The Sun.
London, England, 1840-09-02 00:00:00

PRICE sd.

FRAUDS IN CORN-LAW

AVERAGEg.

(From the Anti-Corn-Law Circular.)
During the recent debate on the motion of Mr. Vil-
liers, several of the Honourable Members who took
part therein, expressed themselves in unqualified terms
of admiration of the beneficial effects of a fluctuating or
sliding scale of duties, regulated according to the ave-
rage price of grain in the chief markets throughout
England for the previous six weeks ; and whilst they
professed an irreconcileable objection to any alteration
in the present law, they felt a tenfold aversion to per-
mit inquiries into the subject, under the impression
that this branch of it might, by a bare possibility, un-
dergo revision.
By those parties, however, who have been practi-
cally conversant with the workings of the sliding scale,
it has long been considered as neither more nor less than
a direct bonus to the speculator ; and that so far from
giving fixity or stability to prices, it has had the direct
tendency of producing greater and more constant flue-
illations than could by any possibility arise under the
natural operations of free importation, or even under
any permanent system of fiscal regulation, and, added
to which, it is cruel towards the farmer, as it leaves him
at all times subject to the mercy of any half-dozen in-
dividuals who mutually agree to act upon the principle
of returning fictitious sales of corn at high prices, at
any of the one hundred and fifty towns recited in the .
Act of Parliament.

The unfavourable state of the weather, a short time
back, induced many merchants, under the impression of
the probability of another bad and deficient harvest,
to send out orders for wheat and flour, to a considerable
extent, to the Continent and to America. These orders
are now being executed. But, in the meantime, the
weather undergoes a most favourable alteration, and the
prospects of the harvest are most materially changed for
the better, and there is every probability of the avera-
ges being such as that the foreign corn, either in bond
or to be imported, must either pass through the Custom
House at a high duty or remain in bond, at a great
expense and considerable deterioration in quality, for
months, if not years, to come. The result has been,
that some parties have resolved to defeat the legitimate
action of the law ; and the following tables from the
inspectors' returns, will exhibit the process in full ope-
ration.

We have extracted the averages, from some of the
principal corn markets in the kingdom, for the last ten
weeks ; and we have been guided in our selection by
the desirableness of examining and comparing the re-
turns in such markets as are supposed either to have an
immediate effect upon each other from their proximity
or are otherwise operated upon, and, to a considerable
extent, governed by the same influences.
Average price of wheat and quantity sold at each of
the following places, from June 5 to Aug. 7 inclusive :-
London-June 5, 6,496 qrs, 67s ; June 12, 6,834 qrs,
72s ; June 19, 6,066 qrs, 71s 9d ; June 26, 6,452 qrs,
72s 5d ; July 3, 8,813 qrs, 73s 11 d ; July 10, 9,552 qrs,
74s 6d ; July 17, 9,598 qrs, 7503 d ; July 24, 11,235 qrs,
79s 4d ; July 31, 14,960 qrs, 80s 5d ; August 7,
19,500 qrs, 80s 4d.
Chelmsford (Essex)- June 5, 2,3171 qrs, 71s 3d ;
June 12, 1,725 i qrs, 69s 8d ; June 19, 2,084 qrs,
70s Id ; June 26, 1,850 qrs, 70s Id ; July 3, 2,1191
qrs, 71s Id ; July 10, 1,3704 qrs, 71s 4d ; July 17,
1,534 qrs, 72s 6d ; July 24, 1,4991 qrs, 73s 8d ; July
31, 1,8841 qrs, 73s 6d ; Aug. 7, 1,900 qrs, 73s 10d.
Ipswich (Suffolk)-June 5,1,574 qrs, 69s 1 1 d ; June
12, 1,6621 qrs, 69s Id ; June 19, 1,40.54 qrs, 68s Od ;
June 26, 1,6804 qrs, 69s ; July 3, 1,562 qrs, 68s 9d ;
July 10, 1,244 qrs, 59s 3d ; July 17, 1,1681 qrs,
69s 1 Id ; July 24, 1,8148 qrs, 7ls 3d ; July 31, 2,424
qrs. 72s 6d ; Aug. 7, 3,763 qrs, 73s sd.
Norwich (Norfolk)-June 5, 2,8074 qrs, 68s 6d ;
June 12, 2,8724 qrs, 68s 5d ; July 19, 1 ,996 i qrs,
67s 3d ; June 26, 2,367 qrs, 67s Od ; July 3, 1,394
qrs, 68s 5d ; July 10,. 1,4741 qrs, 68s 6d ; July 17,
2,4401 qrs, 70s ld ; July 24, 2,60613- qrs, 71s ; July 31,
2,521 qrs, 70s 3d ; Aug. 7, 1,941 qrs, 70s 3d.
From an examination of the above, it will at once ap-
pear that the advance in London bad been very consi-
derable, amounting to an increase of from 675. to
80s. 4d. the imperial quarter ; but that at the other
markets, of Chelmsford, Ipswich, and Norwich,lno cor-
responding variation has taken place, the increase only
amounting to 23. 10d., 3s. 4d., and 1 s. 9d., respectively,
although they are nearly (the two first especially) under
the entire control of the Mark-lane market.

