cise. The Excise is perfectly competent to this duty; it has officers employed in each market town, fully qualified for the discharge of this duty, by having greater duties to perform, and who will be able, at a comparatively small increase of expense, to fulfil this employment; and by their intelligence, their business habits, and the responsibility which attaches to them as public officers, they will afford far greater security against fraud than can be obtained by intrusting this duty to individuals. We propose that these averages, taken as they are at present, shall be returned to the officer appointed in each market town by the Board of Excise. Another security which we propose to take is to widen the range from which the returns are to be made. At present, one hundred and fifty towns are named in the Corn Act, from which returns are received. In this number of one hundred and fifty, many considerable towns are not included. Towns have grown up since the passing of that Act which have become market towns, where large quantities of corn are sold. We propose, therefore, not to leave any discretionary power in any executive authority to add towns; but in the bill we shall introduce we propose to name the principal towns having corn markets, which are not included in the one hundred and fifty towns of the Corn Act. The more we can widen the range from which to collect the corn-returns, the greater security do we realize against the averages being improperly influenced by combinations, and the greater the facility presented in determining what is the average, by ascertaining the price of corn in the largest possible number of market towns.

We shall propose to limit the number of these towns, as at present, to England and Wales. The three precautions, then, which we thus propose to bring forward, as the most effective against fraud in the averages, are these,- first, to widen the range from which the averages are to be taken; secondly, to employ responsible officers, acting. under the authority of a public body, for the purpose of collecting these returns. But the main security which we rely on as providing against fraud, is such an alteration in the duty as shall diminish the temptation to commit fraud."

He now approached the most important part of the subject, the amount of protection to be given to the produce of this country:"At the present time, the House is aware, the duty varies in this way: when the price is 59s. and under 60s., the duty is 27s.; it then diminishes 1s. in duty with every 1s. increase in price, until corn reaches the price of between 66s. and 67s., when the duty is 20s. 8d.; it then falls 2s. in duty with the increase in price, so that when the price is between 68s. and 69s., the duty is 16s. 8d.; at 70s. the duty is 13s. 8d., and at 71s. 10s. 8d.; it then falls 4s. with each increase of price, so that at 73s. it is 2s. 8d., and at 73s. and upwards, 1s. and no more. The main objection which has been urged to that mode of levying the duty is this-that the reduction of duty is so rapid that it holds out temptations to fraud. For instance, at 60s. the duty is 26s. 8d.; at 73s. the duty is 1s. only; so that between 60s. and 73s. there is an increase of price of 13s. and a decrease of duty of 25s. 8d., affording a great inducement to fraud, or to combinations for the purpose

of influencing the averages, giving, as it did, to parties so inclined, the advantage in the sale of one quarter of wheat of no less than 38s. 8d. At 66s. the duty is 20s. 8d.; so that even between 66s. and 73s. there is an inducement to parties to hold back corn of 7s. in the price and 19s. 8d. in the duty, making a total amount of pecuniary inducement to retain the article of 268. 8d. At 66s. the inducement to retain corn, in the hope of its rising to 70s., is 4s. in price and 10s. in duty; a total inducement of 14s. At 70s. price, the inducement for retaining corn till it reaches 73s., is 3s. price and 9s. duty; together 12s. Thus the consumer is injured, by the withholding of corn until it is dearer; the revenue, by the forced reduction of duty; the agriculturist, by the withholding of corn until it has reached the highest price, which is then snatched from him, and his protection defeated; while commerce suffers from the uncertainty."

The scale of duties which he had to propose had been devised with the desire to protect agriculture, but to facilitate, as far as possible, a commerce in corn with other countries. As to the term "remunerating price," he was almost afraid to name a thing so disputed; but the two points to be aimed at were, to determine the price which would encourage the home growth of corn, and that at which foreign corn might safely be admitted: "If we take the average of wheat that determines the commutation of tithe, the principle on which the Tithe Bill goes-the average, namely, of seven years, on which all the calculations in that respect are founded-I find that the price of wheat was about, on an average, 56s. 8d. If we take the average

