Blackwood's Edinburgh Magazine, Volume 58, No. 362, December 1845Various
History
Blackwood's Edinburgh Magazine, Volume 58, No. 362, December 1845
Various
England -- Periodicals; Scotland -- Periodicals
remunerate those who have the good fortune to reap a crop of wheat of
good quality, and the low prices of the inferior wheat will have the
effect of keeping the aggregate average price at a medium figure, and,
by maintaining a high duty, will prevent the influx of inferior grain
to compete with our own inferior grain in the home market. The law
thus really affords protection to those who are in need of it--namely,
to such farmers as have reaped an inferior crop of wheat; while those
foreigners who have fine wheat in bond, or a surplus which they may
send to this country, can afford to pay a high duty on receiving a
high price for their superior article. Taking such a state of things
into consideration, we cannot conceive a measure more wise in its
operation, inasmuch as it accommodates itself to the peculiar
circumstances of the times, than the present form of the corn-law.
Were that law allowed to operate as the legislature intended, it would
bring grain into this country whenever a supply was actually
necessary; but we cannot shut our eyes to the mischievous effects
which unfounded rumours of its suspension have already produced in the
foreign market. Owing to these reports, propagated by the newspapers,
the holders of wheat abroad have raised the price to 56s. a quarter,
free on board; and as the same rumours have advanced the freight to
6s. a quarter, wheat cannot _now_ be landed here in bond under 66s.
The suspension of the corn-law would tend to confirm the panic abroad,
and would therefore increase the difficulties of our corn-merchants,
in making purchases of wheat for this market. It seems to us very
strange that sensible men of business should be so credulous as to
believe every idle rumour that is broached in the newspapers, so
evidently for party purposes; for the current report of the immediate
suspension of the corn-law originated in the papers avowedly inimical
to the Ministry. The character of the League is well known. That body
has never permitted truth to be an obstacle in the way of its
attempts.
Public-domain text, read in full here on John Shaqi.
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