42 



grain usually consumed there into the common 

 market, from a scarcity of provisions? Secondly, 

 If not, what will be the consequence of doing 

 so prematurely, and before the necessity comes ? 

 and, Thirdly, Even in the case of actual pres- 

 sure from scarcity, should such a compulsive 

 measure ever be resorted to ? 



First, As to the existing state of our home 

 supplies, that there is at present any deficiency 

 of these, the current rate of prices abundantly 

 disproves. The wheat crop reaped last autumn 

 in this country, it is generally allowed, was ra- 

 ther an abundant crop ; and indeed this fact, 

 as I take it, is proved in the best of all ways, 

 by the rate of prices just alluded to. We are 

 now nine months from the last harvest, and 

 within three of the next, and the market price 

 of wheat, which is our regulating standard, is 

 as low, or rather lower, than it has been on an 

 average of these several years past ; a mere 

 trifle above what it was immediately after the 

 the last harvest ; and very nearly stationary 

 since the month of November. The price in 

 the London market, on the 16th of the present 

 month of May, was from 50 to 78 shillings the 

 quarter. The price for the preceding month of 

 April, was from 04 to 74 shillings ; that for Oc- 

 tober last, from 54 to 68 ; that of May last, 

 from 64 to 80 ; that of May 1806, from 70 to 



