[639]. Pol. Econ., III. xiv. “Of excess of supply.” Cf. I. v. § 3, p. 42.
[640]. A cargo of skates was sent to Rio Janeiro in 1808.
[641]. The intention of the new Corn Law of 1815 was to keep out all foreign grain till the home price should reach 80s. a quarter, or the loaf 1s. See above, p. 221.
[642]. The article on the Bullion question, in August of the same year, might be his, if it was not Francis Horner’s. Cf. Horner’s Life, vol. i. ch. vi., dates April and Sept. 1805, from which it appears that Horner was working hard at the question and meant to write on it, as he might have done better in 1811, fresh from his experience on the Bullion Committee. As to the February article, the authorship is shown partly by internal evidence, partly by Horner’s Life, vol. ii. p. 68 (Jan. 1811): “I received Malthus’ MS. from you [Jeffrey] and have since transmitted it to him with such remarks as occurred to me in perusing it,” &c. MacCulloch did not begin to write the economical articles for the Edin. Rev. till 1818. See Notes and Queries, 5th Oct., 1878.
[643]. For the history of the currency in the interval see Miss Martineau’s Introd. to Hist. of Peace, Bk. II. ch. iii.; Hist. of the Peace, Bk. I. ch. iii. and ch. xv.; Cobbett’s Paper v. Gold; Macleod’s Banking, vol. ii., end of ch. ix. pp. 174–221, much the completest account.
[644]. Peel changed his views then on Currency, as he did later on Catholic Emancipation and the Corn Laws.
[645]. p. 370. He speaks approvingly of the American free trade in banking in a way that would have pleased Cobden.
[646]. p. 371.
[647]. E. g. Horner complains of this even in so clear a paper as that on Newenham. See Horner’s Life, vol. i. pp. 436–7 (sub dato 1808).
[648]. Works (ed. MacC.), pp. 291–296.