Wheat  Prices  and  the  World’s  Production, 
103 
nevertheless,  at  last  outrun  by  the  growth  of  population.  In 
years  when  the  yield  of  the  harvest  fell  off,  the  working  classes 
suffered  terribly  from  high  prices  and  the  pressure  culminated 
at  last  in  the  Anti-Corn-Law  Agitation  of  the  Hungry  Forties. 
Second  period. — The  abolition  of  the  Corn  Laws  in  1846 
constitutes  the  beginning  of  a new  epoch,  and  from  that  time 
our  consumption  of  foreign  wheat  rapidly  increased.  In 
1852-56  we  imported  a yearly  average  of  4,560,000  qr.  ; by 
1868-72  the  average  had  risen  to  8,741,000  qr.  These  supplies, 
during  the  first  twenty  years  of  this  period,  were  obtained 
almost  wholly  from  European  countries.  Russia  sent  the 
largest  amount,  and  the  effect  of  her  supply  on  prices  during 
the  time  was  remarkably  evident  when  the  Crimean  War  put 
a stop  to  our  commercial  intercourse  with  her.  Prices  rose 
rapidly,  and  the  year  1854  was  one  of  considerable  distress  to 
the  workers  of  this  country. 
Third  period. — From  about  1870  we  may  date  the  beginning 
of  a new  era,  the  main  feature  of  which  was  the  domination  of 
the  American  market  which,  owing  to  the  increasing  facilities 
of  transport  in  the  United  States,  could  now  draw  supplies 
from  a large  area.  Labour  indeed  was  exceedingly  scarce,  and 
land  was  cultivated  in  a very  superficial  way.  In  an  empty 
continent,  however,  the  value  of  land  is  small,  and  the 
American  farmers  were  able  to  produce  crops  at  an  exceedingly 
low  cost,  as,  although  the  yield  per  acre  was  small,  the  rent 
was  almost  a negligible  item.  About  the  year  1870,  owing  to 
these  conditions,  our  markets  began  to  be  flooded  with  wheat, 
and  prices  were  driven  down,  causing  severe  depression  in 
British  agriculture,  and  in  the  farming  districts  of  nearly  all 
European  countries.  From  that  time  the  quantity  of  wheat 
sent  to  us  from  the  United  States  continued  to  grow  until  the 
end  of  the  century,  the  proportion  of  our  supplies  from  that 
source  increasing  from  24  per  cent,  in  1856-60  to  40  per  cent, 
in  1871-75,  and  60  per  cent,  in  1896-1900.  The  magnitude  of 
this  growth  will  be  obvious  if  the  imports  from  the  United 
States  are  expressed  in  absolute  quantities.  In  1856-60  we 
yearly  consumed  about  1,320,000  qr.  of  American  wheat,  in 
1871-75  4,680,000  qr.,  and  in  1896-1900  about  13,360,000  qr. 
The  stress  of  competition  which  these  figures  indicate  has  had 
a great  effect  in  stimulating  new  methods  in  European 
agricultural  practice.  But  our  friend  the  enemy  had  as  many 
perhaps  more  of  the  advantages  which  science,  engineering 
skill  and  up-to-date  commercial  methods  could  give  to  the 
farmer,  and  in  spite  of  every  effort,  farmers  in  this  country 
were,  to  a great  extent,  forced  to  turn  their  attention  to  other 
crops.  Between  the  years  1871-75  and  1902,  a period  which 
included  the  terrible  season  1879  and  those  unsatisfactory 
