47 



" I for one rejoice at it," even though it be much 

 below 72,9. a quarter, the price at which Mr. Hus- 

 kisson considered it cheap ; for there is a very 

 wide difference in the effects upon the agricultural 

 classes between cheapness occasioned by the pro- 

 ductiveness of our own territories, and cheapness 

 occasioned by the supplies of foreign countries in- 

 dependent of us. The difference is, the one 

 arises from the employment of British capital and 

 British industry, the other does not. I have 

 already shown the reduction which must be made 

 in rents, and other outgoings to meet the probable 

 average price of 54s. a quarter. But, if wheat 

 should fall to 40s. a quarter in consequence of the 

 supplies of corn not produced by means of the in- 

 dustry and capital of our own countrymen, then, is 

 it likely that taxes, poor rates, county rates, church 

 rates, highway rates, and the expenses of pro- 

 duction could fall sufficiently low to meet this re- 

 duced price of corn ? Surely it is most unlikely, 

 it is almost demonstratively certain, with wheat at 

 40s. a quarter, from such circumstances, that poor 

 rates, church rates, highway rates, county rates, 

 (all of which expenses fall too exclusively on the 

 land) taxes, interest on capital, and the expenses 

 of production, will consume the larger portion of 

 that fund from which rent should be paid to the 

 landlord. To preserve the landed interest, and to 

 secure to the landlord a certain, though a less 

 rent, and to the tenant a certain compensation, no 



