Question 1
Using these four sources in their historical context, assess how far they support the view that
Peel’s financial and economic policies enjoyed widespread support.
Source A: A political diarist of the period, records his judgement on Peel’s speech in the House of Commons on the Budget.
Peel brought forward his financial plans in a speech acknowledged by everybody to have been a masterpiece of financial statement. A few people expected an income tax, but the majority did not. Hitherto, the Opposition have been talking about opposing all taxes, but they have quite altered their tone. It is really remarkable to see the attitude Peel has taken in this Parliament and his complete mastery over both his friends and his foes. His own party have surrendered entirely. This great measure establishes his Government on such a foundation that only an accident can shake.
Charles Greville, The Greville Papers, 13 March 1842
Source B: In a letter written to her brother, the wife of a leading Whig politician expresses her views about Peel’s Budget.
The Income Tax is sure to pass, though Peel has completely failed in proving any necessity for it. To make the deficiency greater Peel proposes to give up £600,000 of duty on timber, to which nobody had objected. There is a great fancy for the income tax amongst those who have no property. The Chartists particularly like its falling on the rich. The shopkeepers all dislike it very much and professional men, but the Irish are pleased at escaping it. Peel tries to please the strongest, and so get their support. The sugar people and the corn people were pleased with the tariff measures.
Lady Palmerston, The Letters of Lady Palmerston, 12 April 1843
Source C: A veteran free trader addresses an audience in Sunderland.
I feel grateful to the prime minister for what he has done according to his opportunities, for the benefit of the country. It was ever my opinion, that want of knowledge was not that minister’s defect: and every step he has taken in the interests of free trade has shown it and will show it still. Depend upon it, he knows all about it as well as you or I do. Why shouldn’t he? Has he not commercial blood in him, as we have? His position is difficult. We could find nobody to do so well for us if put into his place.
Colonel Thompson, speech, March 1845
Source D: In a portrait of mid-century England, a contemporary writer considers Peel’s financial and economic policies.
The financial affairs of the nation brightened in a wonderful manner under the Peel government. Confidence revived; money became abundant; funds were easily raised in credit; and in 1844 there arose a fever of speculation in railway undertakings which proceeded gradually to a kind of universal madness, which was at its height in the summer of 1845. This madness the successful minister did nothing to check. No pen can describe the misery which resulted from the loss of inherited property or hard-earned savings invested in these undertakings, to the excess of which Peel lent such fatal encouragement.
William Johnston, England As It Is, published in 1851
[30]
Answer
