1 66 THE LANDED INTEREST. 



but European agriculture is thus exposed in- 

 cludes nearly all the principal articles of con- 

 sumption. The enlarged demand of Western 

 Europe, during a period of unproductive seasons, 

 has been met by a correspondingly increased 

 development in America of her western agricul- 

 ture, favoured by a succession of good seasons. 

 This equalising of supply has been of immense 

 benefit to the consuming classes in Europe, who 

 in recent times of depression of trade must other- 

 wise have been sorely pressed. American states- 

 men recognise in it what they term a revolution in 

 America the economic conditions of European agricultural 



expects to 



be able to industry. They see that, though their home 



control the 



European consumption is increasing, it is not so to any- 



corn trade. 



thing like the extent necessary to absorb their 

 enormous increase of crops. America, they say, 

 is rapidly gaining control of this trade, and can 

 maintain it even at the unprecedentedly low 

 prices there of 33. 3d. a bushel, or 2 2s. an 

 acre, for " this cheapness is the result of their 

 abundance, which thus enables them to transport 

 grain across the ocean, and undersell the farmers 

 of the high-priced lands of Europe." 



