REGULATION OF THE CORN TRADE 143 



\ 

 self-supporting in its food supplies, important changes were made 



in the laws which regulated the trade in corn.^ In the reign of 

 Philip and Mary, home-grown corn could not be exported if home- 

 prices for M'heat rose above 6s. 8d. per quarter, and for cheaper 

 grains in proportion. This Hmit was raised by subsequent legisla- 

 tion. Thus the home price for wheat, at which exportation was 

 prohibited, was raised in 1593 to 20s., in 1604 to 26s. 8d., in 1623 

 to 32s., in 1660 to 40s.,2 in 1663 to 48s.3 In 1660 duties were also 

 imposed on the importation of foreign wheat. These duties were 

 at first nominal. Thus they started at 2s. per quarter on imported 

 wheat, when home-prices exceeded 44s. In 1663 they were raised 

 to 5s. 4d. per quarter, when home-grown wheat rose above 48s. 

 In 1670 ^ the corn laws became more frankly protective. No Hmit 

 of price was fixed above which the exportation of home-grown corn 

 was prohibited, and a heavy duty of 16s. a quarter was imposed 

 on foreign wheat when home prices did not exceed 53s. 4d. per 

 quarter. Similar duties were imposed on the importation of other 

 foreign grain at proportionate prices. A further change was made 

 in 1688.^ The Act of that year offered a bounty on the export 

 of home-gro^vn corn of 5s. per quarter of wheat, whenever the 

 home-price fell below 48s. per quarter, and on other grain in pro- 

 portion. On these two principles, namely a duty on the importation 

 of foreign corn and a bounty on the exportation of home-grown 

 corn, combined with frequent prohibitions of exports, the corn 

 trade was regulated throughout the eighteenth century. Similar 

 measures were adopted to encourage the raising of cattle, and 

 importations from Ireland were prohibited. Legislation did not, 

 however, raise prices ; it only succeeded in maintaining them. 

 Increased production at home counteracted the effect which the 

 restriction of imports might otherwise have produced. England, 

 says Sir WilHam Petty,^ " doeth so abound in Victuals as 

 that it maketh Laws against the Importation of Cattle, Flesh 

 and Fish from abroad ; and that the draining of Fens, im- 

 proving of Forests, inclosing of Commons, Solving of St. Foyne 

 and Clover-grass be grumbled against by Landlords, as the 

 Way to depress the price of Victuals." Elsewhere he adds : 



1 See Appendix III. The Corn Laws. ^ 12 Car. II. c. 4. 



' 15 Car. II. c. 7. * 22 Car. II. c. 13. 



5 1 William and Mary, c. 12. 

 ^Several Essays in Political Arithmetic, ed. 1755, pp. 150-169. 



