had been hoped the Bank Act of 1844 would never permits to see again. The years 1846 and 1847 were, however, years of adversity, keenly felt after the wild glee of speculation which had prevailed in 1845. The commercial depression deepened from month to month, at a time when the misery of Ireland was a sufficient burden for any people and any government to have to bear. The election which ensued was characterized at the time as the quietest on record; yet it introduced into public life an unusual proportion of new members. There were few conflicts on specific questions: but old men took the opportunity of a new era in British policy to retire; and men who were deeply pledged, or unchangeably attached to a Protectionist policy, had no inducement to remain.
