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In the annals of legislation, we are no stran- 

 gers to various schemes of policy which have 

 professed to lower the price of grain by forced 

 limitations of the market. The famous mini- 

 ster Colbert, wishing to encourage the manut- 

 factures of France, bethought himself of in- 

 creasing the plenty, and lowering the price of 

 grain, by prohibiting its export. In this way, 

 no doubt, there was suddenly thrown back on 

 the home market the whole quantity usually 

 exported, and the consequence must have been 

 an immediate plenty and cheapness. But all 

 the effect of this was very soon over ; for the 

 farmers finding a glut of their commodity on 

 their hands, and the prices so low as to yield 

 them no adequate return, (an expression which 

 in this case might be used with propriety), were 

 forced to retrench their cultivation, and thus re- 

 duce the produce to what it w r as formerly, exclu<* 

 sive of the export. The object desired, therefore, 

 was almost immediately defeated. But this is 

 by no means stating the full amount of the 

 evil. For the discouragement to agriculture, 

 from the closing up an indefinite vent to its 

 produce, will always diminish that produce, 

 or prevent its gradual increase, in a proportion 

 far beyond the actual amount consumed by 

 that vent at the time of the restriction. The 

 policy of M. Colbert, therefore, not merely 