But the disparity does not end here ; it is very de-
sirable to the speculator to obtain high averages, to
counteract the returns in the low priced districts ; but
this cannot be done to any great extent unless there
happens to be a greater or preponderating quantity sold
at the high price ; and a reference to the number of
quarters of wheat sold at each place at the respective
periods, will exhibit the astounding increase of from
6,000 quarters in Louden, June 5, to 19,500 quarters
for the week ending Aug. 7 the Chelmsford and Nor-
wich returns for the same period showing a falling off,
and the Ipswich being the only one exhibiting any in-
crease. The usual aggregate return for the kingdom is
about 90,000 to 100,000 quarters weekly. So that the
'must 7 amounts to one-fith

lma f- ^r A

of the entire quantity.
Liverpool-June 5, 8104 qrs, 43. lld ; June 12,
1481 qrs, 59s 5d ; June 19, 1,373 qrs, 63s 10d ; June
26, 1,513 i qrs, 67s 8d ; July 3, 1,299} qrs, 54s 2d ;
July 10, 6158 qrs, 67s 7d ; July 17, 2,574 qrs, 70s 1 Id ;
July 24, 1,2623- qrs, 72s ld ; July 31, 2,097 qrs,
72s 8d ; Aug. 7, 2,166 qrs, 73s 3d.
Newcastle:-June 5, 1,120+ qrs, 59s 4d ; June 12,
588 qrs, 57s H ; June 19, 6824 qrs, 65s 2d ; June 26,
1,1471 qrs, 63s 4d ; July 3, 1,184 1 qrs, 64s 9d ; July
10, 1,443 qrs, 67s 6d ; July 17, 1,6284 qrs, 70s Id ;
July 24, 2,677 qrs, 71s 10d ; July 31, 2,432 qrs, 73s ;
Aug. 7, 2,389 qrs, 725.
Birmingham-June 5, 968 qrs, 74s Id ; June 12,
1,456,1 qrs, 72s 6d ; June 19, 1,8564 qrs, 70s 9d : Jane
26, 1,4021 qrs, 70s 9d ; July 3, 832 qrs, 71s 1 ld ; July
10, 1,221 qrs, 72s 2d ; July 17, 1,896 i qrs, 735 10d ;
July 24, 1,476 cps, 73t 4d ; July 31, I,Boo+ qrs,
73s 4+d ; Aug. 7,1,376 f qrs, 73s 31d.
Leeds-June 5, 3,538 qrs, 68s 7d ; June 12, 2,505+
qrs, 67s 7d ; June 19, 3,195+ qrs, 66s 2d ; June 26,
4,792+ qrs, 68s ; July 3, 4,359 qrs, 66s ; July 10,
4,187-1 qrs, 66s ; July 17, 3,984+ qrs, 68s 5d ; July 24,
3,682+ qrs, 69s 7d ; July 31, 7,051+ qrs, 73s Id ; Aug.
7, 4,644 qrs, 71s.
Wakefield-June 5, 6,188 qrs, 64s 6d ; June 12,
2,832 qrs, 64s 6d ; June 19, 3,490 qrs, 64s 10d ; June
26, 2,144 qrs, 65s 9d ; July 3, 5,019 qrs, 65s ; July
10, 5,527 qrs, 67s ; July 17, 6,692 qrs, 67s sa ; July
24, 8,390 qrs, 70s 3d ; July 31, 9,528 qrs, 70s 10d ;
Aug. 7, 1,622 qrs, 72s 6d.
In Liverpool more astonishing variations have taken
place in the prices than in London, the average price
on the sth June being 435. 1 Id., and on the 7th
August 735. 3d., or an advance of 295. 4d. In New-
castle the alteration is from 595. 4d. to 725. Birming-
ham, at the same period, actually shows a decline in
price, and Leeds varies only to the extent of 2s. sd.
per quarter. The increase in the quantity sold at the
high price at the two former places, exhibits the unity
of action in their transactions and those of the London
people, and it is difficult to believe that it is not the
result of mutual arrangements.

THE AVERAGES.
SECOND ARTICLE.

In our last number of the Circular we briefly directed
the attention of our readers to the fictitious returns of
purchases of wheat made at some of the principal '
markets to the inspectors, for the purpose of advancing
the averages, and thereby securing the admission of
foreign grain and flour (in bond, or to arrive within a
few weeks) into consumption at the lowest possible
duty ; and we exhibited actual proof that the sliding
scale afforded no protection to the farmer against the
combined movements of any half dozen speculators who
might at any time, if they found it their interest to do
so, render the law inoperative.
We shall now proceed to examine how far the me-
chanism of the system for taking the averages is calcu•
lated to insure a correct statement of the actual price of
corn throughout England, either for the purpose of re-
gulating the duty, or as the basis of comparison be-
twixt the cost of the chief article of subsistence in this
and foreign States.
By the Act of the 9th Geo. IV., cap. 60, one hun-
dred and fifty towns are enumerated as places wherein
returns of all British corn and grain purchased shall be
received, and to each town an inspector is appointed by
the Government, whose duty it is to receive and examine
such returns ; to average them, and to forward the said
averaged statement to the head inspector at London
and all buyers are required, under certain penaltiesfo.;
neglect, to give a written statement of the quantity of
grain, and the price per imperial quarter at which
the
same has been purchased, to the inspector for the town
where the said purchase was made. The returns of each
town having been transmitted to the inspector
Lon-
don, a further average is made, and thep ce an idn
quan-
titiesand
are published in the Gazette ;thisbeing re-
peated for six weeks regulates the duty.
paid lt
bi
ys
tll verye buyerobvious
neverthat
a p thepea
appear
lowest prices
Inv et
sht e Gazelle,and highest
the ave-
rage price only of all sales at each place, in which there
generally is a difference of Bs., l Os., or even as much as
12s. per quarter being published ; and consequently,
any analysis must be to a ccrfain extent imperfect which'
omits
if
tsalilt be
noticoemoitftsed,
ucll-ivleoeshalalld difference.
oene.an
, ine Nevertheless,
aspl,ecatio differ-
ence o f
the Gazette for any week during the past y
in price often exists to the 'amount of 50 per cent. ;
and yet the law prevents the admission of foreign wheat
or flour at Is. per quarter duty until the aggregate ave-
rage of the whole of the one hundred and fifty places