On the Currency in Connexion With the Corn Trade And On the Corn Laws to Which
On the Currency in Connexion With the Corn Trade And On the Corn Laws to Which
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Western's letter to Lord Livei-pool, May 1826: — "Can there be a doubt, 1 repeat, now, that the veiy first commencement of our difficulties, the first depression of agriculture and commerce in 1815 and 1816, were caused altogether by the contraction of the cur- rency ?■' Mr. Western here quite forgets th:it, in his speech, March 1816, he states the distress of the farmers from a fall of price to have occurred in 1813 and 1814 ; and he accounts very justly for the fall of price. " The full effec...t, " he says, " of all our improvements has just been completely realized ; and two or three good harvests from this ex- tended and improved agriculture, together with continued import, and demand reduced, have occasioned such a surplus in the market as very obvio\i"ly accounts for the first depression of the price. " 37 so, in their explanation of the rise of prices, and the renewed appearances of prosperity, in the in- terval from 1816 to 1819 *. They contend, as, in my former Letter, I had occasion to observe, that this rise of prices and consequent revival of agri- culture and commerce, was caused by an enlarge- ment of the circulation.
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To quickly assess the difficulty of the text, read a short excerpt:
Western's letter to Lord Livei-pool, May 1826: — "Can there be a doubt, 1 repeat, now, that the veiy first commencement of our difficulties, the first depression of agriculture and commerce in 1815 and 1816, were caused altogether by the contraction of the cur- rency ?■' Mr. Western here quite forgets th:it, in his speech, March 1816, he states the distress of the farmers from a fall of price to have occurred in 1813 and 1814 ; and he accounts very justly for the fall of price. " The full effec...t, " he says, " of all our improvements has just been completely realized ; and two or three good harvests from this ex- tended and improved agriculture, together with continued import, and demand reduced, have occasioned such a surplus in the market as very obvio\i"ly accounts for the first depression of the price. " 37 so, in their explanation of the rise of prices, and the renewed appearances of prosperity, in the in- terval from 1816 to 1819 *. They contend, as, in my former Letter, I had occasion to observe, that this rise of prices and consequent revival of agri- culture and commerce, was caused by an enlarge- ment of the circulation.
What to read after On the Currency in Connexion With the Corn Trade And On the Corn Laws to Which?
You can find similar books in the "Read Also" column, or choose other free books by Thomas Tooke to read onlineMoreLess
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