The Liverpool Standard and General Commercial Advertiser.
Liverpool, Merseyside, England, 1840-09-22 00:00:00

ECCLESIASTICAL AND UNIVERSITY

INTELLIGENCE

(From the Oxford Herald.)
PROMOTIONS.

We have heard, with pleasure, that the Rev. T. Garrett,
B.A. of Queen's College, Cambridge, a native of Shaftesbury,
a gentleman of high literary attainments, has been resented
to a church, value £4OO. per annum, in Jamaica, by the Right
Rev. the Bishop of that Island.—Salisbury Herald.-
' Rev. Charles Nate, 8.D., Fellow of St. John's College,
1 Cambridge, to the Vicarage of Holme, in Spalding Moo,

Yorkshire, vacant by the death of the Very key. Dr. Cal-
vert ; patrons, the Master and Fellows of St. John's College.
Rev. John Booth, Perpetual Curate of Stanford Bishop
and Wacton, Herefordshire, to be one of the Six Divinity
Lecturers fo-unded in the Church of Bromyard, vacant by the
death of the Rev. J. Wood Duppa, M. A. of Christ Church.
Rev. Mr. Penny, son of the Rev. Mr. Penny, of Fox Hall,
Cubetsty, Essex, to the Curacy of Romford, vacant by the
resignation of the Rev. J. Wix. _

Rev. Henry Nicht)lson Burrows, M.A. of Trinity College,
Cambridge, and late Principal of Hull College, to be one of
the Domestic Chaplains to the Duke of Sutherland.

WORKING OF THE CORN AVERAGES

TO THE EDITOR OF THE SCOTTISH STANDARD

!Diistsuu.okt, Sept. 15, 1840,

Sin,—l cannot but think it due to p.m to state, even
through your own columni, that ever since you have come
amongst us, you have distinguished yourself, by taking up
and fully discussing every subject that you could consider of
importance to the country. In the department of agricul-
ture you have been particularly assiduous—and I think not
in vain ; nor do you seem to omit any opportunity of defend-
ing the outworks of the system you have endeavoured to
establish. It is upon this subject I now wish to address you,
and I shall endeavour to convey what I have to say iu as few
words as possible.
The last great operation of the corn importers for the
year, has just been completed ; and it has been for them
most triumphant—most disastrous for the country. In the
port of Loudon alone about a million of quarters have been
let loose upon the last occasion. Even in Leith seventy
thousand quarters have been released, as you correctly state.
Your contemporaries have stated it at twenty-six, but this
is to content themselves with recording only the operations
of one day. All the other ports included, the release cannot
have been of less than two millions five hundred thousand
quarters; and this, be it remembered, upon this single
occasion.
Now, what will be the conduct of the corn-importers ?
They have not released all their stores—that might have
caused a real fall of price. They have released what to the
best of their judgment may be left free, without the risk of
causing any considerable depression.
But if auy considerable importations should be ventured
on by INTRUDERS, they would immediately sink the averages,
that by raising the duty they may have the market sealed
against all releases capable of interrupting their profits.
This is precisely the state of things pointed out seven years
ago, by a writer who has since become one of your most in-
dustrious correspondents. He then spoke as follows :
" Supposing the cheap corn of Poland introduced at a shil-
ling or two shillings a quarter, the merchant, after all charges,
has probably a power of profit of from thirteen to fifteen shil-
lings, because the British farmer cannot produce at less than
leaves this difference. To all this extent, therefore, the mer-
chant can dally with his subject, and by means of a very
small stock of foreign corn, command the markets and the
produce of the native farmer at his own price ; for the mer-
chant, so circumstanced, can sell with profit where the far-
mer'cannot ; and the fanner necessarily prefers selling to the
merchant to competing with him in the market, because he
cannot compete with him without ruin. Thus the fanner ris
robbed because he fancies he has a protection. and acts ac-
cordingly, and he has no protection. The treasury is not
enriched, for it receives in general only the lowest duty pos-
sible; yet the article is not lowered to the country, for the
whole grain imported and native is kept us high as possible,
so that the country is every way injured in its private as well
as in its public capacity, in every one to whom the grain is
kept dear, as well as in its treasury, to which the lowest pos-
sible duties are paid."—lmportance of Agriculture, by D.
Bain. _ _

