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ONE:"When corn is at 59s., and under 60s., the duty at present is 27s. 8d. When corn is between those prices, the duty I propose is 13s. When the price of corn is at 50s. the existing duty is 36s. 8d., increasing as the price falls; instead of which I propose, when corn is at 50s. that the duty shall only be 20s., and that that duty shall in no case be exceeded. At 56s. the existing duty is 30s. 8d.; the duty I propose at that price is 16s. At 60s. the existing duty is 26s. 8d.; the duty I propose at that price is 12s. At 63s. the existing duty is 23s. 8d.; the duty I propose is 9s. At 64s. the existing duty is 22s. 8d.; the duty I propose is 8s. At 70s. the existing duty is 10s. 8d.; the duty I propose is 5s. Therefore it is impossible to deny, on comparing the duty which I propose with that which exists at present, that it will cause a very considerable decrease of the protection which the present duty affords to the home grower, a decrease, however, which in my opinion can be made consistently with justice to all the interests concerned."Junot had from sixteen to eighteen thousand men in Portugal, but a considerable number of them were scattered into different garrisons; his hope of reinforcements from Spain was likewise cut off by the surrender of Dupont, and by the fact of the Spaniards being in possession of Andalusia, Estremadura, and Galicia. Thus the numbers of the two armies which could be brought into the field against each other were pretty equal, except that Junot had a fine body of cavalry, of which arm the British were nearly destitute. On the 9th of August General Wellesley commenced his march southward, in the direction of Lisbon, to encounter Junot. On the 16th Wellesley came in contact with the van of Junot's army. On the landing of the British, Junot had called in his different garrisons, and concentrated his troops about Lisbon. He also dispatched General Laborde to check Wellesley's march, and ordered Loison to support him. But before Loison could reach Laborde, Wellesley was upon him, and drove in his outpost at the village of Obidos, and forced him back on Roli?a. At that place Laborde had a very strong position, and there he determined to stand. He was located on a range of rocky hills, the ravines between which were thickly grown with underwood and briars. Up these the British must force their way, if they attacked, and must suffer severely from the riflemen placed in the thickets and on the brows of the hills. But Wellesley knew that Loison with his detachment was hourly expected, and he determined to beat Laborde before he came up. He therefore placed his Portuguese division on his right to meet Laborde, and ordered his left to ascend the steep hills, and be prepared for the appearance of Loison's force, which was coming in that direction. His middle column had to make its way up the steepest heights, in front of Laborde's centre. All three columns executed their movements, however, with equal valour and spirit. The centre suffered most of all, both from the nature of the ground, and from a rifle ambuscade placed in a copse of myrtle and arbutus, which mowed our soldiers down in heaps, with their gallant colonel, the son of Lord Lake, of Indian fame, at their head. Notwithstanding all difficulties, our soldiers scaled the heights, formed there, and the centre charged Laborde's centre with the bayonet and drove them back. As the French had been taught that the British soldiers were of no account, and their general only a "Sepoy general," they returned several times to the attack, but on every occasion found themselves repulsed as by an immovable wall. Then, seeing the right and left wings bearing down upon them, they gave way, and ran for it. They were equally astonished at the terrible charges with the bayonet, at the rapidity and precision of the firing, and the general arrangement of the battle, and the exactitude with which it was carried out.