of wheat for the last ten years, we shall find that the price has been about 56s. 11d. But in that average is included the average of the last three years, when corn has been higher certainly than any one would wish to see it continue. (Hear, hear.) Allowing for that excess of price, however, 56s. 11d. was the average price for the last ten years. Now, with reference to the probable remunerating price, I should say, that for the protection of the agricultural interest, as far as I can possibly form a judgment, if the price of wheat in this country, allowing for its natural oscillations, could be limited to some such amount as between 54s. and 58s., I do not believe that it is for the interest of the agriculturist that it should be higher. Take the average of the last ten years, excluding from some portion of the average the extreme prices of the last three years, and 56s. would be found to be the average; and, so far as I can form an idea of what would constitute a fair remunerating price, I for one should never wish to see it vary more than I have said. ('Hear, hear,' from the Opposition.) I cannot say, on the other hand, that I am able to see any great or permanent advantage to be derived from the diminution of the price of corn beyond the lowest amount I have named, if I look at the subject in connexion with the general position of the country, the existing relations of landlord and tenant, the burthens upon land, and the habits of the country. When I name this sum, however, I must beg altogether to disclaim mentioning it as a pivot or remunerating price, or any inference that the Legislature can guarantee the continuance of that price; for I know

it to be impossible to effect any such object by a legislative enactment. It is utterly beyond your power, and a mere delusion, to say, that by any duty, fixed or otherwise, you can guarantee a certain price to the producer. It is beyond the reach of the Legislature. In 1835, when you had what some thought was a nominal protection to the amount of 64s., the average price of wheat did not exceed 39s. Sd., and I again repeat, that it is only encouraging delusion to hold out the hope that this species of protection can be afforded to the agriculturist. To return, however, to the subject; I again say that nothing can be more vague than to attempt to define a remunerating price. The different qualities of land, and a thousand other considerations, enter into the question." Greater difficulties occurred in fixing the value of foreign corn; for its quality as compared with that of England, freight, distance, and other considerations disturbed the calculation. Sir Robert Peel then described his new scale. "We propose that when corn is at 50s. and under 51s. in price, a duty of 20s. shall be taken, but that in no case shall that duty be exceeded. We propose that when the price is 51s. and under 52s., the duty shall be 19s.; and after this we propose that there should be what I should call a rest in the scale. That at the three next items of price the duty should be uniform. Thus it would be::When the price is 52s. and under 53s., the duty should be 18s.; when 53s. and under 54s., 18s. ; and when 54s. and under 55s., still 18s. When the price is 55s. and under 56s., we propose that the duty shall be 178.; when 56s. and under 57s., that it shall be 16s.;

when 57s. and under 58s., that it shall be 15s.; when 58s. and under 59s., that it shall be 14s.; when 59s. and under 60s., that it shall be 13s.; when 60s. and under 61s., that it shall be 12s.; when 61s. and under 62s., that it shall be 11s.; when 62s. and under 63s., that it shall be 10s.; when 63s. and under 64s., that it shall be 9s. ; when 64s. and under 65s., that it shall be 8s.; and when 65s. and under 66s., that it shall be 7s. At the three next items of price I propose another rest in the scale similar to the former. I should propose upon the next three a duty of 6s., that is to say, when the price is 66s. and under 67s., when it is 67s. and under 68s., and when it is 68s. and under 69s. In each of those cases the duty would be 6s. When the price is 69s. and under 70s., I propose a duty of 5s.; when 70s. and under 71s., a duty of 4s.; when 71s. and under 72s., a duty of 3s.; when 72s. and under 73s., a duty of 2s.; and when 73s. and under 74s., a duty of 1s. the quar

ter.

When that price is arrived at I propose that the duty should altogether cease. The sum of the proposition, then, is this, that when corn in the British market is under the price of 51s. the quarter a duty of 20s. shall be levied, which duty shall never be exceeded, for I am quite satisfied that it is useless to take any greater amount of duty."

He described the nature of the changes with respect to other grain than wheat. "With respect to the other articles of grain, I propose to adopt the proportion of value and duty which I find in the present law. Valuing wheat in the proportion of 100, barley in that of 53, oats in that of 40, and rye, peas, and beans in that of 58; if it be assumed that at the

price of 56s. for wheat the duty would be 16s., then the duty on barley, when at 29s., would be 9s.; on oats, at the price of 22s., there would be a duty of 6s. 3d.; and on rye, peas, and beans, at 32s., there ought to be a duty of 10s 3 d. These are the proportions under the existing law, and I am not aware of any reason for altering them with respect to the other kinds of grain."

