Latterly, indeed, some portions of the public press have shown
symptoms of being more specific, and very glad should we be if
Ministers would follow that example. We are told that present
prices are merely exceptional, and that they must shortly improve.
The mere adoption of this argument shows that such writers dissent
from the doctrine that cheapness is an unqualified blessing--that
they still believe in their hearts that it is impossible altogether
to separate the interests of the producer and the consumer--and
that they are still alive to the fundamental political axiom,
that the wealth of a country depends mainly upon the value of its
produce. Were it otherwise, they would be supporters of the most
astounding paradox that was ever advanced. The price of the loaf
must rise correspondingly with that of the quarter of wheat: beef
and mutton are sold by the stone or by the pound, in proportion to
the market value of the living animal. If wheat were to rise to
56s., which is said to be the average cost of its production in
this country, bread would become so much dearer, and, in that case,
the working-man could be no better off than he was before the corn
laws were repealed. We have heard it said, and we firmly believe
it to be the case, that many of the public men, of both parties,
who voted with Sir Robert Peel, did so under the full conviction
that there could be no material decline--that they were misled by
the onesided, imperfect, and fallacious reports as to the state,
quality, and extent of the Continental harvests, which were laid
before Parliament--and that they never would have consented to such
a measure, had they foreseen the results which are now unhappily
before us. We gather this, not merely from rumour, but from the
tenor of the speeches delivered in the House of Commons in 1846. Sir
James Graham and Lord John Russell both treated as visionary the
notion of any material decline--Lord Palmerston went further; and
we think it useful to lay before our readers the following excerpt
from his speech, delivered on the occasion of the second reading
of the Corn Importation Bill. Referring to the surplus quantity of
Continental grain, he said--
Public-domain text, read in full here on John Shaqi.
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