The state of things here so strongly depicted seven years
ago, is in no single point altered at this moment, except that,
instead of a gain of from 13s. to 15s. a quarter, it will this
year be nearly of twice that amount !
Thus, supposing corn purchased on the continent at 20s.
per quarter ; in many instances it is greatly less,—and if it is
higher, (and in some places it is habitually double,) it is held
by English capitalists for their certain London dupes ; and
supposing 20s. to be added for charges, which is the highest
ever estimated, the total expense of a quarter of this corn,
including a duty of 2s. Bd. may safely be
stated under
And the price in the market, in order to
reduce the average to the proper point,
was lately

3 12 0

1 10 0

On 2,300.000 quarters for the merchants
Loss to the country in purchasing 2,500,000
quarters at the supposed price of 20s.
Shipping and other charges of import, duty,
&c. being so much misapplied

3,750,000 0 0

2,500,000 0 0

2,750,000 0 0

Capital lost and misapplied by transactions
to the amount of 2,500,000 quarters ....

9,000,000 0 0

. . .
Of which directly lost to the country, the
purchase price at 20s.

2,500,000 0 0

STATE OF TRADE

If it is more (and it is often 485.) the loss is increased ac-
cordingly.
That the purchase money of all corn imported, Is lost to the
state, is now nearly universally admitted ; as foreigners es-
pecially want our money, and do not want our goods, and
therefore receive money only in return for corn. The neces-
sity for this is indeed demonstrated in very few words by the
authority from which I have already quoted.
" It may be said that a new market would be opened (says
Mr. 13.) by every cargo of grain received. But is this cer-
tain ? And if certain, then to what extent ? We know that
no where is the raiser of grain the sole proprietor of the soil,
He has rent to pay, and therefore at the utmost can only re-
ceive his own part in goods ; and that is everywhere more
trivial than it is at home. In most of the corn countries,
indeed, the peasant is a slave and can purchase little." And
as he states elsewhere, (though 1 cannot at the moment find
the passage) " the owners of these slaves have taste? for other
than English goods ; for silks from Prance or Persia ; jewels
and arms from other countries, often such as we cannot fur-
nish at all, or if we could furnish them, then never at such
a price ; money for horses and useless attendants,—and even
for a barbarous hospitality."
See, then, the effect of diverting only nine millions annually
(supposing that,to be equal to the transactions in corn for a
whole year,) from our own agriculture and agriculturalists !
It is this—to repress by that much the cultivation of land,
and the production of all the usual results of agriculture ' • not
only corn and straw, but beef and mutton, bacon and poultry,
tallow, wool, and leather, and above all, vegetables. It in^y
almost be said to be a national loss to the whole extent of the
misapplication ; for if the merchant applied his profits as the
farmer would his, he merely receives and expends the money;
he adds nothing to the national wealth as the farmer does.
But the merchant does not so expend his profits. He uses
many foreign luxuries, and in that way employs again a class,
that instead of producing to the country, is like himself
throwing its capital away ; and by far the greatest part of his
profits, the importer of corn expends in conducting transac-
tions abroad ; in encouraging the agriculture of other coun-
tries instead of his own ; in building quays, harbours and
warehouses there, for the convenience of their commerce ;
and perhaps assisting their governments by loans, that are to
be applied in combating his own country in other fields than
even that of industry. In short, the importer of corn unne-
cessarily is in every light an antipatriot ; and the whole ten-
dency of his operations is, to render the import, at first un-
necessary, every year greater.
It has therefore occurred to me—and this is the great point
in this letter, and to which I beg leave to call the attention
of all who may see it—it has occurred to me, that some such
scheme as the following should be adopted
First.—Corn at 60s. per quarter would, according to the
best computations, give the four-pound loaf at 61d., including
the baker's profit ; and sixpence half-penny is considered a
moderate price.
Second.—One million of pounds placed in the hands of
government, would at any time produce one million of quar-
ters of corn, at the fair price where corn ought to be sought.
Third.—Let the agricultural interest allow themselves to
be assessed to the extent of raising a sum of one or two
millions, to be placed in the hands of government for the
following purpose—namely, of importing corn, as soon as
corn shall rise above 60s. or 635. in the fair market ;—but
except such importation in guarantee, LET ALL DEALING IN
FOREIGN CORN CEASE.
Of course there must then be no forestalling of markets,
by corn merchants dabbling in corn. There could be no
temptation, for the article must not be sold in the British
market at a price exceeding 60s. or 63s.—and yet the farmer
would receive a surer profit than he draws at present, high
as the prices of corn occasionally at present go to.
This, I believe, would give a steady price to corn—certainly
a moderate one. Agriculturists being thus chargeable with
the supply of the market, would of course be entitled to have
the proceeds of their assessment managed by a board acting
strictly for them. The supply of the deficiency could not
by any chance cost the country, through the agriculturists,
the sum it annually costs the country at present as a general
matter ;—while the farmer has taken out of his pocket, not
merely the actual price of the corn imported, but is Conti-
nually met in the market, and beat down in every direction,
by the holder of foreign corn competing with him as a sys-
tem ;—and therefore he may be said to lose, not only the
price of the foreign corn, but all the profits of the merchant.
I am, sir, your obedient servant,
AGRESTIS.

