Now, on the other hand, under a system of free importation, whenever a
redundant crop in England coincides (as often it does) with a similar
redundancy in Poland, the discouragement cannot but become immoderate.
An excess of one-seventh will cause a fall of price by three-sevenths.
But the simultaneous excess on the Continent may raise the one-seventh
to two-sevenths, and in a much greater proportion will these depress
the price. The evil will then be enormous; the discouragement will be
ruinous; much capital, much land, will be withdrawn from the culture
of grain; and, supposing a two years' succession of such excessive
crops, (which effect is more common than a single year's excess,) the
result, for the third year, will be seen in a preternatural
deficiency; for, by the supposition, the number of acres applied to
corn is now very much less than usual, under the unusual
discouragement; and according to the common oscillations of the season
according to those irregularities that, in effect, are often found to
be regular--this third year succeeding to redundant years may be
expected to turn out a year of scarcity. Here, then, in the absence of
a corn-law, comes a double deficiency--a deficiency of acres applied,
from jealousy of foreign competition, and upon each separate acre a
deficiency of crop, from the nature of the weather. What will be the
consequence? A price ruinously high; higher beyond comparison than
could ever have arisen under a temperate restriction of competition;
that is, in other words, under a British corn-law.
Public-domain text, read in full here on John Shaqi.
Reviews
Reviews
No reviews yet
Be the first to share your thoughts on this work.
Elsewhere in the archive
Join the Discussion
Join the discussion
Sign in to leave a comment or review.
Sign InorCreate an account