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got, that if we take nothing from foreign nations, foreign nations will take nothing from us. It will never be forgot, that Buonaparte's favourite "Continental System proved his ruin, and the ruin of all countries under his iron rod; that the essence of that system was, to sell every thing and buy nothing: nor will it be forgot, that the same fate must attend every nation which acts on the same unmercantile principle. It may answer for a single transaction; it may answer sometimes between a civilized nation, and savages; it may answer between a prosperous nation and a distressed one; but it will not answer between civilized nations, each equally well informed, and knowing its own interest; each intent on doing the best it can for itself.

And thus, it appears, that we are brought pretty nearly to the same point

The system of Corn Laws is mainly influenced by the mode of obtaining and calculating the average price of corn; and nothing can be a more important integer in the calculation necessary to serve as a basis for opinion on the subject; yet, as if to defy the possibility of forming such an opinion, the averages themselves are incorrect, if not unjust. Sir Joseph Banks, as reported by Mr. Spence, is clearly of this persuasion.

There is another circumstance in the present mode of fixing the average, and as operating at all times, a more important one, pointed out to me by Sir Joseph Banks, in which it is still more irrational, and unjust-that of including in the twelve districts, whose average prices govern importation, at least six which are not wheatgrowing districts, and the consequent high prices of which are most unfairly set against those of Essex, Suffolk, Norfolk, Lincoln, supply is drawn. "I have before me," oband Northumberland, whence the great serves Sir Joseph, in a letter which I have had the hour of receiving from him since

as that from which we set out. Considered as a measure involving the dearest interests of the nation, it does not ad-writing the preceding paragraph of this mit of being viewed through a discoloured medium; it does not admit of being considered on a narrow scale; it demands the practical wisdom of the vigilant and the experienced;-and these, if we guess rightly, will be the last to enforce their opinions with obstinacy; -certainly they will not be the first to break the windows of other people for daring to differ from them, or by way of encouragement to Senators and Legislators to agree with managers of arguments so forcible.

note, at this moment two averages; the one taken from six corn-growing counties, contrasted with one taken from Lancashire, Cheshire, and four Welch counties, in which the average price of the corn-growing counties is 57s. 8d. a quarter, while that of the consuming counties is 73s. 44. Thus is the very corn grown and sold for less than it cost in Lincolnshire, brought forward in Lancashire, with all the charges of carriage, profit, &c. for the purpose of determining the price at which importation shall cease!" It is only necessary for any caudid inquirer to look over the last Gazette list of averages (for the But, beside the view necessary to be week ending the 7th January), and at the taken of this question, in the more exsame time to calculate the proportion of tensive sense, and as affecting the wide wheat shipped by the different districts, as concerns of the nation, there are mati have just done, from the account pubters of internal regulation connected lished by the Corn Committee of the with it, which, though homely, are im- be convinced of the importance of this obHouse of Commons (Appendix, No. H.) to portant. On a matter involving such servation, and the truth of its inference. momentous consequences as the food He will find that while the average price of the nation, even the sound of of wheat in the seven last maritime diswords is a matter of political delibera-tricts, (including Cumberland, Westmoretion and if any matter necessary to be known, be still left in an equivocal, or unsettled state, more especially, if it be charged with incorrectness, or with error, that should be determined and fixed, before a judgment can be formed on the main proposition.

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land, Lancashire, Cheshire, the Welch maritime counties, Gloucestershire, Somerand Hampshire), from all which, in 1813, setshire Devonshire, Cornwall, Dorsetshire, 69s. 2d. that of the five first (comprising only 94,077 quarters were shipped, is Essex, Kent, Sussex, Suffolk, Cambridgeshire, Norfolk, Lincolnshire, Yorkshire,

so far as to guide the legislature; because, a system which affects the maintenance of the people, should be as far as possible, independent of all fluctuations extru the kingdom itself. Whe

Durham, and Northumberland), from | is not, in our opinion, to be confided in, which, in the same year, were shipped 464,526 quarters, or five times as much, is but 57s. 2d. or 12s. per quarter less!! It is very clear, therefore, as Sir Joseph Banks remarks, that a corn bill, without a complete revisal of the present plan of regulating importation, will be no relief what-ther this is too much to hope for, we ever to the farmer and land-owner, who may be mocked with a shew of being secured 80%. a quarter, when the great mass are actually only receiving 68s. It cannot be too strongly impressed on the agricultural interest, that without they succeed in obtaining this revisal, all their efforts are in

vain.

do not say; but, it is not too much to attempt. It is what should be the mark aimed at, whatever difficulties may attend the aim, or prevent its being precisely hit. This writer observes, and his observations are worth record ing, as matter of history; that

During the latter part of the late war, This alone is sufficient to justify our a great change suddenly took place here expectation, that the matter must, 'ere in the value of all manufactured commodi long, be re-investigated: for if this ties, owing to great stocks being brought statement be true, either the farmer suddenly into the market upon the failure loses while the public gains, or the pub- of innumerable merchants, manufacturers, lic loses while the farmer gains, say vast numbers of persons were thrown out and petty traders, By the same means, 20 per cent. on the article, and this carried throughout the Corn trade of Eng-cheaper; while the repeated failure of of their usual employ, and labour became land, amounts to an incredible sum. Of what avail, then, is further study of comparative dearness or cheapness till this imputation on the system be either vindicated, or corrected?

