Star.
London, England, 1828-04-30 00:00:00

al'. that if the farmer sold at a high price, the landlord
would impose a corresponding increase in the rent of an
acre of land. Although some Hon. Gentlemen threw
gs a longing, lingering, look behind," to the high prices
which prevailed, yet he was willing to believe, that in
frequeat instances they acted from a mistaken •iew of
their own interests. He had heard wi h surprise from
an Hon. Member (Mr. Irving) that night. far the first
time, that the price of labour was so small an ingre-
dient in this question, that it made no matter.
Mr. IRVING said, that the Noble Lard misunderstood
—he would not say misrepresented—him. What he had
said was, that the price of fallout was one sixth of the
value of the manufactures.

Lurd MILTON said, that even from the explanation
of the Honour able Member, whom he regarded as the
most accomplished member of the commercial corn•

munity, the price of labour appeared to him to be of
very little importance. However he would not now

enter into an etamination of the calculation which the

Honourable Member had made; as it depended upon
a variety of circumstances, which, if their due propor-
tion was not given to them, might lead to an erroneous
result. As to high prices, he concurred in the opinion
that they mere a very good thing; they were at once
a symptom and a cause of prosperity—a symptom of
prosperity in the manufacturing classes, which were able
to pay them, and a cause of it to the agricultural classes,
which were benefirted by them. But high prices were
only desirable when they arose from a natural and
abundant supply, and a corresponding. demand for
it—not when high prices arose from scarcity of supply
In the latter event they could not be regarded as ad
vairtageous to any class of the people, but were in-
jurious to the whole community. He wished to state
this proposition, that as civilization advanced, ano
as the interests of a nation were multiplied, it became
necessary to extend equal protection to those varied
interests, so as to promote and preserve them in a
state of harmony and prosperity. Upon this prin-
ciple he wished the agricultural interest to be pro-
tected—he even wished not to see an _ acre of

ground in the courtly thrown out of cultivation ;
but he would not consent to defray the expenses of
cultivating it out of the industry and earnings of any
other portion of the people.—(Hear, hear). The Noble
Lord expressed his approbation at what he had heard
from the Chancellor of the Exchequer last night, namely.
that it was the intention of his Majesty's Ministers to
abide by a metallic instead of a paper currency. As a
metallic currency was resolved upon, he considered that
these Resolutions must necessarily be inefficient. It

could not be expected that corn would ever reach sixty-
four shillings. The price could not reasonably be
anticipated to exceed fifty-two shillings, even if it should
ever come up to it. The Noble Lord proceeded to
state, that the principle which regulated his conduct
3n this question, was the necessity of an established
trade in corn. Without it, prices would be always fluc-
tuating, and fluctuating prices were always most inju-
rious; for when prices fell the fall disenabled the farmers
to fulfil contracts into which they had entered when
prices were high. He wished to see that foreign trade
was unnecessary, and that England would yield a suffi-
cient produce for the whole of her population. He would
refer to see foreign trade rather in posse than in ease—
but he deemed the recognition of an established trade in
corn expedient and necessary. It was the entertainment
of these opinions, he feared, that made him regarded as
an unworthy Member of the agricultural interest, with
which he was most connected. In reply to what had

fsllen from an Hon. Member (Mr. irving) as to the
distress of the farmers, be begged to say, that as far as
he had an opportunity of being informed on this subject,
he was not a.vare that such distress prevailed.

Mr. Secretary PEEL thought that the Noble Lord
was incorrect in his position altogether, inasmuch as he
admitted that the scale of duties had not only not been
recommended by any eminent commercial man, but a
mars by no means intere.ted in agriculture. The Noble
Lord had talked of the landed interest squabbling for a
shilling upon wheat, a shilling upon oats, and even a
'lulling upon tares and barley. Toe Right Hon. Gen-
tleman could not consent to this opinion of the Noble
Lord. The landed interest was sent to that House to
do their duty--Mot fot one particular class, but for the
whole of the people. If, however, the proposition of
the Hon. Member for Montrose (Mr. Hume) should
be carried, that ten shillings should be the duty upon
the importation of foreign corn, the Noble Lord would
have no reason for gratulation hereafter. With
respect to the currency, to which also allusion had been
made, the Right Honourable Gentleman (M r. Secretary
Pc el) said that it was the determination of his Majesty's
Government to have a metallic circulation for the
country. The circumstances were never so favourable
as they were at present, nor could the object be attained
with less difficulty than at the present time. With.
out a determination of the question, there could be no
security—no contingency against bad harvests, and
however powerful the State might be wealth, such
contingency could not be met by a paper currency.
The Right Honourable Gentleman then proceeded to
comment on the proposition of the Hnnourab'e Member
(Mr. Hume), and remarked, that as that Honourable
Member thought the charges upon corn per quarter in
tlsis country did not exceed Ss. he was surprised at hi.
proposing to give 10s. Indeed he (Mr. Secretary Peel)
was surprised that the Honourable Member gave any
duty at all. The Honourable Member was, Weed,
such an advocate for foreign corn, that he (Mr. Se-
cretary Peel) wondered he had not proposed a bounty
upon the importation of the foreign article. Poli•
tical considerations were, however, mixed up in this
case, as had justly been remarked by the Honour-
able Member for Bedford ; that Honourable Mem-
ber had said that the Aristocracy and the Magis-
tracy of the country should have some protection,
as belonging to the Constitution of the country. Thi.
principle was a correct one, and be would add, that it
was highly improper that such an influx of foreign COM
should be imported as would destroy agriculture in
Ireland—a medium line should be drawn; but he was
quite sure that that would not be accomplished by the
amendments of the Hon. Member. who equally proposed
' when corn was at 70s. a duty of 10s. a quarter as when
it was at any other price. The question had, however,
' been so frequently discussed, and all parties appearing to
acquie.ce in the proposition of his Majesty's Ministers,
he (Mr. Secretary Peel) should content himself by saying
that he .hould abide by the original resolution.
Sir THOMAS GOOCH expressed himself greatly
pleased that his Majesty's Government had determimd
to return to a metallic currency. Hr (So. T. Gooch)
supported the plan, because it protected all interests as
much as they could be sustained ; though the plans Os
Government might not be quite so good as could be
desired, he supported them, because they were the best
that were lskety to be obtained.—(Hear)
Mr. MABRRLY said the pivot point had been advanced as.
without any adequate reasons being assigned for the sante.
The strangers were then ordered to withdraw. The numbers
were--
Tor Mr. Ihme's motion • 27
Against it • 339
Majority against Kr. Hume e propositioa —ll4