He then came to colonial wheat. "The law with respect to it is to this effect that British colonial wheat and flour shall be imported into this country at a duty of 5s. whenever the price of British wheat is below 67s.; that when the price of British wheat exceeds 67s., it shall then be admissible at a duty of 6d. I propose to give the same advantage to colonial wheat, respecting the reduction of prices at which it shall be admissible, as is given to other descriptions of wheat. But, considering that the sudden drop in the prices from 5s. to 6d., on account of the difference of 1s. in the price, is at variance with the principle of the law, which seeks to establish as equable and uniform a reduction of duty as possible, we propose to make this arrangement respecting colonial wheat-that when the price of British wheat is under 55s., the duty upon every quarter of British colonial wheat shall be 5s.; that when at 55s. and under 56s., it shall be 4s.; when at 56s. and under 57s., it shall be 3s.; when at 57s. and under 58s., 2s. ; and when at 58s. and upwards, it shall be 1s, thus taking away that sudden fall in the amount of duty levied upon colonial wheat which takes place under the existing law, but giving to the colonial wheat that advantage in the reduction of

the price which is given to other descriptions of wheat. With respect to flour, I propose to maintain the same calculation as exists with respect to wheat, so as to allow it to be admitted upon the same relative terms."

Sir Robert Peel then recapitulated the reduction which his new scale would effect :-"When corn is at 59s. and under 60s., the duty at present is 27s. 8d. When corn is between those prices, the duty I propose is 13s. When the price of corn is at 50s., the existing duty is 36s. 8d., increasing as the price falls; instead of which I propose, when corn is at 50s., that the duty shall only be 20s., and that that duty shall in no case be exceeded. (Hear, hear.) At 56s. the existing duty is 30s. 8d.; the duty I propose at that price is 16s. At 60s. the existing duty is 26s. 8d.; the duty I propose at that price is 12s. At 63s. the existing duty is 23s. 8d.; the duty I propose is 9s. At 64s. the existing duty is 22s. 8d.; the duty I propose is 8s. At 70s. the existing duty is 10s. 8d.; the duty I propose is 5s. Therefore it is impossible to deny, on comparing the duty which I propose with that which exists at present, that it will cause a very considerable decrease of the protection which the present duty affords to the home grower, a decrease, however, which in my opinion can be made consistently with justice to all the interests concerned."

In conclusion, he thus emphatically disclaimed the idea of legislating in favour of particular interests: "My belief, and the belief of my colleagues is, that it is important for this country, that it is of the highest importance to the welfare of all classes in this country, that

you should take care that the main sources of your supply of corn should be derived from domestic agriculture (hear, hear); while we also feel that any additional price which you may pay in effecting that object is an additional price which cannot be vindicated as a bonus or premium to agriculture, but only on the ground of its being advantageous to the country at large. You are entitled to place such a price on foreign corn as is equivalent to the special burdens borne by the agriculturist, and any additional protection you give to them I am willing to admit can only be vindicated on the ground that it is for the interest of the country generally. (Hear, hear.) I, however, certainly do consider that it is for the interest of all classes that we should be paying occasionally a small additional sum upon our own domestic produce, in order that we may thereby establish a security and insurance against those calamities that would ensue, if we became altogether, or in a great part, dependent upon foreign countries for our supply. (Hear, hear.) My belief is, that those alternations of seasons will continue to take place, that whatever laws you may pass you will still occasionally have to encounter deficient crops, that the harvests of other countries will also at times be deficient, and that if you found yourselves dependent upon foreign countries for so important an amount of corn as 4,000,000 or 5,000,000 of quarters, under these circumstances, and at a time when the calamity of a deficient harvest happened to be general, my belief is, that the principle of self-preservation would prevail in each country, that an impediment would be placed upon the exportation of

their corn, and that it would be applied to their own sustenance. (Hear.) While, therefore, I am opposed to a system of protection on the ground merely of defending the interests of a particular class, I, on the other hand, would certainly not be a party to any measure the effect of which would be to make this country permanently dependent upon foreign countries for any very consider ble portion of its supply of corn. That it might be for a series of years dependent on foreign countries for a portion of its supply-that in many years of scarcity a considerable portion of its supply must be derived from foreign countries-I do not deuy; but I nevertheless do not abandon the hope that this country, in the average of years, may produce a sufficiency for its own necessities. (Hear, hear.) If that hope be disappointed, if you must resort to other countries in ordinary seasons for periodical additions to your own supplies, then do I draw a material distinction between the supply which is limited, the supply which is brought in for the purpose of repairing our accidental and comparatively slight deficiency, and the supply which is of a more permanent and extensive character."

Finally, he said that he considered the present not an unfavourable time for a settlement of the subject; there was no great stock of foreign corn on hand to alarm the growers; the recess, notwithstanding the distress that existed, had been marked by an unusual calm; there was no popular violence to interrupt legislation; and there was a disposition to view any proposal for the adjustment of the question with calmness and moderation. Whether his proposition were accepted or rejected, he hoped