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the conclusion, that the outgoings of the fanner 

 are generally larger than he can afford to pay 

 during the present price of agricultural produce, 

 without a sacrifice of the profit of his capital 

 which he is entitled to realize." 



The average price of wheat, from the 5th of 

 April, 1832, to the 5th of April, 1833, was 53*. Id. ; 

 and when Mr. Sanders^ of Liverpool, a person 

 possessing very extensive practical knowledge on 

 the subject of the corn trade of the country, is 

 asked to what rate he thinks a succession of good 

 crops might reduce the price of corn under the 

 present Corn Law, he replies, " I think a sue* 

 cession of good crops, under the present Corn 

 Law, would, in the course of one or two years, give 

 an average of 44s. to 465. a quarter.'' " You think, 

 that wheat would not fetch 50s. but in a scarce 

 season ?" " If there are fair crops, wheat will be 

 48,9. to 50*. a quarter." And in answer to the 

 question 4678, whether 63,9. a quarter would not 

 be a scarcity price, he says, " yes." These, Mr. 

 Sanders thinks, will be the future prices of wheat 

 exclusively, the produce of our own territories at 

 home ; not prices reduced by foreign competition. 

 His reasons for thinking that the price of wheat 

 will continue at this low level are, that prices have 

 now adjusted themselves to the altered value of 

 money, and that Ireland's capability of production, 

 and of yielding far more abundantly, at a much 

 less expense of cultivation than the soil of Eng- 

 land, " will lower the markets of this country." 



B 2 



