Blackwood's Edinburgh Magazine, Volume 66, No. 410, December 1849Various
History
Blackwood's Edinburgh Magazine, Volume 66, No. 410, December 1849
Various
England -- Periodicals; Scotland -- Periodicals
|All kinds |Flour. | |
Imported, month|of Grain. | Cwt. | Total. | Authority.
ending-- | Qrs. | | |
|----------+-------+---------+-------------------------------
April 5, 1849, |1,110,306 |320,764|1,213,888|London Gazette, April 20, 1849.
Aug. 5, 1849, | 990,270 |295,667|1,088,776| Ditto, Aug. 20, 1849.
Sept. 5, 1849, | 928,258 |332,434|1,039,269| Ditto, Sept. 20, 1849.
Oct. 10, 1849, |1,123,434 |290,713|1,213,640| Ditto, Oct. 30, 1849.
That it is this fatal dependence of the currency, and consequent
credit of the country, on the retention of its gold circulation,
under circumstances when, from the vast importation of grain going
forward, _it is impossible to retain it_, which is the real cause of
the calamitous state of the country for the last three years, and
not either the potato rot or the European revolutions, to which the
Free-traders ascribe it, is evident from the slightest consideration.
The potato rot of 1846, which has been the sheet-anchor of the
Free-traders ever since--the scapegoat which they hoped would answer
for all their sins--was never, by the most determined of their party,
set down as having occasioned a loss of above £15,000,000 sterling.
Call it £20,000,000 to avoid cavil. The strength of the case will
admit of any concession. Now, the value of the agricultural produce of
the United Kingdom, prior to the free trade in grain, was generally
estimated at £300,000,000.[24] A deficiency of £20,000,000, or a
_fifteenth part_, might occasion, doubtless, the most acute _local_
distress in the districts in which it was most severely felt; but it
could never, _irrespective of its action on the currency_, occasion a
general monetary and commercial crisis. England and Scotland exported
little or nothing to the boys of Munster and Connaught, where the
failure occurred. There is no more reason, had it not been for the
currency laws, why a failure of the potato crop in Ireland should have
produced a monetary crisis in Great Britain, than a failure in the
potato crop of Norway.
[24]
Viz.--19,135,000 arable acres, at £7 each, £133,945,000
27,000,000 acres of grass, at £6 each, 162,000,000
15,000,000 do. wastes, 5,000,000
-------------
£300,945,000
--PORTER'S _Progress of the Nation_, 158; 2d edition.
Public-domain text, read in full here on John Shaqi.
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