Speculations from Political EconomyClarke, Charles Baron
General
Speculations from Political Economy
Clarke, Charles Baron
Economics
same time cause a higher farming of that within the non-existing margin;
in both ways it would raise the demand for agricultural labour, and
would raise wages.
On the whole, I incline to think that a sliding-scale duty on wheat
up to 48s. a quarter would not perceptibly alter the position of the
agricultural labourer, or might possibly improve it: it would lower the
wages and diminish the profits of capital in other trades. This is not
(as before explained) a fair way of arguing the question; because it
is impossible to calculate the indirect effects of Free Trade in wheat,
which ultimately came round to benefit the agricultural labourer.
But considering how the efficiency of the agricultural labourer has been
improved by improved machines since 1846, it is hardly possible to doubt
that the agricultural labourer is much more indebted to the engineers
than to the Corn Law League for his improved position. Under "machines"
too may be included railway communications: also let us not forget
how much the agricultural labourer owes, not only to drills and
mowing-machines, but to boot-sewing machines, improved tea-ships, etc.
If we look to the general increase of wealth in England since 1846, the
first thing that strikes us is the increase in the tribute, which is
about thrice what it was. This increase is largely imperial, i.e. due to
colonisation, annexation, etc. But here again we must not overlook
the reaction of causes on each other: our Free Trade in corn, our
improvements in machinery and ships, have so largely contributed to
spread our empire that it becomes impossible to disentangle the separate
work, or indeed to speak of any one cause as a simple element: the
causes all act together.
Public-domain text, read in full here on John Shaqi.
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