and perhaps allow
it to be progressive. But, in future, we should endeavour, if
possible, to avoid all discussions about the necessity of protecting
the British farmer, and securing to him a fair living profit. Such
language may perhaps be allowable in a crisis like the present. But
certainly the legislature has nothing to do with securing to any
classes of its subjects a particular rate of profits in their
different trades. This is not the province of a government; and it
is unfortunate that any language should be used which may convey
such an impression, and make people believe that their rulers ought
to listen to the accounts of their gains and losses.

But a government may certainly see sufficient reasons for wishing to
secure an independent supply of grain. This is a definite, and may
be a desirable, object, of the same nature as the Navigation Act;
and it is much to be wished, that this object, and not the interests
of farmers and landlords, should be the ostensible, as well as the
real, end which we have in view, in all our inquiries and
proceedings relating to the trade in corn.

I firmly believe that, in the actual state of Europe, and under the
actual circumstances of our present situation, it is our wisest
policy to grow our own average supply of corn; and, in so doing, I
feel persuaded that the country has ample resources for a great and
continued increase of population, of power, of wealth, and of
happiness.

NOTES:

1. Some of my friends were of different opinions as to the side,
towards which my arguments most inclined. This I consider as a
tolerably fair proof of impartiality.

2. Mercantile losses are always comparatively partial; but the
present losses, occasioned by the unusual combination of low prices,
and scanty produce, must inflict a severe blow upon the whole mass
of cultivators. There never, perhaps, was known a year more
injurious to the interests of agriculture.

3. At the same time, I certainly now very much wish that some
regulation had been adopted last year. It would have saved the
nation a great loss of agricultural capital, which it will take some
time to recover. But it was impossible to foresee such a year as the
present--such a combination, as a very bad harvest, and very low
prices.

4. I have very little doubt that the value of paper in this country
has already risen, norwithstanding the increased issues of the Bank.
These increased issues I attribute chiefly to t