The Statesman.
London, England, 1820-05-23 00:00:00

• . •
(wording to Mr. Mall's theory); the employment of
which is not only to enable the manufacturer to bear
the rise, bpt to free him from his present difficulties.
21Ity, Althongh the domestic demand for manufactures
might be increased, the foreign demand must be
lessened by the rise of price. idly, Domestic demand
itself would be decreased ►y the emigrations, that
would most iertainly follow a rise in the price of
living. 4thly, A rise in the price of all commodities
would ~irely follow a rise in the price of corn; thus
restoring- the balance of profits, and reducing the real
value to the landed interest, by the same process as the
rise would affect the profits of the manufacturer.
According to Mr. Hall's hypothesis, the net prefix,
or the wealth created by agriculture, is as 99 to 216,
or somewhat less than one half of the gross product.
It sreins,.therrfore, that the reciprocating influence
of these effect. would neutralise the assumed benefits
to he derived from the cause. We are the more firmly
perriadcd of the inefficacy of Mr. Hall's proposition
from the mere amounts of the deficit in revenue
and of the poor rates. The first is 16 millions; the
se,ond, with private benevolences, are calculated at
It millions.

If revenue be now to production as one to six,
ninety--ix millions of additional production are ueces-
vary to re-produce the present deficiency. Whatever
sum augmented value, about twenty-six millions, ad-
mitting the addition of the prime and to be in exact
proportion, and that no other addition to their own
expenses were made than those occasioned by the rise
itself, would thus remain to the agriculturists fur ex-
penditure in articles of commerce. Now these twenty-
six millions are to compensate a rise of 25 per rent.
upon subsistenre ; and Mr. Dell deducts, as the prime
eost (which, in point of fact, is nearly all subsist-
ence, taxation perhaps excepted), from the wealth
created by commerce, Ifil millions ; thus, then,
twenty•six minions of additional income would just be
met by an unavoidable additional expenditure, on the
part of the commercial interest, of one-fourth, or for-
ty-tire millions, according to the same proportionate
augmentation of prime cost ; in that the commercial
population of the country would be called upon to con-
tribute nineteen millions more than the total amount
of the possible augmentation of demand fur those coin-
modifies, created by the nominal rise in the price of
agricultural produce, admitting (which would not be)
that the landed interest did actually expend the whole
of their additional gains in articles of commerce. We
have takes Dr. Colipthoun's and Mr. Hall's data, but
it must not be forptten that the prices of commodities
are greatly reduced since.that estimate was taken ; by
so muck, therefore, is the fallacy increased.
_ .

send, but su is Mr. Hall's, and too general to &digit of
proof. For instance, that gentleman estimates the
depreciated value since lb lls (a year of short growth),
at the entire difference between the price of corn now
and then, allowing nothing for the difference in the
produce of the crop. Such a niode of computing is
clearly fallacious. Ile then assumes bvpothe ically,
that it has rust England seventy-two millions " for the
single porpose of enabling our merchants an, manu-
facturers to vend ten or fifteen millions' worth of their
commodities in foreign markets." Mr. Hall must
know better. lie must be aware that the importation
of foreign torn was allowed, Sot in refirence to Jeer-
chant, or teeerfarterers, het to guard the community
f on, the tooseyeewees of 4 profited!, dellriekt swpply.
Nor indeed does his statement apply in other respects.
he prices of corn have not been atfected solely by the
competition of foreign growth, nor have they been the
only commodity that has suffered depreciation. As
well *tight the cotton manufacturer, computing the
depression upon the whole product of his Haile, ex-
claim—and " thus has it cost England so many mil-
lions for the sole purpose of enhancing the value of
land."—As well might .the dealer in hardware, in
woollen cloth, in short in every article that has suffered
a depression, attribute the fall to any imaginary cause,
and call it a loss to the country. The country neither
loses nor gains by fall ur rise in the aurNikel price of
an article which is not exported, and which therefore
is not employed to purchase the products of other
countries. It matters not to the action what may be the
money price of commodities exchangeable only among
themselves. The national wealth in this confined
sense is affected only by the quantity of production.
The agriculturist barters his commodity for the cum-
mortity of the manufacturer, and if casualties occasion
a disproportionate rise en either side, that rise must
soon he. reduced to its fair level by counterbalancing
causes, wliich are always at work. Bet what tare we to
say to 31r. eisimateel loss of seventy•two millions,
when epos
.11/4Tring to Carthorses eskilotiome, we
*fad he took the prier of H seat at only tempeters higher
than preocalt arerere, when he competed the pro-
doer al 216 millioas ; Barley one pexey higher, end
the et.njuinett errnerr of Oats, Pees, sod Beene, in fe-
rvor of the preenst soersgc f Thus falls to the ground
his whole computation of the losses he states the
country to have experienced.
The only provisions that can afford edeleate relief
to the distresses of the country, are those which will
promote paodietios and distribution: and if provi-
sions to such an latent cannot be found, it must be
'tinifir • obvious that no decrease of our burdens or our
cfistresbeisesu be reasonablv,anticipated.
E.lfeketarsivr FUR THE POUR.
PDOTBST CD A 1110,101" TUAIP • •D4.IIICTCDUMITTSI as AP.
POINTS. To CONISIOID TAD INIARICADILITY AND TIM
!RR! I Ottnevaorse forruirlsawr DOR Tea coon, Psi-
irsomassir upymwsaastraeveSasiesinrreirrs."
Disarm Own" it ie, is my opinion, the
duty of Parlimswesl esseider the practicability aid
the- greens of alievis4isg•the distress which at present
'exists is ossmaislasse of the want of employment for
the poor, particularly as that distress has in many parts
pot the. coluserp rendered dangerous the staehinations.
of the disaffected, and has already produced much dis-