The Liverpool Standard and General Commercial Advertiser.
Liverpool, Merseyside, England, 1842-09-23 00:00:00

14 years

From the first of these tables it appears that, from the
28th of April (when the new scale came into operation) to
the last week in August, a period of eighteen weeks, no
less than 2,457,931 quarters of corn were entered for
consumption, a! an average duty of Bs. 4d. per
quarter, thus contributing to the revenue an aggre-
gate amount of £974,024, during these five months !
During the whole of this period the fluctuation in
prices has been, without precedent, slight, ss. 6d. per
quarter being the extreme variation during the entire
period. In the last week too, after the admission of
this vast quantity, it will be perceived that the average
price of wheat remained nearly two shillings per quar-
ter higher than at the beginning of May.
By the second table it appears that, in the previous
14 years, under the old scale, we imported, on an ave-
rage, one million quarters per annum, at an average
duty of ss. 7d. per quarter, producing an average an-
nual duty of something less than £300,000, the annual
importation being much less than one half, and the
revenue produced less than one third of that derived
during the past 18 weeks. Out of the total importa-
tions, however, amounting in the 14 years to 14,914,547
quarters, between nine and ten million quarters were
imported in the last four years ; in 1833, the importa-
tion was only 1368 quarters; in 1834, 294; and in
1835, 141 quarters ! The extreme fluctuation in price
has been in these fourteen years 31s. 4s. per quarter,
the average in 1835 being 395. 4d.,. and in 1839,
70s. Bd.

Upon these tables the London Times of Tuesday
last has endeavoured to erect an argument in favour
of a further modification of the Corn-laws--the total
annihilation, in fact, of the principle of a sliding'
scale, and the adoption of a low fixed duty. From the
fact that in the face of a fair harvest—(the Times calla
it " an abundant " one, which we can scarcely take to
be its correct designation)—the average price, notwitlP
standing our large importation, is still maintained at
61s. iod. in the beginning of September, our contem-
porary suggests that the protection afforded to the
farmer by duties upon the importation of foreign corn
is proved to have been greatly over-rated, and that be
may dispense with that protection to a greater extent
than at present, without sustaining injury. Our con'
,temporary
takes it for granted that importation has not
reduced prices. Arguing upon the state of the aye'
rages as shown upon the face of the above tables, be
says, " the fact is most extraordinary—but hitherto
such is the fact," that importation " has not produced
the cheapness of corn, which might have been pre'
dieted ;" and when we see that by reduction of duties
an abundance of the staff of life has been placed
within our reach, we are urged by the Times to " par'
sue to its legitimate limits a course of so great pro'
mise and open to so little objection."
With all deference, however, to our contemporary,
we must deny the correctness of his premises. It sd
not true that corn has not been cheapened by the late
extensive importations, although we admit that the
reduction in price does not appear upon the face of the
corn inspectors' returns. Free trade philosopher°,
such as the Times, should know something of the sub-
ject upon which they write, before giving to the world
their crude conclusions ; and had the Times made the
inquiry from any intelligent factor in Mark-lane, or
elsewhere, he would certainly not have ventured upon
the extraordinary doctrines which he has founded uP°l2,
his want of conversance with the practical bearings 01
the question. Either the Times and its correspenden!s
have been agitating, for weeks past, for a reduction in
the price of the loaf, which the baker and the dour
dealer cannot afford, or the price of wheat has fallen'
and that considerably ; and we should like to hear the
Times explain, whether that agitation has been "II