II* 



CORN-LAWS AND CORN-TRADE. 



COI: NI> CORN-TR.' 



_ was continued, bot accompanied by various modifications as 

 Mania Ui limiting prices and the rate* of duty chargwW. 

 jcicc* at which export was permitted were frum time to time enlarged, 

 until, in 1070, wheat might be >lti|>|Hil away at any time when the 

 price did not exceed 6V 4tl. per quarter. At Uir name time import 

 dutie* were imposed, so heavy a to amount to a prohibition, the object 



- ' 



M*. 4<L per quarter for the advantage of the land-owner*. Not satisfied, 

 however, with thi* degree of favour. thi powerful class succeeded in 

 16W in procuring an Act d Will. A Mary, c. 12) whereby they secured 

 the payment of a bounty amounting to fit. per quarter on the exporta- 

 tion of wheat when the price did not exceed 48*. per quarter; and 

 bountiw according to the same ale were granted fur the export of 

 barter and other grain. 



Not content with interposing obstacles to a free trade in corn with 

 other countries, our ancestors thought fit to place restrictions upon 

 that trade within the kingdom. It was imagined, that if the consumers 

 could be brought to deal immediately with the growers, the profit of 

 intermediate dealers would be saved. Under this impression, both 

 parties looked unfavourably upon those dealers; the sellers imagining 

 that they could obtain better prices, ami th. buyers that they could 

 purchase cheaper but for the middlemen, while the common 

 were easily led to believe that the dearths which then frequently 

 occurred were attributable to the practices of the dealers in buying up 

 corn and withdrawing it from the market. An Act was passed, 

 deckling it to be an offence to buy corn in one market with intent to 

 sell it again in another; and persons guilty of this offence, to which 

 the name of engrouiny was given, were punished with imprisonment 

 and the pilloiy. By a statute of Elizabeth, no person was permitted to 

 convey corn from one part of the kingdom to another, unless he had 

 a licence for the purpose, the right of granting or withholding whieh 

 was confided to the magistrates in quarter sessions. These restrictions 

 were modified in 1624, and by the act 15 Charles II. c. 7, the engross- 

 ing of corn was made legal whenever the price of wheat did not exceed 

 48*. per quarter. So recently as the year 1800, when the price of 

 wheat exceeded 100. per quarter, engrossing however has been held to 

 be an offence at common law, and a corn-dealer was convicted of it, but 

 was not brought up for judgment. 



The Act of 1689 was modified in 1773, by reducing to 44*. per 

 quarter the price at which the payment of bounty was to cease, and in 

 1815 the granting of bounty was discontinued by law. In fact no 

 bounty could have been claimed at any time after 1792, in which par- 

 ticular year the average price for the whole year was below the price 

 fixed in 1778. At that time (1773) importation was permitted upon 

 payment of the nominal duty of 6rf. per quarter whenever the price 

 hhoxild be above 48. This permission was considered injurious to 

 their interests by the land-owners, who, on the plea that th.- 

 might become dependent upon foreign countries for ita supply of food, 

 succeeded in 1781 in obtaining an Act whereby the price at which 

 importation was allowed at 6</. per quarter was raised to 54*., a duty 

 of 2*. 6d, was imposed when the price was between 50. and 54s., and 

 24*. Srf. per quarter was charged when the price was below 50*. A 

 new law, passed in 1804, shifted the price at which the prohibitory 

 duty of 24*. Sd. was charged to 68*. ; between that price and 

 duty was 2*. Crf. ; and above 66*., only (></. per quarter. Under the 

 Act of 1791, the maritime counties of England were divided into twelve 

 districts, and importation and exportation were regulated in each dis- 

 trict by their respective prices ; but in 1804 this plan was altered, and 

 the aggregate average of the twelve districts was taken as the measure 

 for regulating importation and exportation to and from the kingdom. 



A bill for raising the duties on importation, which was brought into 

 the House of Commons in 1814, met with so much opposition that it 

 was abandoned ; but in the following year an Act was passed, after 

 great opposition, and exciting great clamour on the part of the 

 allowing the free importation of corn from foreign countries, in order 

 to be warehoused or re-exported, but forbidding tho importation for 

 consumption, unless the average prices were, for wheat, 80*. ; for rye, 

 peas, and beans, 53*. ; for barley, 40*. ; and for oata, 26*. 

 description of corn might be brought for consumption from the British 

 colonies, when the prices were, for wheat, 67*. ; rye, peas, an i 

 44*. ; barley, 33*. ; and oate, 22*. The deficient harvest* of 1 

 1817 raised the prices above these limits, and so much grain -,; 

 imported free of duty that a considerable surplus was left for future 

 and more abundant years. One of these years of abundance occurred 

 in 1822, and during tho next twelve months the prices of grain fell 

 below what they had been hi any year since 1792. It was expected, on 

 the part of the land-owners, that the effect of the Act of 181. 

 have been to keep the price of wheat steady at or about 80*. per 

 quarter ; but this expectation was so far from being realised that . if wi 

 except the rears of scarcity 1816 and 1817, the average price of tin. 

 period which elapsed before the system of prohibition was excln 

 that of a graduated duty in 1829, was only 58*. 5rf. per quarter. In tin 

 mean time, by an Act passed in 1823, the law of 1815 was m< >' 

 as to allow of importation whenever the prices were, for wheat, 70*. ; 

 for rye, peas, and beans, 46*. ; for barley, 35*. ; and for oata, 25*. per 

 quarter ; but a duty of 1 7*. o quarter for wheat (and other rates in pro 

 jHjrtion lor other grain) wan ' 

 of importation, and 12*., Ac., thereafter. The prices of corn were never 



WUEiT. 



