Observations on the Effects of the Corn Laws, and of a Rise or Fall in the Price of Corn on the Agriculture and General Wealth of the CountryMalthus, T. R. (Thomas Robert)
History
Observations on the Effects of the Corn Laws, and of a Rise or Fall in the Price of Corn on the Agriculture and General Wealth of the Country
Malthus, T. R. (Thomas Robert)
Corn laws (Great Britain); Grain trade -- Great Britain
According to Oddy's European commerce, the Poles can afford to bring
their corn to Danzig at thirty two shillings a quarter. The Baltic
merchants are said to be of opinion that the price is not very
different at present; and there can be little doubt, that if the
corn growers in the neighbourhood of the Baltic could look forward
to a permanently open market in the British ports, they would raise
corn expressly for the purpose. The same observation is applicable
to America; and under such circumstances it would answer to both
countries, for many years to come, to afford us supplies of corn, in
much larger quantities than we have ever yet received from them.
During the five years from 1804 to 1808, both inclusive, the bullion
price of corn was about seventy five shillings per quarter; yet, at
this price, it answered to us better to import some portion of our
supplies than to bring our land into such a state of cultivation as
to grow our own consumption. We have already shown how slowly and
partially the price of corn affects the price of labour and some of
the other expenses of cultivation. Is it credible then that if by
the freedom of importation the prices of corn were equalized, and
reduced to about forty five or fifty shillings a quarter, it could
answer to us to go on improving our agriculture with our increasing
population, or even to maintain our produce in its actual state?
It is a great mistake to suppose that the effects of a fall in the
price of corn on cultivation may be fully compensated by a
diminution of rents. Rich land which yields a large net rent, may
indeed be kept up in its actual state, notwithstanding a fall in the
price of its produce: as a diminution of rent may be made entirely
to compensate this fall and all the additional expenses that belong
to a rich and highly taxed country. But in poor land, the fund of
rent will often be found quite insufficient for this purpose. There
is a good deal of land in this country of such a quality that the
expenses of its cultivation, together with the outgoings of poor
rates, tithes and taxes, will not allow the farmer to pay more than
a fifth or sixth of the value of the whole produce in the shape of
rent. If we were to suppose the prices of grain to fall from seventy
five shillings to fifty shillings the quarter, the whole of such a
rent would be absorbed, even if the price of the whole produce of
the farm did not fall in proportion to the price of grain, and
making some allowance for a fall in the price of labour. The regular
cultivation of such land for grain would of course be given up, and
any sort of pasture, however scanty, would be more beneficial both
to the landlord and farmer.
Public-domain text, read in full here on John Shaqi.
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