We desire to be understood, as giving no opinion on the lamentable picture drawn by Mr. Spence, of labourers dismissed from their employment, cottagers and families starving, villagers in distress, and town's people pining for want of business. This will ever be the case, on sudden convulsions in politics; and surely nothing could be more sudden than the late peace.

The mercantile world, the shipping interest, trade in general, felt the shock; for such it was; but as this, it might be hoped, was of a temporary nature, merely, it affords no preponderating argument. For, if it proves any thing, it hazards proving too much :that war should be perpetual, to keep this part of our population in employment, at high wages. The army, the navy, and the many thousands connected with them, think this fair: very fair, and excellent reasoning! the Panoramic board has never allowed it to pass current in their Conclave.

For the same cause, the argument of Mr. Smith on the present state of exchange, on the present value of bullion,

bankers and traders, who had all dealt largely in accommodation bills, as well as in bills founded on fair mercantile transac tions, greatly reduced that part of the circulating medium which consisted of other this state of affairs credit fell, and circulation than Bank of England securities. With slackened, which produced a necessary diminution of the quantity of money, as well as a diminished consumption of all articles of luxury by all the prudent or necessitous part of the community; and it is needless to say, that caution and mistrust increased on the one hand, as distress augmented on

the other.

About the time that the continent of Euwhich had been severely injured by our rope began to be opened to our commerce, sudden exclusion from thence and from America, this change had arrived nearly at its height, and the value of money had become sensibly altered. While commerce was confined solely to the exchange of corn for bullion, exchanges were very high against us; but when commodities of all true value of English paper money was kinds were mutually interchanged, the compared with the value of the circulating mediums of the contineut, and exchange suddenly rose, as it is called, in our favour: so that the true par with France being twenty five francs twenty one cents for the pound sterling, and the exchange for Bank paper having been at seventeen francs fifteen cents, it speedily altered to twenty two francs thirty cents, for a twenty shilling note, which is now the actual English

currency, miscalled a pound sterling, which is completely out of use.

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Of the thousands who signed the titions against the Corn Bill, what pro portion was acquainted with this calcu lation, and others dependent upon it? Of all the speechifiers on the occasion, who explained this, or so much as mentioned it? Yet, is Mr. Smith decidedly hostile to the Bill; and all his argu

Bullion, which is in effect the money of all the world, at the same time, fell in the course of the year 1814 from 5. 11s. to 41. 1s. 6d. per ounce, and has since settled at about 4/. 8s. that is to say, the pound note, which was in April, 1814, worth only 14s. 1d. became in September worth in actual sterling money more than 19s. 23.ments controvert it. Whether it shall be thought that in England such a fluctuation in the value of money generally took place to that extent or not, it must be admitted that the power of the pound note in purchasing all commodities, houses, lands, cottons, cutlery, lead, silver, gold, and flour, received an almost magical increase; and we have only to walk the streets of London to see that all commodities have fallen in price generally.

But the effect of the importation price of corn, or any other individual article, is palpable and obvious. Thus, suppose in April, 1814, a merchant in France could sell a quarter of corn for 66 francs, the exchange being at 17 fr. 15 cents, he would require a bill for 77 shillings Bank of England money; but in Nov. 1814, the exchange being at 22 fr. 50c. a bill for 58s. 6. would produce 66 francs in France. Thus by the effect of the rise in the value of money, and of exchanges, a French farmer or merchant, who could not have sold at Jess than 77s. in April, 1814, could in December afford to sell for 58%. 6d. making a difference at the least of 18s. 6d. in the quarter of wheat.

