82 THEORY OF THE PRICE OF CORN. 



turbed. This disturbance, which has proved a weighty and conti- 

 nued injury to the farmer, M. Taylor attributes (justly or not, I 

 pretend not to decide) to Peel's Currency Bill ; for the repeal or 

 modification of which, he is an ardent and powerful advocate. 



On taking a retrospect of the progress of the debt, it may be no- 

 ticed, that it receded or diminished at four distinct periods during 

 the epoch of 130 years. These recessions in each of the two latter 

 instances amounted to upwards of ten millions, and appear to have 

 been effected at the rate of about one million per annum. It may 

 be naturally asked, was this slow and small recession followed by a 

 correspondent diminution in the price of wheat ? An affirmative 

 answer to this would evince the extreme subtlety of the connexion, 

 and of course strengthen the assumed theory. A negative answer 

 would by no means invalidate it, the difference being only ten-pence 

 a quarter or about one fifty-fourth part of the then current price, a 

 change which might be counteracted by temporary causes. It is 

 also possible that by the time the effect could be produced, a reflux 

 might have taken place. 



I confess that I feel myself somewhat bewildered if not enthralled 

 by this specious theory ; at the same time I cannot overcome some 

 sceptical doubts of its truth. Gainsay the statements, and the theory 

 perishes. If they be proved to be correct, it will not absolutely en- 

 sure its stability. There is, in that case, a bare possibility, that the 

 concurrence, long, intimate, and regular as it appears, may not be 

 invariably linked. In this maze of perplexity, I cannot come to a 

 satisfactory decision. I wish I could. 



I must here close these desultory remarks. My primary object is 

 to give Mr. Taylor's project a wider expanse of publicity; I hope for 

 his benefit, by exciting a curiosity to peruse the whole work, which, 

 independent of the foregoing ingenious and original speculation, 

 abounds with others equally admirable and interesting. 



I trust amon ff the numerous and intelligent readers of The Ana- 

 lyst some will be found who will subject the theory to the severest 

 inquisition, and give us the result ; that the question may be set at 

 rest. If my communication produce this effect alone it will do 

 good, and my time will not be wasted. If the various queries and 

 suggestions I have thrown out on this dry but important topic 

 should elicit further communications, still more benefit will result 

 to the public ; my purpose will be gained, my ambition gratified. 



G. B. 



