482 



REPORT — 1879. 



imports, and how more and more this country is becoming dependent for its 

 supplies on other countries : — 



[The table is constructed on the basis of Mr. Caird's table, showing the production 

 of wheat per acre for each year since 1849 ; on the trade returns from which column 

 4 is arrived at ; and from the agricultural returns, which give the acreage under 

 wheat cultivation for the last few years ; the acreage for the first three periods is 

 estimated, after taking into account the importations, the requirements for con- 

 sumption, and the known produce per acre.] 



The price of wheat has averaged during the last six years 6s. per quarter less 

 than the previous six years. The consumer, therefore, has been saved that much on 

 each year on the total average consumption of 23,000,000 quarters, or a sum of 

 6,900,000/. a year, a saving nearly sufficient to pay for the excess importations, as 

 compared with the previous six years. But this is not the whole of the case ; if 

 the price of wheat had risen during the last six years in inverse proportion to 

 the deficiency of product, as it has already been pointed out was generally the case 

 in the previous 20 years, it is easy to show that the average price during the six 

 years would have been 62s. 6d. per quarter, in lieu of 49s. Qd., a difference of 13s. 

 per quarter. This increase would have been paid by the consumer upon the average 

 consumption during the six years of 23,139,000 quarters, making an increased charge 

 to the community of about 15,000,000/. in each year; and of this 6,550,000/. would 

 have gone to the home producer in each year, and 8,450,000/. to the foreign producer. 

 For the six years, therefore, the home producer would have gained 39,000,000/., and 

 nearly 51,000,000/. would have been paid away to the foreign producer, in excess of 

 what was actually paid. 



It is clear, therefore, that the country, as a whole, has very greatly benefited 

 by the low price of wheat ; and it is not too much to say that had this additional 

 sum been paid away for wheat during the last few years of depression, in addition 

 to proportional increased payments for other food supplies, the commercial depres- 

 sion would have been greatly aggravated. 



The low price of food has unquestionably been the chief cause that the work- 

 ing classes have passed through the period of commercial depression with so little 

 general suffering. It has also been the cause that one of the three great classes 

 which make up the agricultural community, namely, the labourers, have been better 

 off during the last six years than they have been during any period in the last 

 century. Not only did they succeed, in 1872, in asserting a rise in wages, but 

 their money wages have, owing to the low price of wheat, gone much further. A 

 rise of 13s. per quarter of wheat would have almost neutralised the rise of money 

 wages. 



A consideration of these facts will, I think, show how immensely the country 

 gains by the low price of wheat, and that such gain is altogether out of proportion 

 to any loss which may be incurred by the producers in this country, of that propor- 

 tion of the consumption which they are able to produce. It will also show how 



