Of the commercial and manufacturing part of the society, only those who are directly engaged in foreign trade, will feel the benefit of the importing system. It is of course to be expected, that the foreign trade of the nation will increase considerably. If it do not, indeed, we shall have experienced a very severe loss, without anything like a compensation for it. And if this increase merely equals the loss of produce sustained by agriculture, the quantity of other produce remaining the same, it is quite clear that the country cannot possibly gain by the exchange, at whatever price it may buy or sell. Wealth does not consist in the dearness or cheapness of the usual measure of value, but in the quantity of produce; and to increase effectively this quantity of produce, after the severe check sustained by agriculture, it is necessary that commerce should make a very powerful start. In the actual state of Europe and the prevailing jealousy of our manufactures, such a start seems quite doubtful; and it is by no means impossible that we shall be obliged to pay for our foreign corn, by importing less of other commodities, as well as by exporting more of our manufactures. It may be said, perhaps, that a fall in the price of our corn and labour, affords the only chance to our manufacturers of retaining possession of the foreign markets; and that though the produce of the country may not be increased by the fall in the price of corn, such a fall is necessary to prevent a positive diminution of it. There is some weight undoubtedly in this argument. But if we look at the probable effects of returning peace to Europe, it is impossible to suppose that, even with a considerable diminution in the price of labour, we should not lose some markets on the continent, for those manufactures in which we have no peculiar advantage; while we have every reason to believe that in others, where our colonies, our navigation, our long credits, our coals, and our mines come in question, as well as our skill and capital, we shall retain our trade in spite of high wages. Under these circumstances, it seems peculiarly advisable to maintain unimpaired, if possible, the home market, and not to lose the demand occasioned by so much of the rents of land, and of the profits and capital of farmers, as must necessarily be destroyed by the check to our home produce. But in whatever way the country may be affected by the change, we must suppose that those who are immediately engaged in foreign trade will benefit by it. As those, however, form but a very small portion of the class of persons living on the profits of stock, in point of number, and not probably above a seventh or eighth in point of property, their interests cannot be allowed to weigh against the interests of so very large a majority.