TOPICS OF THE DAY.
CORN PROSPECTS.
THE price of' wheat advabees or falls in the London and provir.. cial markets according to the variations in the weather. A fine day damps the speculator; with rain, the quicksilver in his cal- culating barometer rises. Doubtless, there are " rogues in grain," who have their eyes fixed on present profits—who put forth state- ments In newspapers, and talk by the hour, about bad weather, deficient harvests, scarcity, distress, and so forth, with the simple intent of gaining a few shillings per quarter on the wheat they hold. Aware of this fact, WINO persons, among whom Sir PETER LAURIE and the Aldermen of London may be reckoned, profess to believe that there is no real danger of scarcity ; that the crops are superfluous in quantity ; that plenty will overflow the teeming land; and that the outcry about the Corn-laws is merely factious or interested. Nevertheless, it is undisputed, that in the spring, both on the Continent and in England, a large "breadth" of corn-sown laud was ploughed up—there being no chance of crops thereon ; it is also undeniable that an average crop would not be sufficient unless the population also remained at the average of former years, whereas population has incrtasel;
no doubt exists as to the generally unfavourable and at present unsettled state of the weather, whilst in every part of the country
north of Trent, some weeks of hot sun are required to save the wet and levelled corn ; add to all this, the price of the quartern loaf, and the rising averages; mid then will be seen the absurdity of imputing to speculators only the advance in the market-price of corn.
While, however, we agree that there are facts which fully ac- count for the high price independently of the manoeuvres of specu- lators fur a rise, we do not expect any immediate explosion, or any thing approaching to famine. That the pressure on the poor will be grievous, and that there will be much discontent, we doubt
not : but in a few weeks there will be a sufficient supply of corn, the produce of our own harvest, to prevent absolute starvation. But what is the prospect for next year? Be it remembered, that of this we are certain—there will be more mouths to satisfy ; there is nothing like certainty that there will be a better season than the present. Nay, the next year's crop may be less produc- tive than this year's; while the stuck on hand will be less. A correspondent of the Times has called attention to this point.
" The million quarters of foreign wheat, which you know await us, and which is an accumulation from several creeps, will not suffice to place us in aver age circumstances to meet the new crop : so that, unless the present en op of wheat exceeded an average, (and, from the thinness of plant, I du not think that with good weather it can,) we must lee pinched for another year, and at the
end of it have as short stocks of English wheat as at present,—with this disad-
vantage, that, instead of 1,000,001) quarters of accumulated foreign wheat to aid us, tce shall scarcely have any, seeing that the accumulated stocks here in bond, and now shipping off from the Continent, will have been consumed ; and our only resnurce will be the emnerfluity of the single foreign crop now grow. ing, aria which in Poland and Prussia, from one-half of the fields having been
ploughed up in spring, as well as subsequent unfavonrable weather, I know, from undoubted authority, is quite wretched. Uneler the most favourable cir- cumstances, therefore, our stock next July of fine wheat will out be larger—nay, promises to he smaller, whilst those of foreign wheat will be much smaller, than at present ; unless they be spun out by the thrift of high prices."
This writer sees only one res,urce against such a scarcity next summer as the boldest may shrink from contemplating even in the distance. He intimate:, that in order to avoid starvation in 1839, the people must stint themselves of food in 1835. But there is another plan by which the suffering and the danger might possibly be mitigated, and in part avoided. Mr. WALLACE, the Member for Greenock, said, just before the session closed, that perhaps Parliament might be summoned to meet in November, to pass a bill for suspending or abolish- ing the Corn-laws. The landowners present, chuckling at the notion of full-paid Michaelmas rents, laughed outright : yet it may come to pass that they will find the proposition no laughing matter. We are certain that no security can be ob- tained against grievous and alarming scarcity, next year, by any other plan. It will not do to wait tilt the climax arrives in next June or July; for then the Continental growers will have no superfluity themselves, and their prices will be ruled by these in England. But if there be security that the British market will be available for two or three years, then they may grow wheat for it; while at the same time the British agriculturist, being aware that the country will be bare of wheat tbr some time, may rely upon good prices, and increase his breadth" of corn. It may perhaps be questioned, even were the suggestion adopted, whether any large addition could be made to the quantity of wheat to be grown on the Continent, so as to be brought to market next year : but, in former times, large orders sent by English houses have stimulated the foreign grower, and timely English orders might produce the same effect again. Unless some precaution be taken, there is really danger of such a scarcity as the country has hardly ever known. The Glasgow Argus, representing on this question the opinions of one or the greatest cities in the empire, thinks that the time has come for an effective attack upon the Corn-laws- " It may yet he given us to reap in this year the fruits of the earth in due season. We wish, tl iiiii ghi we scarcely hope it may. Brat, even then, the anxiety we now suffer ought to prompt us to strive that the country may be placed, in after years, out of reach of the danger which even now seem clutching us by the throat. If the people unite now to demand the total sad unconditional repeal of the C.ern•laws, eetnething may be dose. The labourers
feel their griping effects. The merchants and manufacturers see that, unles they are repealed, ruin impends over us. Statesmen are thundering in the ears of financiers wailing over diminishing revenue, ' Unless you trade with foreign nations, foreign nations will not trade with you.' The Liberal press through. out the empire is, as with one voice, urging an onslaught on the Corn-laws."
AB this is true; but the people want a leader. And we think, after reading Lord BROUGHAM'S speech on the effect of the corn monopoly on the foreign commerce of the country,* they need not go far to find one. Even the Duke of WELLINGTON, who was bound to take the opposite side, pronounced it most adroit—" it displayed as much address as he had ever witnessed on the part of the noble and learned lord." It displayed something a great deal better than address—a knowledge of the true principles of commerce, and a conviction of the impossibility of maintaining the foreign trade of the country with the Corn-laws and the Timber-duties at the same time. Lord BROUGHAM'S speech was unpremeditated, and fell upon the ear of " the deaf adder" in the I louse of Lords: but, by making this subject, as he has made others, his own—by constantly speaking through it to the country —he may become the instrument of overthrowing the gigantic mo- nopoly of the landed aristocrats, and thds rendering a service to the mercantile classes and the masses (some of the former not very well pleased at present by his Canadian and Anti-Ministerial policy) vastly superior to the repeal of the Orders in Council, which first brought him prominently before the public. The question is now ripe for the exercise of his peculiar function of stimulating, and enforcing from day to day by striking illustra- tion. We long to see him knocking down like ninepins, Lou! after Lord, each with his little fallacy or lame pretence, as petition upon petition is presented—where senators are not gagged, as in the assembly of the " Reformed" Commons, for that, forsooth, speaking on petitions aggravates that House's " disorder." Im- pregnable in principle, and important above all other practical questions, the cause of Free Corn has always wanted an eloquent living organ. BROUGHAM is the very man! Let him, us his man- ner is, without delay, prepare himself for the great duty and the slorieus achievement. He will have ample opportunity, not only an Parliament, but at those vast assemblages of the people to which he may be invited during the recess, and the anticipation of which has already alarmed the men in office.
* In the House of Lords, on the 14th instant. We regret that we had not room to do justice at the time to this speech ; which, an excellent judge, who was present in the House when it was delivered, informs us, was one of the moat effective imaginable, though apparently unpremeditated.
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