Blackwood's Edinburgh Magazine, Volume 59, No. 368, June 1846Various
History
Blackwood's Edinburgh Magazine, Volume 59, No. 368, June 1846
Various
England -- Periodicals; Scotland -- Periodicals
It must appear, at first sight, not a little extraordinary that the very
causes which thus evidently led to the destruction of Rome, viz., the
unlimited importation of foreign grain and contraction of the currency,
are those which have been most the object of the policy of the British
government, for the last quarter of a century, by every possible means
to promote in this country. They were imposed upon Rome by necessity.
The extension of the empire over Spain, Africa, and Egypt, as well as
the magnanimous policy of its government towards all its subjects,
rendered a free trade in grain with the provinces, and large
importations from the great corn countries, unavoidable. Public
misfortunes, the increasing luxury of the rich, that very great
importation of grain itself, the failure of the Spanish and Grecian
mines, and the entire want of any paper currency to supply the place of
the metals thus largely abstracted, necessarily and unavoidably forced
this calamitous contraction of the currency upon the Roman empire. But
the British policy has adopted the same principles, and done the same
things, when _no necessity_ or external pressure rendered it
unavoidable. A free trade in grain is to be introduced, not in favour of
distant provinces of the empire, but of its neighbours and its enemies.
The currency has been contracted, not by public calamities, or any
deficiency in the means of supplying the failure of the ordinary sources
of gold and silver, but by the fixed determination of government,
carried into execution by repeated acts of Parliament in 1819, 1826, and
1844, to abridge the paper circulation, and deprive the nation of the
benefit of the great discovery of modern times, by which the calamitous
effects of the diminution in the supply of the precious metals
throughout the world have been so materially prevented.
Public-domain text, read in full here on John Shaqi.
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