tions of the people; but in the speech, with which his lordship introduced it, he strongly urged the policy of diverting the surplus of the year from the sinking fund to the diminution of taxation. Mr. Robinson moved, by way of amendment, two resolutions; the first of which declared, that the surplus revenue of the current year amounted to 5,260,000l.; and the second, that, by the operation of this surplus, connected with the reduction of the interest of the 5 per cent stock, a diminution of taxes might be effected, from which the people would derive immediate relief. The amendment was carried by a great majority.

On the 1st of April, the report of the agricultural committee was laid before parliament [See Public Documents, p. 438]; and, on the 29th of the same month, the House resolved itself into a committee to take the report into consideration. On that day, three different schemes were proposed for the relief and protection of farmers and landlords; one by the marquis of Londonderry, the second by Mr. Ricardo, and the third by Mr. Huskisson. His lordship's plan was comprised in thirteen resolutions, which were to the following effect:

1. That his majesty be enabled to direct Exchequer bills, to an amount not exceeding one million, to be issued to commissioners in Great Britain, to be by them advanced under certain regulations and restrictions, whenever the average price of wheat shall be under 60s. per quarter, upon such corn, the growth of the United Kingdom, as shall be deposited in fit and proper warehouses.

2. That it is expedient to per

mit the holders of foreign corn now in warehouses, to have the same ground into flour, for the purpose of exportation, under such regulations as may guard against the fraudulent introduction of any part of the said corn for home consumption.

3. & 4. That whenever foreign wheat shall have been admitted for home consumption, under the provisions of an act made in the 55th year of his late majesty, the scale of prices at which the home consumption of foreign corn, meal, or flour, is permitted by the said act, shall cease and determine; and that foreign corn, meal, or flour, shall thereafter be permitted to be imported into the United Kingdom for home consumption, whenever the average prices of British corn shall be at or above the following prices; viz. whenever wheat shall be at or above 70s. per quarter; whenever rye, peas, or beans, shall be at or above 46s. per quarter; whenever barley, bear, or bigg, shall be at or above 35s. per quarter; whenever oats shall be at or above 25s. per quarter.

5. That whenever foreign corn, meal, or flour, shall be admissible, there shall be levied and paid upon it certain specified duties. When wheat was under 80s. per quarter, the duty was to be 128.; when it was at or above 80s. but under 85s., the duty was to be 5s.; and in both cases, there was to be an additional duty of 5s. in force, for the first three months after the opening of the ports. When the price rose to 85s. the duty was to be only 1s. per quarter. Similar scales were fixed for the other species of grain.*

The 6th, 7th, 8th, and 9th re

Kingdom, for home consumption, whenever the average prices of British corn shall be at or above the following prices; viz. whenever wheat shall be at or above 59s. per quarter; whenever rye, peas, and beans, shall be at or

above 39s. per quarter; whenever barley, bear, or biggs, shall be at or above 30s. per quarter; whenever oats shall be at or above 20s. per quarter; subject, however, to certain specified rates of duty.* Mr. Ricardo's scheme for the

regulation of the corn trade was contained in the 5 following resolutions:

1. "That it is expedient to provide, that the foreign corn now under bond in the United Kingdom, may be taken out for home consumption, whenever the average price of wheat, ascertained in the usual mode, shall exceed 65s. a quarter, upon the payment of the following duties:-Wheat 15s. a quarter: rye, peas, and beans, 9s. 6d. a quarter; barley, bear, or biggs, 7s. 6d. a quarter; oats, 5s. a quarter.

2. "That whenever the average price of wheat, ascertained in the usual mode, shall exceed 70s. a quarter, the trade in corn shall henceforth be permanently free, but subject to the following duties upon importation : Of wheat, 20s. a quarter; rye, peas, and beans, 13s. 3d. a quarter; barley, bear, or bigg, 10s. a quarter; oats, 6s. 8d. a quarter.

3. "That at the expiration of one year from the time at which the above duties on corn imported shall be in operation, they be reduced as follows:-On wheat, 1s. a quarter; rye, peas, and beans,

a quarter; barley, bear, or bigg, 6d. a quarter; oats 4d. a quarter.

