The Sun.
London, England, 1821-06-23 00:00:00

tirr, generally, they were aware of its extent and practical
operation in the present state of this country and of our cony

The cause which produces this greater susceptibility in the
corn market cannot be better explained by your Committee,
than in the following extract from the answers of Mr. Tooke,
one of the witnesses who was particularly examined to this
point Why should a different principle apply to corn than
" to any other general production ? Because a fall in the price
" of any other commodity not of general necessity, brings the
" article within the reach of the consumption of a greater nuns-
" ber.of individuals, whereas in the case of corn,' the average
" quantity is sufficiunt for the supply of every individual ; all
" beyond that is an absolute depression of the market fora great
" length of time, and a succession of even two or•three abun-
" dant seasons, must evidently produce an enon-nofisly incon-
" venient accumulation."—" Is there not a greater consumption

"of corn when it is cheap than when it is dean, as to quantity ?
" There may be, and possibly must be a greater consumption :
" but it is very evident that if the population was before tide-
" quately fed, the increased consumption, from abundance, can
" amount to little more than waste; and this would be in a very
" small proportion to the whole excessof a good harvest or two."
" The whole population of this country and others do not sub_
" sist upon wheat, therefore wheat becomes cheaper, those
" who were formerly fed upon other corn may take to feeding
" upon wheat ? My remark was general as applying to corn.
" Theie is leo doubt that if there is one description of corn al),
" islieable to human fond which is abundant, and another that
" iS deficient, then the principle does not apply ; my principle
," applies to corn generally applicable to human food. It may
" be observed, that abundant seasons generally extend to the
," leading articles of consumption, and that it seldom happens,
" that in what are called commonly good years, there is a corn-
" plete failure in any one great article."
Inethe substance of this reasoning, your Committee entirely
concur ; and it appears to them that it cannot be called in
question, without denying either that corn is an article of ge-
•neral necessity and universal consumption among the popula-
tion cf this country,—or that the demand is materially varied
by the amount of the supply. This latter proposition, except
• within very narrow limits, altogether disproportioned to the
fluctuations in production, is not warranted by experience.
The general truth of the observation remains, therefore, unal-
tered by any small degree of waste on the one side, or of eco-
nomy on the other ; neither of which are sufficient to counter-
act the effect which opinion and speculation must have upon
price, when it is felt how little demand is increased by redun-
dancy, or checked by-scantiness of supply.
In order to apply this leading principle, as affecting the trade
in corn, to the present state of this country, and of our corn
laws, your Committee will assume, what they believe is not
far frbm our actual situation, that the annual produce of corn,
the growth of the United Kingdom, is, upon an average crop,
about equal to our present annual consumption ; and that with
such an average crop, the present import prices, below which
foreign corn is by law altogether excluded, are fully sufficient,
:more especially since the change in the value of our money, to
- -secure to the British grower the complete monopoly of -the
home market. So long as he retains that monopoly, the fluc-
tuation of prices in that market, will, it must be obvious,
range between the maximum at which foreign corn is admitted,
or (owing to the mode of 2t.scertaining the averages). some tem-
porary. price not very much beyond it, and the minimum to
whicle that price may be reduced, by a very abundant harvest,
- or a succession of such harvests, until British corn falls below
the price of some foreign market, and finds a vent in expor-
• ration.
In mentioning a succession of abundant harvests as a contin-
gency, which,- by greatly reducing the price of corn, might
ultimately force an exportation from this country, your Corn-
halittee feel it incumbent upon them to remark, that an opinion,
founded apparently upon long observation, has prevailed with
respect to the continuance of favourable or unfavourable see-
saw., for considerable but irregular periods of years, or cycles,
as they have been called by Ilfr. Burke ; an extract from whose
week., intitured " Thoughts and Details on Scarcity," as also
from the works of Dr. Adam Smith bn this topic, will be found:
in the Minutes annexed to this Report.
If this doctrine, " That years of scarcity or plenty do not
" coma.alternately, or at short intervals, but in pretty large'
" cycles and irregularly," should be well-founded, your-Com-
mittee need not enter into details or calculations to point out to
the House; how hazardous and embarrassing must be the- si-
