DEBATE ON THE CORN-LAWS.
In consequence of a report of the commons, it was thought expedient, at the close of this session to adopt some new legislative regulations concerning the corn-laws. From that report, it appeared that though yielding, on an average, a fair remuneration to the grower, the price of corn from 1791 to 1803 had been irregular. It was also found that the effect of high prices had begun to stimulate industry, and to bring-large tracts of waste land into cultivation. This added to the last two favourable seasons had occasioned a great depreciation in the value of grain, and it was thought agriculture would be discouraged unless immediate relief were afforded. Under this impression, although £30,000,000 had been paid to foreign countries for the supplies of corn, it was proposed to annex a bounty to exportation. A bill was introduced allowing exportation when the price of wheat was at or below forty-eight shillings a quarter, and importation when the price, in the twelve maritime counties of England, should exceed sixty-six shillings. This “bill to starve the poor” passed, and became the law of the land.