This is a state of matters which cannot continue long without manifest danger even to the tranquillity of the country. It is quite plain that, at present rates, agriculture cannot be carried on as heretofore in Great Britain. The farmer has been the first sufferer; the turn of the landowner is approaching. Let us illustrate this shortly. There must be, on an average of ordinary years, a certain price at which wheat can be grown remuneratively in this country. Sir Robert Peel, no mean authority on the subject, has indicated his opinion that such price may be stated at or about 56s. per quarter. Mr James Wilson, rating it somewhat lower, fixes it at 52s. 2d. Let us suppose, that wheat for the future shall average over England 39s. per quarter, and that the produce of the acre is twenty-four bushels, the loss on each acre of wheat hereafter raised will be, according to Sir Robert Peel, £2, 11s.--according to Mr Wilson, £1, 19s. 6d. What deduction of rent can meet such a depreciation as this? Excluding Middlesex, which is clearly exceptional, the highest rented county of England, Leicester, is estimated at £1, 14s. 10d. per acre; Warwickshire, at £1, 11s. 6d.; and Lincolnshire at £1, 8s. Haddington and Fife, the highest rented counties of Scotland, are estimated at £1, 5s. 6d. per acre. This of course includes much land of an inferior description; but we believe that, for the best arable land, an average rent of 40s. per acre may be assumed. In that case, supposing the whole rent to be given up, the farmer would still be a loser by cultivation, if Sir Robert Peel is correct in his figures. Without presuming to offer an opinion as to the accuracy of either of the calculations submitted by these two Free-trading authorities, we think it is plain that the more favourable of them, taken in connection with present prices, is appalling enough to the agriculturist, whether he be landlord or tenant. We shall see, probably in a month or two, whether it is likely that even these prices can be maintained. We are clearly of opinion that the price of corn in this country must fall to the level of the cheapest market from which we can derive any considerable supplies; and in that case it is quite as likely that we may see wheat quoted at 32s. or 33s., as at 39s. or 40s. But the matter for our consideration is, that, ever since the repeal of the corn laws, the market price of grain has been greatly below the cost of its production; and that there are no symptoms of any amendment, but obviously the reverse.