• tuatiore of the grower of corn in a :country,- where the loarest
price which is considered to afford him a remuneration, shall ha-
bitually and considerably exceed the prices of the remainder of
the world ; ailliongh up to that price, he should be secured in
the complete monopoly of that country.
Upon this subject of a remunerative price, so far as relates to
this country, your Committee ap.prehend that much misconcep-
tion prevails,. and particularly in the use and application of
these words in • the minds of the Petitioners, and of several'of
the witnesses, who represent it as a fixed' amount of eighty
shillings-for the quarter of wheat, arid in proportion for other
grain. • •
In the first place, it is obvious that what was deemed a renin-
nerative price in 1815 under one state of things, may be more
or less than a remunerative price in 1821 under a very different
stele of things. The sum of 80 S. may represent a.different
value now from what it did then, and assuming rent to remain
the same, the expence of seed, labour, and all ottiel• outgoings,
may have been materially diminished ; but, Making ample.allow-
ance for these grounds of variation, it would liy-no means be an
impossible case, that, in the ordinary acceptation of these-words
• " remunerative price," Bth S. at this time, may not be Mere; Ore ven
so much " remunerative," as that sum was held to be in 1815:
The-meaning usually -attached to these words, is, The price at"
which corn can be raised, paying all present charges, and leas- `•
ing to the grower a fair profit upon his capital. Now,- if the
country should require for its annual consumption one-fifth,'
for example, more corn than was sufficient in 1815, this increase
ed demand would require an extended tillage. Lands which,
in 1815, would hot have paid for cultivation, would be applied
to the-raising of-corn, and it would be very possillle that upon
• those lands paying no rent, and notwithstanding the increased
-value of money and diminished expence of 'production, Corn
could not be raised for 80 S. a quarter. In this suppositiori,
thererore, if it should be the policy of the Slate- to :preserve the
• monopoly of the home-market to the home grower, it would
be necessary to raise the scale of import l'erice above 80 S. a
• quarter ; but then inasmuch as the cost of raising corn on all
lands, upon-which it was before produced with profit;- would
not be augmented, that profit would be proportionally increased
for the benefit, first of the tenant, during the remainder of his
engagement, and afterwards of the landlord, from the period of -
-its termination ; and, after a new engagement, 80 S. wouldno
more lie a remunerative price -upon the richest land, ;Paying:
' the highest rent, than it would upon the poOrestnpaying no rent
• at all. .
if therefore the population of the country anditspower
consumption should continue to increase; it wenild bebeCeSsainen'
in order to preserve in efficacy the principle'and system of our
-Corn Law, from time to time to 'advance the import prices,
even though all the charges of producing corn should remain
. the same.
The change in the value of our money is, virtually, such an
-advance ; and the result of every such advance, supposing
prices 'not to undergo a corresponding rise in other countries,
must be to expose this country to greater and more grievous
fluctuations in price, and the business of a farmer to greater un-
certainty and hazard, according to the alterationa of good or
bad seasons.
This is the part of
.the present system of our Corn Laws,
and of the principle involved, in that system, which appears
'most to require earnest and serious coosideration, with a view
to the future. interests and welfare of the -country. e The
..
ruinously-low prices of Agricultural produoe.at this -moment,
cannot be ascribed toany deficiency In the protecting power of
the law. Protection cannot, be carried; forther elfa,n monopoly.,
This monopoly -the British-grower has enjoyed4be,the:paoduce.
of the two last harvests ;-the ports,
,(withalienexcepticas ,of-the
ill timed and unnecessary importation Ofaaata:Aneitsg silenyeeeks.
-of the 14t summer) having- been uninterruptedly shut against
all foreign import for nearly thirty. months., • a
Now the produce of the harvest of 1819 in .the-United it g.
dom,doe.s not appear to have-exceeded an average-crop; 'ant: •
that of 1820 was more abundant...
On the continent of Europe, the harvesti both ;of t t#l
.an • e
1819 are -stated to have been very abundant. Againit-the-proa
duce Of_those harvests our ports have been closed. The rgsult is,
an accumulation on tnecontinent held at prices so low, . that,_
whateyer may be the depression which abundance may produce
in this-country, we can look to no relief in exportation, till that ,
accumulation shall he disposed of by a scarcity on the. continent,.
or a failing crop here ; either of which will restore the markets
to their natural level;
Upon a series of years, a general scarcity is, perhaps, less
:to be dreaded on the Continent, taking its whole surface to-
needier, than in this country ; because the United Kingdom, „