4. "That a like reduction of duties be made in every subsequent year, until the duty on the importation of wheat be 10s. a quarter; rye, peas, and beans, 6s. 7d. a quarter; barley, bear, or bigg, 5s. a quarter; oats, 3s. 4d. a quarter, at which rates they shall henceforth be fixed.

5. "That a drawback or bounty be allowed on the exportation of corn to foreign countries; on wheat, 7s. a quarter; rye, peas, and beans, 4s. 6d. a quarter;

barley, bear, and bigg, 3s. 6d. a quarter; oats 28. 4d. a quarter; and that such drawback or bounty in like manner as the importation duty be fixed."

Mr. Huskisson's resolutions were as follow:

1. "That the ports of the United Kingdom were shut against the importation of foreign wheat, for home consumption, in the month of February, 1819, the average price being then 78s. 7d. a quarter, and that they have remained closed ever since; the average price of the year 1820 having been 65s. 7d-of the year 1821, 54s. 5d.-and of the three first months of 1822, 47s. 9d. a quarter.

2. "That in the year 1819, the quantity of British wheat imported into the port of London was 300,416 quarters; in 1820, 399,009 quarters; and in 1821, 494,828 quarters; and that, during the whole of this period of three years, the supply, in all the principal markets of the United Kingdom, appears uniformly to have exceeded the demand, notwithstanding the wants of an increasing population, and other circumstances, which have probably produced an increased annual consumption.

3. "That this excess of the supply above the demand must have arisen, either from an extent of corn tillage more than commensurate to the average consumption of the country; or from a succession of abundant harvests upon the same extent of tillage; from the coincident effect of both these causes.

or

4. "That in the fluctuation of seasons, the effect of the present corn law must be to expose, sometimes the grower of corn to the losses incident to an over redundant

produce, and at other times the consumer to the pressure inseparable from dearth; that the free importation of foreign corn (the remedy provided by the law for the latter evil), if wanted to a great amount, must be precarious in proportion as the demand is unusual; and that against the former evil the law affords to the grower no relief whatever.

5. “That the alternate evils of redundancy and scarcity cannot fail to be aggravated by the alternate excitement and depression to which the agriculture of the United Kingdom must be exposed, under the present system of our corn laws.

6. "That another evil effect of this system is, to convert farming into a hazardous and gambling speculation, which, however, prudently managed, must occasionally involve great losses to the capitals engaged in agriculture.

7." That a free trade in foreign corn, subject to certain duties on the importation thereof for home consumption, was, at all times, permitted, prior to the act of the 55th Geo. III, c. 26.

8. "That since the passing of that act, by which such importation is prohibited until the average price of wheat shall have reached or exceeded, for a certain time, 80s. a quarter, and other grain in proportion, a great accumulation of foreign corn has taken place in the warehouses of this country, and of the continent.

9. "That to obviate the prejudicial effects of that act, and to ensure a regular supply of grain, at prices as much as possible steady and moderate, it is expedient to provide for the repeal of so much of the said act as prohibits, under certain prices, the

importation of foreign grain for home consumption.

10. "That in order to render this repeal safe to the grower of British corn, and gradual in its operation, under the present accumulation of foreign grain in the warehouses of this country and in the ports of the continent, it is expedient to provide, that the foreign wheat, now under bond in the United Kingdom, may be taken out for home consumption, upon the payment of a duty of 15s. per quarter, as soon as the average price of wheat, ascertained in the usual mode, shall exceed 70s. a quarter; and that at the expiration of three months from the date of such admission of warehoused wheat into home consumption, or so much sooner as the average price shall exceed 80s. a quarter, wheat from abroad may be admitted, upon the payment of the like duty.

11. "That the trade in foreign corn shall thenceforth be permanently free; but subject to the following duties upon importation, or when taken out of warehouse for home consumption :-Wheat, 15s. a quarter, when the price shall not exceed 80s.; and when above that price, 5s.; and above 85s. one shilling ;-rye, peas, and beans, 9s. 6d. a quarter, when the price shall not exceed 53s.; and when above 53s., one shilling;— barley, bear, or bigg, 7s. 6d. a quarter, up to 40s.; and when above that price, one shilling ;oats, 5s. a quarter, up to 28s.; and when above that price, one shilling."

The first of lord Londonderry's resolutions that for advancing a loan to the amount of a million on the security of corn to be deposited in warehouses came