Free-traders, in or out of Parliament, are honest in their views--as
many of them, we believe, undoubtedly are--they are bound to tell us
how far and how long they intend this experiment to last? Of course,
if it is no experiment at all, but an absolute rigorous finality,
there is no need of entering into discussion. If everything is to be
sacrificed for cheapness, let cheapness be the rule; only do not let
us behold the anomaly of the advocates of that system prophesying
a rise of prices as a general boon to the country. If otherwise,
surely some tangible period should be assigned for the endurance
of this _experimentum crucis_. We entirely coincide with Lord John
Russell in his dislike to vacillating legislation, and we have no
wish whatever to precipitate matters. We think it preferable, in
every way, that the eyes of the country should be opened to a sense
of its true condition by a process which, to be effectual, cannot
be otherwise than painful. But we are greatly apprehensive of the
consequences which may arise ere long, from the obstinate refusal
of Ministers to give the slightest indication of their intentions,
supposing that the present prices shall continue; or to indicate
what relief, if any, can be given to the industry of the nation.
As to the permanent nature of the fall under the operation of
the present law, we entertain not the slightest doubt. There is
no one symptom visible of its abatement; on the contrary, the
experience of each succeeding month tends to fortify our previous
impressions. The decline in the value of cattle is as great as in
that of cereal produce. We have already, in a former paper, had
occasion to state the extent of that fall down to the commencement
of the present year: the accounts received of the state of the
Dumbarton market, held in the beginning of June, are still more
disastrous than before. Throughout a large portion of the Scottish
Highlands--we do not know, indeed, whether we are entitled to make
any exception--black cattle, the staple of the country, will not
pay the expense of rearing. The enormous importation of provisions
from America is annihilating this branch of produce, with what
compensating benefit to the nation at large, it would be difficult
for an economist to explain.
Public-domain text, read in full here on John Shaqi.
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