Page:The Three Prize Essays on Agriculture and the Corn Law - Morse, Greg, Hope (1842).djvu/30

 production, and so also the mechanic or manufacturer, and each and every class of the community who invents and increases the supply of articles useful or agreeable to man, in time surrenders his improvements to the public, and reserves to himself no more than the share necessary to his own individual consumption. In this, and in this way only, can increased production benefit the farmer; and if it can be shown that a steady and constantly increasing supply of corn, at a moderate and remunerating price, is the true interest of the public, there cannot be a doubt but that it is at the same time the true interest of the tenant farmer, and ultimately, the land-owner.

Though the advantage the would derive from the total and immediate repeal of the corn laws depends generally on the same principles that are necessary for the well-being of the farmer, yet there are other causes called into action which show that the labourer is more interested in a low price than the farmer.

The high price of corn in this country is a proof that in proportion to other articles it has a comparative scarcity, and in order to judge of the results, as affecting the wealth of the country in the particular article of corn, it is necessary to observe the mode in which the high price is brought about. Corn being a necessary of life, has a greater tendency to variation, from a sudden addition or contraction, than a luxury; and a small quantity thrown into the market more than usual, either from the effects of abundant seasons, or increased importation, has a very great effect in lowering prices, and the subtraction of a small portion has also considerable effect in raising prices. Though no very accurate proportion between a deficiency of crop and a rise of price can be established, yet there is a rule, by an old author, who says, that a defect of one-tenth raises the price above the common rate three-tenths, and a deficiency of two-tenths raises the price eight-tenths, and so on, increasing very rapidly with each increased deficiency. But whatever the actual proportion may be, there is no doubt that the principle is correct. To keep corn higher than our neighbours, it is merely necessary for us to keep a portion of corn out of the market, and as we can seldom grow enough for ourselves, the end of raising the price is at once and easily accomplished by prohibiting importation. To say that the deficient quantity is made up by an increase of our home growth, is not the fact, nor ever can be the fact, as long as the price is higher here than in other countries, and no importation allowed. The very