FREE BOOKS

Author's List




PREV.   NEXT  
|<   170   171   172   173   174   175   176   177   178   179   180   181   182   183   184   185   186   187   188   189   190   191   192   193   194  
195   196   197   198   199   200   201   202   203   204   205   206   207   208   209   210   211   212   213   214   215   216   217   218   219   >>   >|  
cts among the most brilliant in the annals of England, was marked by an enormous increase of pauperism, and by the introduction of the merciful but wasteful remedy of the Poor Laws. 1660-1773. The corn legislation of Elizabeth remained without change during the reign of James, the civil wars and the Commonwealth. But on the restoration of Charles II. in 1660, the question was resumed, and an act was passed of a more prohibitory character. Export and import of corn, while nominally permitted, were alike subjected to heavy duties--the need of the exchequer being the paramount consideration, while the agriculturists were no doubt pleased with the complete command secured to them in the home market. This act was followed by such high prices of corn, and so little advantage to the revenue, that parliament in 1663 reduced the duties on import to 9% _ad valorem_, while at the same time raising the price at which export ceased to 48s., and reducing the duty on export from 20s. to 5s. 4d. per quarter. In a few years this was found to be too much free-trade for the agricultural liking, and in 1670 prohibitory duties were re-imposed on import when the home price was under 53s. 4d., and a duty of 8s. between that price and 80s., with the usual make-weight in favour of home supply, that export should be prohibited when the price was 53s. 4d. and upwards. But complaints of the decline of agriculture continued to be as rife under this act as under the others, till on the accession of William and Mary, the landed interest, taking advantage of the Revolution as they had taken advantage of the Restoration to promote their own interests, took the new and surprising step of enacting a bounty on the export of grain. This evil continued to affect the corn laws of the kingdom, varied, on one occasion at least, with the further complication of bounties on import, until the 19th century. The duties on export being abolished, while the heavy duties on import were maintained, this is probably the most one-sided form which the British corn laws ever assumed, but it was attended with none of the advantages anticipated. The prices of corn fell, instead of rising. There had occurred at the period of the Revolution a depreciation of the money of the realm, analogous in one respect to that which marked the first era of the corn statutes (1436-1551), and forming one of the greatest difficulties which the government of William had to encounter. Th
PREV.   NEXT  
|<   170   171   172   173   174   175   176   177   178   179   180   181   182   183   184   185   186   187   188   189   190   191   192   193   194  
195   196   197   198   199   200   201   202   203   204   205   206   207   208   209   210   211   212   213   214   215   216   217   218   219   >>   >|  



Top keywords:

duties

 

export

 
import
 

advantage

 

prices

 
prohibitory
 

marked

 

continued

 

William

 

Revolution


Restoration

 

statutes

 
taking
 

forming

 
interest
 
surprising
 
interests
 

promote

 

landed

 

favour


supply

 

prohibited

 
weight
 

encounter

 

upwards

 

complaints

 
accession
 

greatest

 

difficulties

 

decline


agriculture

 

government

 

enacting

 

bounty

 

assumed

 

attended

 

analogous

 
respect
 

British

 

advantages


occurred

 

depreciation

 
rising
 
anticipated
 

varied

 

occasion

 

kingdom

 
affect
 

abolished

 

maintained