An inquiry into the permanent causes of the decline and fall of powerful and wealthy nations : $b Designed to shew how the prosperity of the British empire may be prolongedPlayfair, William
Philosophy
An inquiry into the permanent causes of the decline and fall of powerful and wealthy nations : $b Designed to shew how the prosperity of the British empire may be prolonged
Playfair, William
Economics; Great Britain -- Economic conditions; History -- Philosophy
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{214} Suppose that, of the waste lands, eleven millions of acres were
cultivated, and that as much as possible (suppose five millions) were
always in grain, those five millions would be able to supply the nation
nearly in an ordinary year. A law might also be made, compelling all
landlords and farmers to have only three-fourths in grass; this could be
no hardship. There would then be always corn in plenty; monopoly
would be prevented, because anxiety would be avoided; for a real
deficiency to a small amount gives cause to great anxiety and grievous
monopoly. The waste lands, when disposed of, might have whatever
condition attached to them was thought fit.
{215} We say persisting in this system, for when bread fell to be at a
moderate price, last summer, (1804,) the outcry amongst the farmers
was great and violent, and the legislature altered the law about
exports; the consequence of this was, that the price of wheat rose
regularly every week till it was doubled. All this was the effect of
opinion, for the price of corn rose too quickly to allow any to be sent
out of the kingdom, by the new law.
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trade is a principle not to be adopted without limitation, but with due
regard to times and circumstances; let it then never be invoked upon a
general question, without examination. Though this is the true way of
arguing the question, let freedom of trade be taken in another way; let
it be considered as a general principle, it will then be immutable, and
cannot be changed. {216} The present corn-laws must on that
principle be done away, and no bounty allowed for exportation or for
importation, which indeed would be the best way; but, at all events, let
us have one weight and one measure for both parties, and not invoke
freedom of trade to protect the corn-dealers when prices are high, and
enact laws to counteract the effects of plenty, which produces low
prices.
On this subject, government must set itself above every consideration,
but that of the welfare of the country: it is too important to be trifled
with, or to be bartered for any inferior consideration.
The prices of our manufactures will soon become too high for other
nations. Our inventions, to abbreviate labour, cannot be perpetual,
and, in some cases, they can go no farther than they have already
gone; besides, the same inventions, copied by nations where labour is
cheaper, give them still a superiority over us.
If increased consumption was the leading cause of the destruction of
Rome, to which money was sent from tributary nations, and employed
to purchase corn, (so that its supply was independent of its industry,)
how much more forcible and rapid must be its effects in this country,
living by manufactures, and having no other means to procure a
supply from strangers, when that is necessary? {217}
The burthens of our national taxes continuing the same, those for
Public-domain text, read in full here on John Shaqi.
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