5. Since sending the above to the press I have heard of the new resolutions that are to be proposed. The machinery seems to be a little complicated, but if it will work easily and well, they are greatly preferable to those which were suggested last year. To the free exportation asked, no rational objection can of course be made, though its efficiency in the present state of things may be doubted. With regard to the duties, if any be imposed, there must always be a queston of degree. The principal objection which I see to the present scale, is that with an average price of corn in the actual state of the currency, there will be a pretty strong competition of foreign grain; whereas with an average price on the restoration of the currency, foreign competition will be absolutely and entirely excluded. [Transcriber's note: The sentence It is alleged, first, that security is of still more importance than wealth, and that a great country likely to excite the jealousy of others, if it become dependent for the support of any considerable portion of people upon foreign corn, exposes itself to the risk of having its most essential supplies suddenly fail at the time of its greatest need. originally read: It is alleged, first, that security is of still more importance than wealth, and that a great country likely to excite the jealousy of others, if its it become dependent for the support of any considerable portion of people upon foreign corn, exposes itself to the risk of having its most essential supplies suddenly fail at the time of its greatest need. This was probably a printer's error.]