The immense influx of foreign grain which followed the opening
of the ports in 1849, and the immediate fall of price, were
calculated to alarm not only the farmers, but even that section of
the Free-Traders who believed conscientiously that the productive
powers of Europe and America were unequal to the supply of so very
considerable a surplus. It is no wonder that the farmers were
frightened, when they saw grain coming in at the rate of a million
of quarters per month! They were, however, told by the highest
Free-trading authorities in both Houses of Parliament, and the same
view was violently maintained by the Liberal press, that their
fears were altogether groundless; that such importations could not
possibly be maintained; and that the first inundation was simply
caused by an accumulation of corn at the foreign ports, stored up
in readiness for the opening of the English market--a contingency
which could not happen again. The utmost pains were taken, by those
who had consented to the repeal of the Corn Laws, to persuade the
farmers that the low prices of 1849 were attributable principally to
the superabundance of the harvest at home; and they were exhorted
to wait patiently, but hopefully, for the advent of better times.
In short, every means were taken to persuade the agriculturists
that they were labouring under a temporary but not a permanent
difficulty, and that a very short time would suffice to restore them
to their former condition. But no one attempted to maintain, in
1849, that, if wheat continued to sell at or about 40s. per quarter,
its cultivation could be profitable in Britain; and when, at a later
period, one or two rash theorists attempted to broach that doctrine,
they were instantly put to silence by the overwhelming nature of the
proof which was brought against them--not the least instructive part
of it being the admissions of the leading Free-Traders as to what
really was, on an average of years, the remunerative price of wheat
to the British grower.
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.
Join the Discussion
Join the discussion
Sign in to leave a comment or review.
Sign InorCreate an account