Page:Vindication of a fixed duty on corn.djvu/31

25 sliding scale, 12s. per quarter were added to the value of 558,809 quarters in bond, between the 5th July and 5th August, and 10s. to the value of 796,749 quarters, between the 5th August and 5th Sept.; so that in two months while free Danzic had risen 4s. per quarter, Danzic in bond had risen 22s., shewing a bonus of 18s. per quarter, with which (in addition to the real rise in price) the sliding scale had rewarded the corn-holder for keeping his wheat out of the market. The very inferior quality of our new wheats, assisted by the operations of speculators now anxious to raise the duty, caused the averages rapidly to fall after the admission of the bonded corn; but the Danzic wheat maintained its value, and, according to the quotations, must have fully realized the price of the day on which it paid duty.

Does not this evidence justify my assertion, that an abatement of the duty from 10s. to 1s., when prices were high, would be simply a gift of 9s. per quarter upon all the corn in bond to the holders of that corn?

Now, look further. The quantity of wheat in warehouse, on the 5th August, was under 800,000 quarters; but the quantity entered for consumption at a low duty, in the month of Sept., exceeded 2,150,000 quarters; 1,350,000 quarters, therefore, were newly arrived, they must have been bought under the expectation of their coming in at a shilling duty, what price was paid for them?