keeps a table like his landlord, anticipates seasons in their productions, is as choice in his wines, his horses, and his furniture.' Let him be more thrifty. 'Let him dismiss his steward, a character a few years back only known to the great landowner, and cease from degrading the British farmer into a synonym for prodigality.' Lord Liverpool, in the House of Lords, in a speech which roused great opposition among agriculturists, minimized the distress; distress there was, he admitted, but it was not confined to England, it was world-wide; neither was it produced by excessive taxation, for since 1815 taxation had been reduced 25 per cent., while though rents and prices had fallen they were much higher than before the war. Another writer said at the time, 'Individuals of all classes have of late been as it were inflated above their natural size: let this unnatural growth be reduced; let them resume their proper places and appearances, and the quantum of substantial enjoyment, real comfort and happiness, will not be found lessened.' It was also asserted that the taxes on malt, leather, soap, salt, and candles, were not very pressing. The persistent cries of distress produced a Bill giving still further protection to corn-growers, which was fortunately not carried into effect. There was no doubt, however, about the reality of the crisis through which the landed classes were passing. Many of the landowners were heavily in debt. Mortgages had been multiplied during the war, and while prices were high payment of interest was easy; but when prices fell and the tenant threw up his farm, the landlord could not throw over the mortgage, and the interest hung like a dead weight round his neck.[592] The price to which wheat fell at the end of 1822 was to be the lowest for some years; it soon recovered, and until 1834 the average annual prices ranged from 53s. to 68s. 6d., while in 1825 beef at Smithfield was 5s. and mutton 5s. 4d. a stone. In 1823 there was a marked improvement, and the king's speech congratulated the country on 'the gradual abatement of those difficulties under which agriculture has so long suffered.'[593] In 1824 'agriculture was recovering from the depression under which it laboured.'[594] In 1825 it was said, 'there never was a period in the history of this country when all the great interests of the nation were in so thriving a condition.'[595] In that year over-speculation produced a panic and agricultural distress was again evident. In 1826 Cobbett said, 'the present stock of the farms is not in one-half the cases the property of the farmer, it is borrowed stock.'[596] In 1828 all the farmers in Kent were said to be insolvent.[597]