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improvements in, and adoption of, irrigation." P. 38.

CORN.

“ NOTWITHSTANDING the infufficiency of the produce (particularly of laft year's), we should not have felt it fo feverely, by the timely exertions of government, in procuring foreign fupplies; but the good effects intended, have been counteracted by the machinations of those pests to society and the fair trader, dealers in corn; and although government has exerted itself to obtain fupplies from foreign markets, they have not yet guarded against that rapacious fet ferving it out to us by fpoonfuls, and felling it as gold.

"It is to be hoped, that a mere hint upon this fubject will be fufficient for the legiflature's improving upon, and thereby verifying the encomiums of the plenty of Britain, the protection of its fubjects, and the wifdom of its

laws.

"When government are holding out bounties to the amount of three millions, for importations in the courfe of one twelvemonth, why not become purchafers of the whole, and regulate the fale of it? for the attendant trouble and expense need not be mentioned, when there are fuch flagrant inftances in ufclefs matters. In all importations of iron, hemp, timber, &c. &c. tenders are made of them to government, before they are permitted to public fale.

"For want of me regulation of this kind, entries are made, certificates for bounties are figned, and many of the cargoes never appear in the market, or elfe are fold by fample only.

"The advantage taken by the overfight of this is evident from the number of fhips that have remained for months in the river, laden with corn, and fuffering a demurrage to a very confiderable expenfe, rather than unlade and produce their cargoes in the market. By thefe means the fupply is kept fhort, when there is actually a fufficiency of corn in the nation, the chief object being an enhance of price; and, by the time it arrives in the market, it is heated and damaged, and the flour produced therefrom is mufty, and one half of it actually spoiled.

"And I appeal to thofe who are enabled by their fituation to anfwer me, if latterly, petitions for many

thoufand quarters of wheat to be made into starch, have not been given in to the Council Office, becaufe it was deemed useless for any other purpofe; when at the time of its arrival, three months previous, the corn was perfectly falcable, and would even have been fo now, had it been landed and brought to market in proper time, and fufficiently aired immediately after the voyage. These are facts that defy con troverfy." P. 97.

DEARNESS OF PROVISIONS-CORS
MARKET, &C.

"AMONG the many pamphlets of the day, that have difcuffed the prefent fubject, moft of them have differed as to the caufe of the present high price of provifions, more efpecially corn; fome attributing it to fcarcity, and others to dearnefs only: but the rela tive proportion between the market demand, and the market fupply, will not in all cafes regulate the market price.

"This topic has been ably examined by Dr. Adam Smith, in his Treatife on the Wealth of Nations, wherein he endeavours to prove that the market price of most of the neceffaries of life, particularly corn, is regulated by the plenty or fcarcity of the currency of the national coin; and from whence it would appear, that the present high price was entirely owing to the fuperabundant currency of paper; and as much as the faid paper currency ex ceeds the proportion of fterling cur rency, at that time complained of, we must now expect the price of every article to be enhanced in the fame proportion. But this is not ftrictly true: whenever any article or provifion of life is converted from the hands of the market into thofe of trade, monopo lifts alone can regulate the market price as they please, without any rela tive adherence to the supply or the demand. The particular inftance of this has been verified, detected, and (it is to be hoped) destroyed, in the hop market.

"From this I mean to infer, that notwithstanding the fource is derived from fcarcity, yet it will not account for the dearnefs in toto; that is to fay, the price of corn has been artfully kept up, more than the scarcity of the fupply could juftify; and in spite of the

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hany apparent falutary regulations refpecting the corn market and mealweighers' returns, average prices, &c. &c. they have not been fufficient to check the evafions of those interested to keep their dealings from the knowledge of the public market; or, in plain words, the clandeftine dealings of buyers and fellers out of the market; neither does the average prices, or account of the London fupply of grain, answer the intended purpofe, as it now ftands.

"The statements laid before the Lord Mayor, from the mealweighers' re turns, include only the purchases made in the regular market; confequently the greatest part of the importations, which are chiefly fold by different auctions, never appear in thofe returns; which fales, fhould they be to ever fo great an amount, or at ever fo cheap a rate, would not influence the market price that governs the affize of bread as fet by his Lordship.

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"The quantities of foreign wheat, which have latterly been nearly the whole of the fupply of Mark Lane, have arrived there at second hand from prior purchasers; fo that the good effects which ought to have been derived to the community, from the endeavours of government to keep up a timely fupply, if they have not been counteracted, have been much impeded; and the monopolift has turned this overfight to his moft fanguine expectations.

"The account published weekly of the importation, from the Cocket Office, does not affect, in the flighteft degree, thofe returns alluded to, as they are merely given at the option of the Lord Mayor for the information of the public: but farther it alludes

not.

"Was the fale of these importations prefcribed by law to take place at the regular corn market, agreeable and conformable to the returns of the Cocket

Office, we should not only have the full fupply brought before the public (where we might fee what was, and what was not done in trade), but we should have the first felling prices thrown into the general average, and confequently much lower.

"But even fuppofing these reftrictions and regulations were to be adopted, it would only alleviate the evil in part; and not effectually root out fore-. ftalling and regrating, unless a further adoption was made of prohibiting fales by fample only; and until this is done, that strong majority, the monied men, will regulate dearnefs, even if scarcity is out of the queftion.

"However, as this could not be put in practice on the prefent limited fcale of the corn market, and the city having fome time back taken a part of this matter in confideration, it is to be fincerely hoped, that such an able and public-fpirited body will profecute their laudable intention, either by augmenting or moving the market or markets, as may appear the most eligible, and beft adapted for the public good.

"Although we have had feveral corn committees to investigate the state of the markets, supposed produce of the crops, &c. I do not find any elucidation of the baker's real profits: this is fettled, and we know what it is by theory, but in practice we shall find it is much more than the nature of the trade, and fair dealing, will warrant good. An examination of the trade upon the fubject, is fomething like the cuftom of an arraigned prifoner being afked, guilty, or not guilty? There is not the leaft doubt but the baker's real profit is double the ufual calculation; and that it is much more than the requifite living profit, is deducible from the number that underfell the afze, which they are not enabled to do by any unfair means, as the regular bakeis inveftigate their conduct pretty closely," P. 105.

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