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My friend the scientific corn grower says, that high prices have induced bad farmers to plough up more land than they ought to have done; and instead of feeding a sufficient quantity of sheep to produce manure, they have abandoned the sheep breeding, broken up old pastures, neg lected the skilful culture of the best arable, and upon an average of years produced less corn than, by good husbandry, they would have produced if they had attended to all the duties of a farmer; namely, by growing cattle, wool, corn, and perhaps cheese in due proportion all together, instead of all white corn and fat meat. To drive these lands out of cultivation, will only be giving back to the sheep and cows what has been improperly taken from them; for it is impossible so farms, that all the land of any one farin shall perpetually be fit for the growth of grain.

to allot

Upon the subject of reducing rents, I lately had a conversation with a very able lawyer, whose ancestors were farmers; but who, having made a large fortune by his own great abilities, has endeavoured to make the best of his money, and purchased At the same time, by the change in the a landed estate. Being a member of paralue of money, the same 18s. 6d. became liament, he said, he should vote for the an actual rise in the real value of the pro- told his tenants that, when they lowered corn bill; but as to lowering rents, he had tecting price under our corn laws; and the 63s. the lowest importation price of the their cheese, butter, beef, mutton, and present corn laws, in the true value of wool, and other produce, as well as the money becomes 81s. 6d. as respects fo- corn, and accounted for the 7 per cent. reigners; calculated in the money of Ja-income duty, lately given up to them, and

nuary, 1814.

not till then, he would consider about an abatement of rent. Hence we see that, farmers with modern improvements, and probably, the real truth is, that the skilful

ignorant farmers with inadequate capital; while some of them are ruining themselves by too boid and venturous speculations in the new style of husbandry, and the substitution of delicate Merinos for hardy South Downs, and of oil cake for meadow grass.

What an ever-to-be-dreaded effect of peace! So then, during war, our circu-sufficient capital, are fast driving out the lating medium is worth nothing; and during peace, when that begins to be worth something, all other commodities become worth nothing! During war, the want of foreign commerce throws all our hands out of work; and during peace, the articles they could, should, or might make, sink in price so lameutably, that the echo resounds through all the streets of London !

agricultural improvement, such as lisppens This is a mere change in the course of every day in commerce and manufactures without exciting alarm at the many bankruptcies by which it is accompanied.

ing bankruptcies, this! but, we can assure Mr. S. that much alarm, and inconceivable distress, are very frequent, and very destructive consequences, of many bankruptcies to which he so tranquilly alludes; even such as make no great noise in the mercantile world.

A pretty, cool, manner of contemplat- | provements upon it. This is undoubtedly a most short-sighted policy, the bad effects of which have been strongly noticed by evidence lately brought before Parliament; the most intelligent land surveyors in the and have been particularly remarkable in Ireland, where the imprudence of the landlords in this respect, combined, perhaps, with some real difficulty of finding subIt must be admitted, however, that stantial tenants, has aggravated the disthe plough now occupies many lands contents of the country, and thrown the scarcely fit for arable; and, as lands most serious obstacles in the way of an cannot be both under the plough, and improved system of cultivation. The conunder pasture at the same time, it foi-sequence of this error is the certain loss of

all that future source of rent to the land

lord, and wealth of the country, which arises from increase of produce.

The second error to which the landlord is liable, is that of mistaking a mere tem

lows, that animal food is not produced, where corn is produced: in proportion, then, as corn is spread throughout the kingdom, cattle, &c. are diminished, unless land absolutely new, is brought un-porary rise of prices, for a rise of sufficient der cultivation, and this assuredly, is not every where the case. Here another field of enquiry opens, well worthy of accurate examination. Shall corn take place of cattle, or cattle take place of corn? or, rather, shall not both be made useful, by contributing to each other's production. What a world of tables and calculation is necessary to obtain an answer to this simple question! That the expences of the farmer's trade are heavy, admits of no doubt; but, so far as we are able to judge, they consist of a number of Items of which one by itself is of small consequence, for or against the agriculturist. Lower his rents alone, the public would scarcely feel it, in the price of bread; lower his taxes, the visible part of them, alone, the price of corn would be little affected; --but, if a moderate diminution from rents---from taxes---from expences of living, &c. could be accomplished, the force of the Scottish saying, “many a little makes a mickle" would stand at once demonstrated.

duration to warrant an increase of rents. It frequently happens, that a scarcity of one or two years, or an unusual demand arising from any other cause, may raise the price of raw produce to a height, at which it cannot be maintained. And the farmers, who take land under the influence of such prices, will, in the return of a mere natural state of things, probably break, and leave their farms in a ruined and exhausted state. These short periods of high price are of great importance in generating allowed to have the advantage of them; capital upon the land, if the farmers are but, if they are grasped at prematurely by the landlord, capital is destroyed, instead of being accumulated; and both the landlord and the country incur a loss, instead of gaining a benefit.

Mr. Malthus has some remarks on Rent, which bear strongly on passing

events.

In re-letting his farms, the landlord is liable to fall into two errors, which are almost equally prejudicial to his own interests, and to those of his country.