When the price ahall be per qr. 

 62*. and under 63*. per qr. 

 63 64 



such during ita continuance a* to bring this Act into operation. In 

 1825 the importation of wheat fr. i-h colon:. 



America was legalised upon payment of a duty of 5*. per quarter, v. t li- 

 mit reference to the price in the English market. In 1S^6, 

 continued drought caused great apprehensions concerning the coming 

 larvests ; and in order to prevent the opening of the ports to fresh 



t ions, and the consequent probable admission of a quair 

 corn beyond the actual wont* of the country, by which price* > 

 have been affected perhaps for yean after, permission waa given 

 government to admit by proclamation 600,000 quarters of foreign 

 wheat then warehoused in the kingdom. 



The inconvenience of the system of alternate prohibition and tin- 

 nnportation WOK at length fully recognised by all parties, and 

 .14 passed (9 Qeo. IV. c. 60) to regulate the trade in 

 corn. The principle of this Act was, the constant freedom of importa- 

 tion upon the payment of duties fluctuating, according to the average 

 price of groin, decreasing as the price advances, and increasing as the 

 price falls. This was the celebrated " aliding-acale " introduced and 

 aimed by Sir Robert Peel. The following table exhibit* the scale of 

 duties graduated according to the average price* of the different kind* 



When the price shall be SS. and 

 under 34*. per quarter, 12*. 4rf. per 

 quarter duty ; and In respect of 

 integral shilling by which such price 

 shall be above 33*., such duty shall be 

 decreased by 1. 6rf., until such price 

 shall bo 41*., and whenever the price 

 hall bo at or above 4U., the duty 

 shall be 1*. per quarter. Whenever 

 the price shall be under 33. and nut 

 under 32*., 13*. lOrf. ; and in respect 

 of each integral shilling, or any part 

 of each integral shilling, by 

 such price shall he under S2i., the 

 duty ahall be increased by 1*. 6 if. per 

 quarter. 



BVK, PEAS, AXO BEAX8. 



When the price shall be 36*. and 

 under 37*. per quarter, 13*. Cif. per 

 r, and in respect of every in- 

 tegral shilling, by which the prlco 

 *h:ill be above 36*., the duty shall be 

 decreased by 1*. Grf. until ctich price 

 shall be 46*. When the price' chall be 

 nt or above 46*., I*. When the juice 

 shall be under 36*. and not 

 33*. per quarter, 16*. Drf. ; and in 

 lespect of each integral chilling, or 

 any part of each integral shilling, by 

 which Mich price shall be under 3.">., 

 the duty shall be increased by Is. 6rf. 

 per quarter. 



14 



63 

 66 

 67 

 68 

 69 

 

 71 

 72 

 above 7 3*. 



63 

 CO 

 07 

 08 

 69 

 TO 



71 

 ri 



73 



23 

 22 

 21 

 20 

 18 

 16 

 13 

 10 

 6 

 2 

 1 





 



under G2. and not under 61*. 23 8 

 and In respect of each integral shilling, 

 or any part of such integral shilling, 

 by which such price shall be under Cl*., 

 such duty shall be increased by 1*. 



OATS. 



When the price shall be 25<. and 

 under 26*. per qr., 9*. 3d. duty ; and 

 in respect of every integral shilling 

 by which such price shall he above 

 235., such duty shall be decreased by 

 If. lid. until such price shall be 31*. 

 Whenever the price shall be above 

 31., the duty shall be 1*. Whenever 

 such price shall be under 23*. and not 

 under 24s., 10*. 9rf. ; and in respect 

 of each integral shilling, or any part of 

 each integral shilling, by which such 

 price shall be under 24i. the duty shall 

 be increased by 1*. Crf. 



On the 7th of May, 1841, an abortive attempt was made by the 

 ministry of the day to establish a fixed duty df 8*. the quarter on the 

 importation of foreign wheat. The dissolution of parliament, which 

 took place very shortly after this proposition, was unfavourable to the 

 ministry. However, on the 9th of February. IS |-J, their HU. 

 brought forward a measure for a modification of the corn law . 

 which was successfully carried, and conic into operation on tin ', 

 April following. 



Under the Act 9 Gco. IV. c. 60, which lasted from the 15th of July, 

 1828, to the 29th of April, 1842, the total quantity of foreign wheat 

 admitted was 13,562,856 quarters and 4,305,150 cwte. of forvigu 

 :.ur, and, in .-iddition, at a lower rate of dut\ . 

 :1 cwte. of colonial il 

 half of the foreign wheat and flour was admitted at : 



ail comparatively little at the higher rates, as the fol' 

 nt will show : 



Duty at 

 1*. 



2*. M. 

 6*. 8rf. 

 10*. fed. 



Urs. Wheat. 



5,788,043 



2,880,613 



, 1,997,226 



820,342 



Cwts. Wheat-flour. 



1,758,372 



862,262 



319,123 



243,120 



Th.' average rate of duty was under 6. the quarter. For the whole 

 period during which this Act was in ojx-r.it ion the average j 



fluctuation in the weekly avcnuji-H were from :!<!.-. M. to 81*. 



f cent. The high 



vest S9. 4rf., in 1835. In 1838 th. duty 

 different changes. The scale of duties wa< -.> 

 great inducements t<> the holder.. i f..re^n win .it t.. withheld si 

 until t!i -d 'he- lowest i.o'nt: :md a rice in pi : 



shilling 



