BOOK market was not, even in times of confiderable

IV.

fcarcity, allowed to enjoy the whole of that growth. The temporary laws, prohibiting for a limited time the exportation of corn, and taking off for a limited time the duties upon its importation, expedients to which Great Britain has been obliged fo frequently to have recourse, fufficiently demonftrate the impropriety of her general fyftem. Had that fyftem been good, she would not fo frequently have been reduced to the neceffity of departing from it.

WERE all nations to follow the liberal system of free exportation and free importation, the different ftates into which a great continent was divided would fo far refemble the different provinces of a great empire. As among the different provinces of a great empire the freedom of the inland trade appears, both from reason and experience, not only the best palliative of a dearth, but the most effectual preventative of a famine; fo would the freedom of the exportation and importation trade be among the dif ferent ftates into which a great continent was divided. The larger the continent, the easier the communication through all the different parts of it, both by land and by water, the less would any one particular part of it ever be expofed to either of these calamities, the scarcity of any one country being more likely to be relieved by the plenty of fome other. But very few countries have entirely adopted this liberal fyftem. The freedom of the corn trade is almost every where more or less restrained, and,

in

V.

in many countries, is confined by fuch abfurd CHA P. 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 fo great and fo urgent, that a small state in their neighbourhood, which happened at the fame time to be labouring under fome degree of dearth, could not venture to fupply them without expofing itself to the like dreadful calamity. The very bad policy of one country may thus render it in fome measure dangerous and imprudent to establish what would otherwise be the best policy in another. The unlimited freedom of exportation, however, would be much lefs dangerous in great states, in which the growth being much greater, the fupply could feldom be much affected by any quantity of corn that was likely to be exported. In a Swifs canton, or in fome of the little ftates of Italy, it may, perhaps, fometimes be neceffary to reftrain the exportation of corn. In fuch great countries as France or England it scarce ever can. To hinder, befides, the farmer from fending his goods at all times to the best market, is evidently to facrifice the ordinary laws of justice to an idea of public utility, to a fort of reafons of state; an act of legislative authority which ought to be exercised only, which can be pardoned only in cafes of the most urgent neceffity. 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

BOOK

IV.

THE laws concerning corn may every where be compared to the laws concerning religion. The people feel themfelves fo much interested in what relates either to their fubfiftence in this life, or to their happiness in a life to come, that government must yield to their prejudices, and, in order to preferve the public tranquillity, eftablish that fyftem which they approve of. It is upon this account, perhaps, that we fo feldom find a reasonable fyftem eftablished with regard to either of thofe 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 fupply of the home market. It is not indeed the direct purpofe of his trade to fell 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 faves in this manner the expence of loading and unloading, of freight and infurance. The inhabitants of the country which, by means of the carrying trade, becomes the magazine and ftorehouse for the fupply 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 raife fomewhat the real value of filver.

THE carrying trade was in effect prohibited in Great Britain, upon all ordinary occafions, by the high duties upon the importation of foreign

corn,

corn, of the greater part of which there was no drawback; and upon extraordinary occafions, "when a scarcity made it neceffary to fufpend those duties by temporary ftatutes, exportation was always prohibited. By this fyftem of laws, there. fore, the carrying trade was in effect prohibited. upon all occafions.

THAT fyftem 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 profperity of Great Britain, which has been fo often ascribed to thofe laws, may very easily be accounted for by other caufes. That fecurity which the laws in Great Britain give to every man that he fhall enjoy the fruits of his own labour, is alone fufficient to make any country flourish, notwithstanding these and twenty other abfurd regulations of commerce; and this fecurity was perfected by the revolution, much about the fame time that the bounty was established. The natural effort of every individual to better his own condition, when fuffered to exert itself with freedom and fecurity, is fo powerful a principle, that it is alone, and without any affiftance, not only capable of carrying on the fociety to wealth and profperity, but of furmounting a hundred impertinent obftructions with which the folly of human laws too often incumbers its operations; though the effect of thefe obftructions. is always more or lefs either to encroach upon its freedom, or to diminish its fecurity. In Great Britain industry is perfectly fecure; and though

it

CHAP.

V.

IV.

BOOK 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 pofterior to that fyftem of laws which is connected with the bounty, we must not upon that account impute it to thofe laws. It has been pofterior likewife to the national debt. But the national debt has most affuredly not been the cause of it.

THOUGH the system of laws which is connected with the bounty, has exactly the fame tendency with the police of Spain and Portugal; to lower fomewhat 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 fituation, however, may eafily be accounted for from two different caufes. First, the tax in Spain, the prohibition in Portugal of exporting gold and filver, and the vigilant police. which watches over the execution of those laws, muft, in two very poor countries, which between them import annually upwards of fix millions fterling, operate, not only more directly, but much more forcibly in reducing the value of thofe metals there, than the corn laws can do in Great Britain. And, fecondly, this bad policy is not in those countries counter-balanced by the general liberty and fecurity of the people. Industry is there neither free nor fecure, and the civil and ecclefiaftical governments of both Spain

and