2G1 



THE FARMER'S MAGAZINE. 



THE PRESENT PRICE OF CORN. 



The prices of ajjricultural produce vary more than 

 those of any other description of natural productions. 

 Price and Value being two distinct results — the first 

 liaving relation to tlie amount produced at market — 

 the second to the cost of production. 



The rapid decline in the prices of grain, meat, and 

 farm produce of this country at the present moment 

 are not dependent either upon our home production or 

 consumption, or upon both conjointly ; but rather upon 

 large importations, and the checking the ordinary trans- 

 actions of merchants, manufacturers, and traders atone 

 and the same instant, by the derangement of our 

 monetary system ; and thus the effects operatinii 

 upon the corn and meat markets of the metropolis 

 are transmitted to every other local market of the 

 kingdom. 



This centralization of the corn markets of Europe, 

 as exhibited in Mark-lane, is transmitted instantly to 

 all the other parts, and consequently value as defined 

 by the cost of production, has no relation whatever to 

 it in the result. So long as a large supply of foreign 

 wheat and grain continues to reach our ports, prices 

 will continue to fall, until the average minimum price 

 of the whole of the impoi-ts is attained, and vice versa, 

 if a diminished supply falls so low as to produce a 

 scarcity— then and not till then will prices again ad- 

 vance — probably to an extent far beyond the value. 



These sudden fluctuations affect the farmer more 

 than any other class of producers, his operations ex- 

 tending over a larger space of time than appertains to 

 others will not allow him to expand or contract his 

 operations accordingly ; and it mostly happens that 

 whenever the price of his productions fail to their 

 lowest point, the cost of producing has been carried out 

 at its highest rate— especially as regards rent. To the 

 rent-charge and labour at least a moiety of the whole 

 cost remains unaltered for a long time after prices have 

 so declined — and more especially the tithe rent-charge, 

 which from being based upon an avei-age of the seven 

 years last expired, rises to the maximum point as at 

 present, and so for a time continues whilst grain is at 

 its minimum price. 



Tithe rent-charge, by the present arrangement, 

 entered upon for obtaining its averages, acts very in- 

 juriously to agriculture; and as it in reality produces 

 no beneficial result to the receiver, there cannot be 

 any reason adduced why an alteration should not be 

 made in the mode of deducing the averages — and the 

 merely reducing them from seven to three years would 

 at once effect an object, so desirable and to be attended 

 with equitable and beneficial results to both payer and 

 receiver. 



When we review the principal causes of fluctuation 

 in the marketable value of farm-produce, it becomes 

 apparent that not only tithe rent-charge, but rent also 

 ought to be subject to a like adjustment. But bene- 

 ficial as such a change might be, little doubt exists 

 that it would not only be objected to, but be absolutely 

 refused by the majority of occupiers, so adverse are they 

 to any change, however beneficial it might be to their 

 future interests. Indeed, when we refer to fluctuations 

 that have occurred in the last ten years, it is matter of 

 astonishment that such prejudices should exist; the 

 reason, probably, arises from the human mind in- 

 variably viewing past events as not likely again to 

 occur. Hope leads everyone to expect a change for 

 the better, and therefore the chances of an advance on 

 prices, without having to make a corresponding ad- 

 vance on rent, far outweigh the probability of a decline 

 in prices attended by a corresponding reduction in the 

 quantum of rent. 



In the .year 1846 we find that prices ran from a low 

 range suddenly to a high one, the extremes being fully 

 100 per cent.; in thefollowing year they againfeli in like 

 ratio, continuing with slight fluctuations until the war 

 commenced with Russia, in 1854, and then gradually 

 rising imtil the year 1857. Thus they remained until 

 the autumn following, when they again fell to fully 50 

 per cent. 



Tiie fluctuations during the present century have 

 amounted to 400 per cent, and upwards. Wheat has 

 reached £10 per imperial quarter, and has fallen 

 below ^£"'■2 per quarter, and other produce in nearly 

 equal proportions. " What has happened since may 

 happen again" — if not to the same extent, still suffi- 

 ciently to require us to guard against the contingency. 



In commencing this article we adverted to the 

 effects produced throughout the kingdom by the fluc- 

 tuations in prices upon Mark-lane, and the influence they 

 produce upon prices in local markets. It ought now 

 to be borne in mind by all agriculturists that the sup- 

 ply of English grain will, during a time of peace, have 

 but little influence upon prices. Mark-lane has now 

 become the emporium of Europe for all descriptions of 

 grain, and the average prices in that market will be 

 governed by the average prices of the continental mar- 

 kets, subject to the addition of cost, freight and profit. 

 But inasmuch as the supplies may far exceed the demand 

 at certain periods, the looses attendant upim importation 

 will be extended to the profiucers of this kingdom, and 

 will so continue until a reaction is produced, and sup- 

 ply and demand have changed their relative positions. 



It, therefore, behoves the British cultivator to weigh 

 these remarks as they deserve. It is now quite certain 

 that the prices of agricultural produce must depend 

 upon the quantity imported; and that the prices of 

 English grain cannot, under the most favourable cir- 

 cumstances, in future far exceed tliose of the continent of 

 Europe. Whilst, upon the othur hand, a large influx 

 of foreign wheat upon the market may cause them to 

 descend far below their intrinsic value, even to such an 

 extent as to prove most ruinous to our home pro- 

 ducers. 



TITHE COMMUTATION TABLES. 



Mr. Willich, the Actuary of the University Life 

 Office, has lately published his Annual Supplement to 

 " The Tithe Commutation Tables." The value of 

 tithe rent-charge depends on the septennial average 

 prices of wheat, barley, and oats. As it may interest 

 our readers, we insert from one of Mr. Willich's tables 

 the annual average prices per imperial quarter during 

 the last seven years, viz. : 



1853 .... 53 3 .... 33 2 .... 21 



1854 72 5 36 27 11 



1855 .... 74 8 .... 34 9 .... 27 5 



1856 69 2 .... 41 1 25 2 



1857 .... 56 4 .... 42 1 .... 26 



The Quarterly Averages for 1857 may interest our 

 agricultural friends who have let theh' land at corn 

 rents. 



Wheat. Barley. Oats. 

 s. d. s. d. 8. d. 

 Lady-day Quarter, 1857 . . 56 10 . . 45 8 . . 23 5 

 Midsummer „ „ . . 56 9 . . 42 6 . . 24 9 



Michaelmas „ „ . . 59 11 .. 40 2 .. 27 3 



Christmas „ „ . . 52 . . 40 1 . . 24 7 