In the first place, he may be induced, by the immediate prospect of an exorbitant rent, offered by farmers bidding against each other, to let his land to a tenant with out sufficient capital to cultivate it in the best way, and make the necessary im

A similar caution is necessary in raising rents, even when the rise of prices seems as if it would be permanent. In the progress of the prices and rents, rent ought afford the means of ascertaining whether always to be a little behind; not only to the rise be temporary or permanent, but even in the latter case, to give a little time for the accumulation of capital on the land, of which the landholder is sure to feel the full benefit in the end.

These ideas are liberal, and they are equally just; reduced to practice, they keep landlords in moderate spirits, which is a good thing, and they keep tenants on their farms, which is a better thing. But, in the mean while they oppose the high-flying, dashing manners of the day ;---could they oppose them effectually, we should not be backward to think it, the best thing of all.

The author of the "Remarks" has

not allowed himself time to finish his conceptions, properly: he has not done them justice. We shall insert an extract, which indicates talent; but talent depreciated by haste.

at all to his advantage. If then the rise in the price of corn be the real cause of the increased expense of cultivation; if their relative proportions remain the same, the remedy for the evil complained of cannot be difficult. Let corn return to its natural price, and as every expense of the cultivator and proprietor will be diminished in proportion to the reduction, which will take place, each man will be in precisely the same situation in which he now stands, and cultivation and improvement will be rather augmented since the profit will remain the same whilst the risk of loss will be lessened. It may be remarked, that the Committee of the House of Commons have fallen into two errors. First, they have mistaken the effect for the cause, in considering the increase of expense as the cause of the high price of corn, when in fact it is produced by it. And secondly, they have assumed that the landlord's proportion of the gross produce must always remain the same however much that produce may be augmented, This system is not new: it was that of the metayers in France before the revolution; and one less favourable to improvement can hardly be

It appears that the expense of cultivating one hundred acres of land was, in 1790, £411 158. 114d.-in 1813 it had risen to £771 16s. 44d.-but the former sum bears almost accurately the same proportion to the latter as 6s. the price of wheat in the first year, does to 11s. in the second. It is deserving of notice that the same proportion is observable in the intermediate period of 1803, and that each different head of expense has increased almost minutely in the same degree. These accounts are however made upon the supposition of the farm being in the same state of cultivation at both periods. But this is not a fair statement of our agriculture. Few are the estates in the country on which the husbandry has not been improved, and where consequently the rent of the landlord has not been increased more than the mere increase of the price of grain. It was not however the interest of the witnesses to bring these cases forward. We have there-devised. If an acre of land at an expense fore no statements to that point. The re- of £3 produce twenty bushels of wheat port of the parish of Bradford (vide Lords worth 5s., the rent to the landlord will be Report, page 262) though probably one of £ 2; but if at an increase of expense of £2. the least improved parishes in the kingdom, per acre ten additional bushels can be proshews it in some measure. The quantity cured, the additional rent to the landlord of produce has augmented five per cent.; will only be 10s. In this case however the nominal value one hundred and ten per though his proportion be diminished from cent; the expense of cultivation has in-two-fifths to one-third, his real wealth will creased one hundred and two per cent.; be increased, as he will receive the value the rent of the landlord one hundred and of ten bushels instead of eight. If he infifteen per cent. But on all the poor sisted on a rent proportionate to the increase lands which have been broken up during of it, the farmer must abandon his better this period, on all the inclosures which husbandry and return to his former system, have taken place, the increase of value to because he could not afford to pay the the landlord has been far greater. Indeed additional rent required of him. We acit is not too much to assert that there are cordingly find that though improvements few estates in England whose rents have in agriculture always increase the landnot been increased from two to five. In lord's rent, they diminish his proportion. many the increase has been twice as great. Nearly the whole value of pasture land is This is however the fair and legitimate paid in rent. That of corn land is less. advantage of the landlord. It is what he The landlord of a vineyard does not, except always will and must derive from the im- under particular circumstances, receive oneprovement of his lands, and what will re-tenth. A hop garden produces still less main to him equally, whatever be the price of corn. From his improved land, his rent will be equal to a greater number of bushels of wheat than what he received previous to such improvement. This is the real increase of wealth to the landlord. It gives him a greater command of such objects as are desirable to him; that which rent to produce, in foreign coutries. What arises from increased price is entirely fic-is the rent really paid for vineyards,. titious, and increasing his expense of sub-in France, in Germany, &c.—and what sistence in an equal proportion, tends not in Portugal, where wine is grown for

in rent in proportion to the gross amount:' yet there is no cultivation so beneficial to the landholder: none which affords so large a rent.

tional information on the proportion of Now, this leads us to wish for addi

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