Statements Illustrative of the Policy And Probable Consequences of the Proposed

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Statements Illustrative of the Policy And Probable Consequences of the Proposed
J R John Ramsay Mcculloch
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The low prices of 1821 and 1822, and again of 1833, 1834, and 1835, were, no doubt, in part occasioned by the excess of the foreign entries for consumption in the pre- vious years.
But there are other considerations that must be attended to in forming a fair estimate of the operation of the exist- ing Corn Laws. Were our ports always open under a moderate duty, nothing would be gained by pouring in supplies at any particular moment; they would only be furnished when necessary, and would be limi
...ted by the necessity ; and when prices were low, or falling, a large pi'oportion of the imports would be warehoused in anti- cipation of a future rise. But at present there is no room for consideration or combination ; everything must be done on the moment, and by fits and starts; we may not have brought a bushel of wheat from the Baltic for a year or two; but prices having risen in this country, and, the duty Laving fallen still more rapidly, we have now an instantaneous demand for all the corn that can be had !

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