Star.
London, England, 1827-03-02 00:00:00

my Noble Friend, who has had much greater omen-
tunities and experience than I have had has found but
few, not embarked in this particular trade, wha have not
agreed rith us, in considering that sixty shillings at
the present time would be a fair average price.—
Now, Sir, as to the mode which we recommend as a
substitute for this system. I have given the reasons
which induce us to think that a fixed duty is not the
principle upon which the laws for regulating the trade
in corn ought to rest. I have said that a fixed duty
without reverence to the variations of price, must at
some times be too high, and at others too low. It is
to avoid these perpetual inequalities, and the lamen-
table consequences which have so often followed them,
that I think a scale of duties varying with the price,
relieving the country when corn is in excess, and making
up the deficiency when the supply is short should be
adopted. It is by such a system only, that we can
carry into effect the great object of giving legitimate
protection to agriculture, while at the same time we
guard the other classes of the country against the evils
which must attend upon perpetual exclusion. In respect
to pr ice. I have stated the grounds upon which the price
of sixty shillings has been assumed. As to the grounds
upon wtrich the amount of duty has been assumed, the
explanatrott.of that part of the measure would lead more
into details than I can be expected to go, when stating
the general nature of our propositions. The prices of
foreign markets, and a great variety of other matters,
must enter into that consideration, and will therefore be
more properly objects for inquiry in the Committee on
the Bill. My Noble Friend was satisfied with the
propriety of a duty of twenty shillings when the price
is at sixty, as much as that sixty was a fair price to be
protected. That duty to diminish two shillings for
every one shilling of increase in price ; to increase two
shillings for every one shilling of diminution in price, i
taking sixty shillings as the mean price to be protected.
Sir, the effects of that scale would be this :—That at the
assumed price of sixty the duty would be twenty shil-
lings, when the price varied from sixty to sixty-one,
the duty would be eighteen shillings - when the price
varied from sixty-two to sixty-three ;billings, the duty
would be sixteen shillings; when the price varied from
sixty-three to sixty-four, the duty would be fourteen
shillings; when the price varied from sixty-four to
sixty-five, the duty would be twelve shillings; when
the price varied from sixty.five to sixty-six, the duty
would be ten shillings ; and when the price arrives at
seventy, then all duty ceases, and importation will be
perfectly free; when I say perfectly free,l mean subject
to such a nominal duty as will be necessary for the
registration at the Customs. At sixty-five shillings the
duty will be ten shillings, and at seventy shillings im-
portation will be free. On the other hand, the effect of
the scale which the Resolutions proposed will be thus:
When the price of wheat shall be above 695. per quarter
and under 60s. the duty will be 225. per quarter; and
the duty will goon increasing progressively in the man-
ner I have already stated, until the price shall have fallen
to 5.55. per quarter, when the duty will have arrived at
Ms. per quarter, which may, speaking practically, be
considered as a prohibitory duty."—(Hear, hear.)
The following are the documents from which the
Right Hon. Gentleman made his statements.