LcEDa.—There was a considerable amount of business
done in the cloth halls on Saturday., but on Tuesday, owing
to the limited supply of fresh goods occasioned by the wetness
of the preceding day, the purchases were far from extensive.
The stocks of bale goods in both the halls are very limited ;
scarcely ever were they known to be so low.
BRADFORD MARKET.—The attendance of buyers at this
market on Thursday was limited, occasioned by two causes,
the wetness of the morning and the cup race at Doncaster.
Nevertheless there was a fair business done, and prices were
firm, the supply of manufactured goods principally in request
being very limited. In the yarn market the sales were brisk
at former rates. The wool market did not, however, partake
of the general animation ; the transactions were few, and
there was no improvement in prices.
HUDDERSFIELD MARKET.—The demand for heavy winter
goods still continues brisk, and a fair general trade was done
on Tuesday in most descriptions of woollens. Light fancies
are not quite so much in request as is usually the case at this
season. Prices remain firm, but do net improve. In wools
there was a fair demand, at late prices. Business in the
warehouses during the week has been satisfactory.
WAKEFIELD WOOL MARKET, Sept. 18.—The trade still
remains in a very dull state; it is, however, recovering from
its late torpidity, though slowly. In the better sorts there
is a slight improvement in price.
ROCHDALE FLANNEL MARKET, Sept. 14.—The flannel
market has been quite as brisk to-day as on the preceding
Mondays. The demand remains steady, but there is no
advance in price. In the wool market there is no change.
LANCASHIRE.—The cotton spinning and power-loom
weavers at Stockport have more work than they had a few
weeks ago, and the machinery in nearly all the cotton mills
is in full operation, but, on account of the late turn-outs,
many factory operatives resident in the town have not yet
been able to get employment ; strangers from other places
have got their work, at wages from ten to fifteen per cent.
lower than they were twelve months ago. The cotton trade
at Hyde, Ashtbn-under-Lyne, Stayley-bridge, Newton- moor,
&c., is much the same as we stated a few weeks since : the
fancy. quiltings at
machinery in the mills is generally running full time. The
hand-loom weavers of counterpanes and
Bolton have for many months past been in distressed circum-
stances, both on account of the scarcity of work and low
wages'paid to the operatives ; but things have now rather a
better appearance. Many persons are of opinion that the
late Chartist agitations have injured the trade, both here and
in other towns ; it is a fact that operatives have tad more
work in those towns where Chartism has been regarded as a
delusion. The woollen trade of Bury is in a moderately
healthy state, but mechanics and machine makers are slack
of work. The calico block printing at two large shops is not
so brisk ; operatives, likewise, have less work than they had
last week. The various trades in those towns we mentioned
in onr last are much the same, except stone-masons and
house-carpenters, whose work is now becoming more scarce.