We have already made an approximation to the price which, in ordinary seasons, and under existing burdens and covenants, grain ought to bear, in order to yield a fair remuneration to the British grower. That price, as we have already said, has been held to range from 54s. to 58s. per quarter. This we hold to be a moderate computation; but if a further limit be desired, we shall admit--though for argument's sake only--that with great retrenchment and economy, curtailing his own comforts, but not materially reducing the wages of the labourer, the farmer may continue to grow wheat at an average of 50s., and nevertheless pay up his annual rent as before. A glance at former averages will show that this is a remarkably low figure; and, _being taken as an average_, it of course implies the supposition that in some years the price will be higher, in order to compensate for others in which it may be lower. Our primary business, therefore, is to ascertain whether, under the operation of the new system, prices can ever rise, supposing the present breadth of land to remain in tillage, above this average amount; or whether they must not permanently diminish so much as to destroy the vestige of an independent average in this country, and substitute foreign growing prices for our own. The question is a very momentous one, for it involves the existence of our national agriculture, and not only that, but the existence of the larger portion of the home market for our manufactures, compared with which our exports are comparatively as nothing. It is our earnest desire to approach it with all candour, temper, and moderation; and we shall not, if possible, allow ourselves to be betrayed into a single angry word, or discourteous expression, towards those who have differed from us hitherto in opinion. Neither shall we advance or reiterate opinions upon grounds purely theoretical. Ever since this contest began, we have taken a decided and consistent part, and have not scrupled to expose, by argument, what we held to be the glaring fallacies of free trade. That argument, necessarily inferential at first, has since been borne out and corroborated by every fact which has emerged; and, on that account alone, we think we are entitled to demand a serious consideration of the matter which we now lay before the public, as the result of an investigation, in the course of which no pains or trouble have been spared, and which may help to guide us all, be our politics what they may, to a true sense of the danger which must immediately arrive, if we remain but a few months longer in a state of fancied security. Our warning may be derided by some, but the day of reckoning is at hand. The first point, therefore, to which we shall entreat attention is, the prospect of future prices; regarding which we possess some information that may possibly take the reader by surprise.