Star.
London, England, 1821-06-23 00:00:00

try, which cannot be sold for home consunttion till 1
the price shall, for some weeks, have exceeded 80s. '
a quarter, is probably less than one million sterling.'
British corn, by the last return, was about 535. per
quarter. Can there he a doubt, if an impression pre-
vailed generally, that it would rise to 795. before the
next harvest, that abundant capital would be found
fur speculation ; and is not the want of it, at this mo-
ment, rather to be received as evidence of an appre-
hension that, in the event of another productive har-
vest, the present low prices would not he improved?
Upon the • second. objection. your Committee have
only to remark, that it is unquestionably true, that
the present accumulation of a great quantity of-fo-
reign corn, the surplus of the two or three last har-
vests on the Continent, would have a considerable
influence upon the prices here, in the event of the
ports being opened in consequence-of a deficient
harvest. But the question is, whether that influence
would not be nearly, if not altogether, the same, un-
der that contingency, if that accumulation were alto-
gether at the shipping ports of Holland, or other
parts of the Continent, instead of being divided be-
tween them and the warehouses of this country ?
Should the prices here be fluctuating between 70s.
and 80s. some small difference might perhaps be pro-
duced by the knowledge of the accumulation in our
own warehouses, stimulating the British grower to
bring his own corn to market, to keep down the price
when it was approaching to the import rate, in order
to shut out the foreign supply. But in this respect,
accurate information must be to him an advantage.
The time might also be a little varied at which a part
of the foreign corn, upon the ports being opened,
might find its way hither. But this difference would
not be considerable, the ports of Flanders and Holland
being as convenient for the Thames as most of our
own ports from which corn is shipped for London.
~ Having stated the grounds upon which your Co-
mmittee are of opinion that the expectations which have
been entertained of advantage from the repeal of this
clause, are not likely to be realized, they conceive
that the views in which it was introduced, of making
.this country a deposit of foreign grain, from which
either our own occasional wants, al those of other na-

tions, might he supplied, are, independent of other
considerations, too much in unison with our general
warehousing system, from which this country derives
such important commercial advantages, to be aban-
doned, without further proof of their prejudicial ef-
fects to our agriculture, than any which your Com-.
mittee have been able to collect from the evidence..
" It is material to observe, also, that the ware-
housing of foreign corn in this country Las this great
advantage, that it places the supply of our wants, to
the extent of the quantity warehoused, out of the reach
of foreign States, putting it out of their power, in a
season of scarcity, to aggravate.the pressure of those
wants, either by prohibiting the expert of corn, or by
imposing a heavy duty upon that export. The fact
of upwards of 100,000 quarters of wheat having been
recently sent from the warehouses of this country to
the Mediterranean, further shews that this facility of
deposit is not a matter of ,indifference to the com-
merce and navigation of this country.
" An impression prevails in marry quarters that
large quantities of corn, imported since February,
819, have recently been introduced into home con-
sumption. This could only have occurred by a frau-
dulent evasion of the law. Of the existence of this
practice to a great extent, your Committee have re-
ceived many intimations. They appear, however, to
rest upon vague rumours, which the parties, when,
called upon, have not come forward, or not been
able to substantiate, except in one instance, the par-
ticulars of which your Committee forbear to state,
as it is understood that the persons concerned in the
attempt are now under prosecution. They will only
observe, that the quantity stated to have been with-
drawn was inconsiderable, and that it appears to
them, if further security be requisite against the re-
currence of this fraud, that regulations for that pur-
pose may easily be devised and introduced into the
Bill, now before the House, for better ascertain-
ing the averages.
" Instead of expressing doubts with respect to the
remedies which have been suggested by others, it
would have been far more satisfactory to your Com-
mittee to have been enabled to conclude their labours
by pointing out some immediate measure of alle-
viation, which would have been efficacious at once
to mitigate the distress and to allay the alarm
which prevail among the Agricultural classes of the
community.
" If such an expedient could have been found, even
in a temporary departure from any sound and Recog-
nised principle of general policy on this subject, or
in any modification of the existing law which could
now be attempted, they might have been disposed to
submit it to the favourable consideration of the House;
but when, after a long and anxious inquiry, they have
not been able to discover any means which, in their
estimation, • are calculated immediately to remove
the present pressure, they know too well their own
duty to the House, and feel too much respect for the
manly character of that class of the community
whose difficulties have been the object of their inves-
tigation, either to attempt to disguise the view which
they have taken of the origin and nature of those
difficulties, or to recommend that specific plan of
relief pointed out be the suffering pa:ties, which,
however sanctioned by the arguments and prayer of
their petitions, a/Spears to be founded in delusion, and
likely therefore to lead only to disappointment.
"So far as the present depression in the markets
of Agricultural produce is the effect of abundance
from our own growth, the inconvenience arises from
a cause which no legislative provision can alleviate ;
so far as it is the result of the increased value of .ourmoney, it is one not peculiar to the farmer,, but which
has been and still is experienced by many other classes
of society. That result, however, is the more
severely felt by the tenant, in consequence of its
• coincidence with an overstocked market, especially
if he be farming with a borrowed capital, and under
the engagements of a ;ease ; and it has hitherto been
further aggravated by the comparative slowness with
which prices generally, and particularly the price of
labour, accommodate themselves to a changein the
Value of money.
"From this circumstance, combined with other
causes, the departure from our ancient standard, in
proportion as it was prejudicial to all creditors of
money and persons dependent on fixed incomes, was
a benefit to the active capitals of the country ; aad
it can:lot be denied that the s.; that st.sed-