Blackwood's Edinburgh magazine, Vol. 71, No. 439, May, 1852Various
History
Blackwood's Edinburgh magazine, Vol. 71, No. 439, May, 1852
Various
England -- Periodicals; Scotland -- Periodicals
We must not, however, pass over without notice, the circumstances which
led to the extraordinary development of industry and enterprise in Great
Britain, in every department. Without consumers, it is quite evident
that agriculture could not have advanced with such rapid strides; and it
is important that there should be no misunderstanding on this matter.
The possession of a hundred or a thousand acres of land is of little
value unless the owner can command a remunerative market for his
produce; nor will he cultivate his land to the utmost unless he has the
assurance of such a market. It is all very well to say, that, by the
expenditure of a certain sum of money, such and such an amount of crops
may be reared on each acre;—that is a mere feat of agricultural
chemistry, such as Mr Huxtable offered to undertake upon pure sand with
the assistance of pigs’ dung; but the real and only question is—will the
return meet the outlay? Without some unusual and extraordinary cause to
increase the number of consumers, it is clear to us that the progress of
agriculture must have been comparatively slow; and accordingly, we find
that cause in the Continental war, which continued for nearly a quarter
of a century, and which has effected such mighty changes—the end of
which is not yet apparent—in the social position of Great Britain.
To maintain that war, the resources of this country were taxed to the
utmost. So great were the demands, that they could not possibly have
been met but for two things—one being the result of internal
arrangement, and the other arising from external circumstances. The
first of these was the suspension of cash payments, and the extension,
or rather creation, of credit, arising from an unlimited paper currency.
The second was the monopoly of the foreign markets, which we engrossed,
in virtue of our naval supremacy. No writer on the social state of
Britain, even at the present hour, and no political economist who does
not specially refer to these two circumstances, are worth consulting.
Better put their volumes into the fire, than discuss effects without
regard to their antecedent cause.
Public-domain text, read in full here on John Shaqi.
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