Dr Smith, in his
discussion of the bounty upon the exportation of corn. Those who are
conversant with the Wealth of nations, will be aware, that its great
author has, on this occasion, left entirely in the background the
broad, grand, and almost unanswerable arguments, which the general
principles of political economy furnish in abundance against all
systems of bounties and restrictions, and has only brought forwards,
in a prominent manner, one which, it is intended, should apply to
corn alone. It is not surprising that so high an authority should
have had the effect of attracting the attention of the advocates of
each side of the question, in an especial manner, to this particular
argument. Those who have maintained the same cause with Dr Smith,
have treated it nearly in the same way; and, though they may have
alluded to the other more general and legitimate arguments against
bounties and restrictions, have almost universally seemed to place
their chief reliance on the appropriate and particular argument
relating to the nature of corn.

On the other hand, those who have taken the opposite side of the
question, if they have imagined that they had combated this
particular argument with success, have been too apt to consider the
point as determined, without much reference to the more weighty and
important arguments, which remained behind.

Among the latter description of persons I must rank myself. I have
always thought, and still think, that this peculiar argument of Dr
Smith, is fundamentally erroneous, and that it cannot be maintained
without violating the great principles of supply and demand, and
contradicting the general spirit and scope of the reasonings, which
pervade the Wealth of nations.

But I am most ready to confess, that, on a former occasion, when I
considered the corn laws, my attention was too much engrossed by
this one peculiar view of the subject, to give the other arguments,
which belong to it, their due weight.

I am anxious to correct an error, of which I feel conscious. It is
not however my intention, on the present occasion, to express an
opinion on the general question. I shall only endeavour to state,
with the strictest impartiality, what appear to me to be the
advantages and disadvantages of each system, in the actual
circumstances of our present situation, and what are the specific
consequences, which may be expected to result from the adoption of
either. My main object is to assist in a