Star.
London, England, 1831-02-05 00:00:00

.. ~

STATE OF THE COUNTRY.

Near Leeds, Jan.3l, 11131.
I perceive from the letter of your correspondent near
Halifax, that though the currency question is happily set ai
rest by the legislature, it yet bolds a place in the minds of
some " practical men" whose habits have been formed
under the paper circulation. Therefore, before I enter on
the cause of the distress of the country, and from
what quarter relief may be expected, a few remarks
may with propriety be offered on his observation " that
paper money created all we see around us, and that with-
' out it we must go back to the state we were in forty years
Because paper money existed or grew up during a period
.1 great prority. it does not follow that paper money was
the cause. That prosperity ought rather to be attributed to
the wonderful inventions and improvements in machinery.
which made labour so abundantly productive that society
made greater advances in thirty years than in centuries of
any period in the history of put times. Changes in the
Infte Ot the circulating medium are unquestionably fraught
with much evil and injustice, and inevitably ruin multitudes of
innocent individuals. When the medium of exchange becomes
more valuable, all debtors lose a value exactly equal to the
lammed value of the currency ; but their creditors are be-
trefitted to the like extent ; and those who hold stocks of
goods suffer losses by a depreciation in the nominal value of
such stocks in a similar manner, as well as those who have
invested capital in any permanent outlay, whether in ma-
chinery, buildings, or land. Where these stocks are held
en credit, or by means of borrowed capital, or if the perma-
nent investment has been effected by means of mortgage,
ruin must of necessity fall on those who are in this unfortu-
nate situation, but their losses are not lost to the country,
because their creditors must gain to an equal amount. The
great evil, so far u the country is concerned, consists in the
ruin falling on the productive classes ; but this injustice once
incurred, the effect of the change in the currency ceases;
and this change, having long passed by, cannot be the cause
of the present distress, except incidentally, through the un-
natural attempts by means of legislation to prevent the price
of food from falling to the common level, and thus placing it
beyond the reduced means of the people. This is to make
bricks without straw. _ _ _

The low rate of interest proves that there is abundance
of money in the country which wants employment. Low
prices require a smaller circulation of money, a rise of prices
would soon lead to an extended quantity. High or low
rims respectively regulate the quantity of money required
for the necessary transactions of business, the demand as
compared with the supply as necessarily regulates prices, but
demand and supply are affected by causes hereafter ex-
plained.
I mainly agree with your correspondent in his representa-
tion of the state of wages, profits, and the spirit of diarist's-
faction pervading the country, and with the necessity that
relief should take place " iitstantly." I bef)itaonkthank him
for his clear and concise account of the et trade,
which will servo to illustrate my view of the present aspect
of affairs and the nature of trade.
He proves that if each family were to get one blanket
weighing sle lbs. annually, it would furnish employment to
nearly double the present actual amount. It would require
more machinery, an additional number of labourers, and a
much more extensive supply of wool. This could not take
place without considerably increased profits, wages, and
higher prices for wool, from the increased demand. Nei-
ther could this take place in the blanket trade alone, for the
increased Agility to purchase blankets would extend the same
effects to every other trade and employment,and the state of the
country would thus again become very prosperous. After
food, blankets are most necessary ; and one of this light
quality seems a small allowance. And why cannot each
'labourer obtain'one blanket annually for his hinny, and an
equal quantity of other necessaries, which that ability im-
[ plies, and which would produce the above happy effects
The true answer to this question would solve all difficulties.
I propose the following solution :
The wants of the labourer may be classed under the two
heads of food and clothing : under clothing, I include rent,
furniture, and firing. Upon examination it will be found,
that in average times it will require half the labourer's wages,
or three day's labour each week, to procure food for his
family, the other half being, fully required for clothing, &c.
If food rises in price, so as to require a disproportionate share
of his wages, or time, and as wages are so various,
it will be best to measure these proportions in time ; and
if this advanced price of food requires four days instead
of three, it is evident that be can now procure one-third less
of blankets, and of every other necessary. The consequence
will be one-third less demand for clothing, and therefore im-
plies one-third less employment, less wages, less profits,
less prices of wool, and less prosperity throughout the
country. I appeal to the common knowledge of all men if
it is not a fact, with the exception of some particular em-
ployments, that to procure food does require a dispropor-
tionate share of the labourer's time or wages, equal to the
above statement of one-sixth, the amount of which, whoever
will take the trouble to (Impute, will find it amount to a
prodigious sum, fully adequate to account for low wages,
low profits, and low prices. The country does not grow
food sufficient for its inhabitants, a large proportion amount-
ing to three millions of quarters of grain, is annually im-
ported from foreign countries, under a law which raises the
price of food more than one-third, and absorbs one-third
more of the labourer's time or wages than a comfortable
state of things will allow. The higher the corn law forces
the proportionate value of corn to other necessaries of cloth-
ing, the greater distress will take place, and the lower will
prices, and profits, and wages necessarily range, while the
price of corn itself will be kept down by the lessened ability
of the consumers to purchase.
This continually increasing relative disproportion of time
or wages necessary to procure food, is the canes of all the
distress and dissatisfaction pervading the country, and can
only be relieved by a removal of the cause, which is thus
proved to be the corn law.
Interference with the food of the people, has produced si-
milar effects, and has greatly contributed to the convulsions
and revolutions in neighbouring countries. France has pro-
hibitory corn laws, which have been aggravated by several
bad harvests, insomuch that it has been found necessary to
import corn at high prises caused by English demand, and
thus bread in France has for a few years been as dear as
in England which has produced a feeling of oppression,
and fostered the spirit of dissatisfaction attempted to be put
down by the fatal ordinances of Charles X.
In Belgium I have understood that a tax of nearly a
third of the flour or its value, was exacted at every corn-
mill, and that the presence of a revenue-officer wee indis-
pensable, before any man was allowed to kill even a pig,
or other animal.
In sea of the petty principalities of Germany, their
breed taxes have been removed, to "resent convulsions.—
Surely this is warning enough. It is the duty of every
man to use his beet endeavour to obtain the repeal of our
most oppressive and impolitic Corn Law.

Among the Corp di Ballet announced for the issuing
wawa at the Opera, there is ODO 70001 lady, a Mademoi-•
sells Capra, a nano by sotom inappropriate for a
dassensc.