It is extremely remarkable, too--and to this point we in an especial
manner request the attention of our readers--that the distress is felt
_much more strongly in the commercial than the agricultural classes_.
Indeed, were it not for the increased weight of poor-rates, owing to
the manufacturing distress, the multitude of railway labourers thrown
idle by the stoppage of their lines, and the number of land-holders
who have had their finances crippled by the universal fall of railway
and other shares, it may be doubted whether there would now be any
agricultural distress in the empire at all. Where it exists, it is
entirely the reflexion or re-echo, as it were, of commercial ruin.
This is the more remarkable, that the only serious and real disaster
which has affected the country since the depression began, has been
the failure of the potato crop in 1846, which of course blasted, in
the first instance at least, the labours of the cultivators only; and
that the distress now felt as so poignant has been continued only, not
created, by the French and German revolutions. Down to February last,
no class had suffered by real external calamity but the farmers: and
yet the distress which has become so extreme, has arisen not among
them, but among the merchants and manufacturers. This, too, has
occurred at a time when a great change has been made for the interest,
and at the desire, of the commercial classes, in our foreign
mercantile policy,--when free trade has been introduced, to cheapen
bread, lessen the cost of production, and facilitate exchanges; and
when the ruin which was anticipated from the measure was not to the
commercial but the landed interest. This is one of the most remarkable
circumstances in our present condition, and one on which it most
behoves both our legislators, and all interested in their country's
welfare, to ponder.
Public-domain text, read in full here on John Shaqi.
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