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THE

66 NEW DOCTRINES TO SUIT FRESH CONDITIONS."

"The world is still deceived with ornament."

"There is no vice so simple but assumes
Some mark of virtue on its outward parts."

"Thus ornament is but the guiled shore

To a most dangerous sea; the beauteous scarf
Veiling an Indian beauty: in a word

The seeming truth which cunning times put on
To entrap the wisest."

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-SHAKESPEARE.

UNEXPECTED DEVELOPMENT OF COBDEN'S FREE IMPORTS-INSTEAD OF GROWING 20,000,000 QUARTERS, WE IMPORT 16,000,000 QUARTERS OF WHEAT-COBDEN AND THE CHARTIST MOVEMENT— THE NATURE OF THE SUPPORT GIVEN TO COBDEN-HOW IT WAS HE AND HIS COLLEAGUES COULD MENACE THE PRIME MINISTER WITH CIVIL DISTURBANCE-CORN IMPORTS FORM THE GREAT BULK OF OUR IMPORT TRADE EXPLAIN THE DIFFERENCE BETWEEN EXPORTS AND IMPORTS-OUR ABILITY TO PAY FOR IMPORTS DEPENDS IN GREAT MEASURE UPON STATE OF OUR EXPORT TRADE-BUT LABOUR INTERESTS ENCROACHED UPON BY STATE AIDS TO FOREIGN MANUFACTURES-UNIVERSAL FREE TRADE WOULD BEAR UNEQUALLY UPON SMALL AND UNFAVOURABLY PLACED PEOPLES-FREE TRADE AND RACE ANTIPATHIES- FOREIGN SECURITIES DISCHARGE OUR CORN-BILL TENDENCY TO DISPLACEMENT OF BRITISH LABOUR SLOW, AND THEREFORE INSIDIOUS.

§ 28. Free trade does not tend to induce commercial equality among nations whose original surrounding con

ditions are unequal.-We know that Richard Cobden never expected that the imports of corn into the country would assume a formidable amount, under a free intercourse in that commodity. And we know, too, that he pointed in the direction of Russia, as being the principal source whence we were to derive our additional supplies. How he ridiculed the idea of “ valleys of corn" growing in the western hemisphere! And as to our colonial supply, it was so insignificant that it was scarce worth keeping up.2

But on this, as on so many other occasions, though he peered into the immediate future, he did not dip far enough. The remote future-that period involving the first generation after him—was a blank.

What were Cobden's sentiments in 1847 and 1848, when the corn imports were respectively 11,912,864 quarters, and 7,528,472 quarters ? 3 and whether they underwent any change or not from that original and enthusiastic frame of mind, in which he set forth his convictions that a free trade in corn would stimulate the British farmer to produce more extensively, we do not know. For Cobden never alluded to this " unexpected" development of his favourite policy. But it is

1 To this end Cobden quotes from the 'Times': "And we make no doubt whatever that reasonable and candid men will be astonished above measure at the universal nakedness of the land. The Baltic and the Euxine, the Mississippi, are names of terror to some minds.”—P. 152. But were the alarms of the protectionists unfounded? Who was in the right, Cobden or Lord Stanley?

2 In 1841 Sir Robert Peel advocated the policy of introducing colonial wheat free of duty.

3 Kolb's 'Condition of Nations,' translated by Mrs Emma Brewer, p. 76: G. Bell & Sons. Parts of these large quantities were due to the hoarding up of the surpluses of previous harvests.

now evident that his information respecting the resources of corn-growing countries was restricted; he appears not to have made this department of economical knowledge as free as it might have been made. It is possible that M'Culloch was in large degree responsible for this contraction of the subject. But whether M'Culloch was more influenced by Cobden, or Cobden by M'Culloch, is difficult to decide. We have a clue, however, to one solution. Cobden was in favour of the repeal of the Corn Laws from both an economical and political standpoint. M'Culloch was in favour of the sliding-scale from an economical point of view; but in 1841 he1 considered the matter from its political aspect entirely; and he arrived at the conclusion that it was expedient to repeal the Corn Laws, as being the safest means by which the integrity of the constitution might be maintained. M'Culloch sacrificed his economical doctrines for a political object.2

Now, let us analyse one of the grounds which prompted Cobden to advocate the repeal of the Corn Laws.

As population advanced, it became necessary to extend the cultivation of wheat to inferior or to new soils. Such could not be effected without determining more capital into the hands of the farmers. And to

1 See his pamphlet on the Corn Laws, published in 1841. The Duke of Wellington also took the same line as M'Culloch.

2 It is of importance to notice, however, that M'Culloch's judgment on the question of a free intercourse in corn underwent a very serious change. But it may be explained from the facts, that the conditions affecting our agriculture likewise underwent a change between the appearance of the Principles of Political Economy' in 1830, and the pamphlet on the "Corn Question" in 1841. In 1830 he was on the side of free trade; in 1841, on that of protection.

ditions are unequal.-We know that I. never expected that the imports of country would assume a formidable an free intercourse in that commodity. An that he pointed in the direction of Russi principal source whence we were to de tional supplies. How he ridiculed the ic of corn" growing in the western hemi as to our colonial supply, it was so insig was scarce worth keeping up.2

But on this, as on so many other occasi peered into the immediate future, he di enough. The remote future-that period. first generation after him-was a blank.

What were Cobden's sentiments in 18 when the corn imports were respectivel quarters, and 7,528,472 quarters ? 3 and underwent any change or not from that enthusiastic frame of mind, in which he convictions that a free trade in corn wou the British farmer to produce more extens not know. For Cobden never alluded to pected" development of his favourite policy

1 To this end Cobden quotes from the "Times': "Al oubt whatever that reasonable and candid men will ove measure at the universal nakedness of the land. Euxine, the Mississippi, are names of terror to some mi were the alarms of the protectionists unfounded? W t, Cobden or Lord Stanley?

Robert Peel advocated the policy of

duty.
Tations,' translated by Mrs En
of these large quantities
ses of previous harvests.

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