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of the corn trade is almost everywhere more or less restrained；
and； in many countries； is confined by such absurd regulations as
frequently aggravate the unavoidable misfortune of a dearth into
the dreadful calamity of a famine。 The demand of such countries
for corn may frequently become so great and so urgent that a
small state in their neighbourhood； which happened at the same
time to be labouring under some degree of dearth； could not
venture to supply them without exposing itself to the like
dreadful calamity。 The very bad policy of one country may thus
render it in some measure dangerous and imprudent to establish
what would otherwise be the best policy in another。 The unlimited
freedom of exportation； however； would be much less dangerous in
great states； in which the growth being much greater； the supply
could seldom be much affected by any quantity of corn that was
likely to be exported。 In a Swiss canton； or in some of the
little states of Italy； it may perhaps sometimes be necessary to
restrain the exportation of corn。 In such great countries as
France or England it scarce ever can。 To hinder； besides； the
farmer from sending his goods at all times to the best market is
evidently to sacrifice the ordinary laws of justice to an idea of
public utility； to a sort of reasons of state； an act of
legislative authority which ought to be exercised only； which can
be pardoned only in cases of the most urgent necessity。 The price
at which the exportation of corn is prohibited； if it is ever to
be prohibited； ought always to be a very high price。
The laws concerning corn may everywhere be compared to the
laws concerning religion。 The people feel themselves so much
interested in what relates either of their subsistence in this
life； or to their happiness in a life to come； that government
must yield to their prejudices； and； in order to preserve the
public tranquillity； establish that system which they approve of。
It is upon this account； perhaps； that we so seldom find a
reasonable system established with regard to either of those two
capital objects。
IV。 The trade of the merchant carrier； or of the importer of
foreign corn in order to export it again； contributes to the
plentiful supply of the home market。 It is not indeed the direct
purpose of his trade to sell his corn there。 But he will
generally be willing to do so； and even for a good deal less
money than he might expect in a foreign market； because he saves
in this manner the expense of loading and unloading； of freight
and insurance。 The inhabitants of the country which； by means of
the carrying trade； becomes the magazine and storehouse for the
supply of other countries can very seldom be in want themselves。
Though the carrying trade might thus contribute to reduce the
average money price of corn in the home market； it would not
thereby lower its real value。 It would only raise somewhat the
real value of silver。
The carrying trade was in effect prohibited in Great
Britain； upon all ordinary occasions； by the high duties upon the
importation of foreign corn； of the greater part of which there
was no drawback； and upon extraordinary occasions； when a
scarcity made it necessary to suspend those duties by temporary
statutes； exportation was always prohibited。 By this system of
laws； therefore； the carrying trade was in effect prohibited upon
all occasions。
That system of laws； therefore； which is connected with the
establishment of the bounty； seems to deserve no part of the
praise which has been bestowed upon it。 The improvement and
prosperity of Great Britain； which has been so often ascribed to
those laws； may very easily be accounted for by other causes。
That security which the laws in Great Britain give to every man
that he shall enjoy the fruits of his own labour is alone
sufficient to make any country flourish； notwithstanding these
and twenty other absurd regulations of commerce； and this
security was perfected by the revolution much about the same time
that the bounty was established。 The natural effort of every
individual to better his own condition； when suffered to exert
itself with freedom and security is so powerful a principle that
it is alone； and without any assistance； not only capable of
carrying on the society to wealth and prosperity； but of
surmounting a hundred impertinent obstructions with which the
folly of human laws too often incumbers its operations； though
the effect of these obstructions is always more or less either to
encroach upon its freedom； or to diminish its security。 In Great
Britain industry is perfectly secure； and though it is far from
being perfectly free； it is as free or freer than in any other
part of Europe。
Though the period of the greatest prosperity and improvement
of Great Britain has been posterior to that system of laws which
is connected with the bounty； we must not upon that account
impute it to those laws。 It has been posterior likewise to the
national debt。 But the national debt has most assuredly not been
the cause of it。
Though the system of laws which is connected with the bounty
has exactly the same tendency of tendency with the police of
Spain and Portugal； to lower somewhat the value of the precious
metals in the country where it takes place； yet Great Britain is
certainly one of the richest countries in Europe； while Spain and
Portugal are perhaps among the most beggarly。 This difference of
situation； however； may easily be accounted for from two
different causes。 First； the tax of Spain； the prohibition in
Portugal of exporting gold and silver； and the vigilant police
which watches over the execution of those laws； must； in two very
poor countries； which between them import annually upwards of six
millions sterling； operate not only more directly but much more
forcibly in reducing the value of those metals there than the
corn laws can do in Great Britain。 And； secondly； this bad policy
is not in those countries counterbalanced by the general liberty
and security of the people。 Industry is there neither free nor
secure； and the civil and ecclesiastical governments of both
Spain and Portugal are such as would alone be sufficient to
perpetuate their present state of poverty； even though their
regulations of commerce were as wise as the greater part of them
are absurd and foolish。
The 13th of the present king； c。 43； seems to have
established a new system with regard to the corn laws in many
respects better than the ancient one； but in one or two respects
perhaps not quite so good。
By this statute the high duties upon importations for home
consumption are taken off so soon as the price of middling wheat
rises to forty…eight shillings the quarter； that of middling rye；
pease or beans； to thirty…two shillings； that of barley to
twenty…four shillings； and that of oats to sixteen shillings； and
instead of them a small duty is imposed of only sixpence upon the
quarter of wheat； and upon that of other grain in proportion。
With regard to all these different sorts of grain； but
particularly with regard to wheat； the home market is thus opened
to foreign supplies at prices considerably lower than before。
By the same statute the old bounty of five shillings upon
the exportation of wheat ceases so soon as the price rises to
forty…four shillings the quarter； instead of forty…eight； the
price at which it ceased before； that of two shillings and
sixpence upon the exportation of barley ceases so soon as the
price rises to twenty…two shillings； instead of twenty…four； the
price at which it ceased before； that of two shillings and
sixpence upon the exportation of oatmeal ceases so soon as the
price rises to fourteen shillings； instead of fifteen； the price
at which it ceased before。 The bounty upon rye is reduced from
three shillings and sixpence to three shillings； and it ceases so
soon as the price rises to twenty…eight shillings instead of
thirty…two； the price at which it ceased before。 If bounties are
as improper as I have endeavoured to prove them to be； the sooner
they cease； and the lower they are； so much the better。
The same statute permits； at the lowest prices； the
importation of corn； in order to be exported again duty free；
provided it is in the meantime lodged in a warehouse under the
joint locks of the king and the importer。 This liberty； indeed；
extends to no more than twenty…five of the different ports of
Great Britain。 They are； however； the principal ones； and there
may not； perhaps； be warehouses proper for this purpose in the
greater part of the others。
So far this law seems evidently an improvement upon the
ancient system。
But by the same law a bounty of two shillings the quarter is
given for the exportation of oats whenever the price does not
exceed fourteen shillings。 No bounty had ever been given before
for the exportation of this grain； no more than for that of pease
or beans。
By the same law； too； the exportation of wheat is prohibited
so soon as the price