T11 E WKALTII OK NATIONS.

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dling rye, pease, or beaus, to thirty-two shilling's ; that of bar-ley to twenty-four shillings ; and that of oats to sixteen shil-lings; and instead of them a small duty is imposed of onlysixpence upon the quarter of wheat, and upon that of othergrain in proportion. With regard to all these different sortsof grain, but particularly with regard to wheat, the home mar-ket is thus opened to foreign supplies at prices considerablylower than before.

By the same statute the old bounty of five shillings uponthe exportation of wheat ceases so soon as the price rises toforty-four shillings the quarter, instead of forty-eight, theprice at which it ceased before ; that of two shillings and six-pence upon the exportation of barley ceases so soon as theprice rises to twenty-two shillings, instead of twenty-four,the price at which it ceased before; that of two shillingsand sixpence upon the exportation of oatmeal ceases so soonas the price rises to fourteen shillings, instead of fifteen, theprice at which it ceased before. The bounty upon rye is re-duced from three shillings and sixpence to three shillings,and it ceases so soon as the price rises to twenty-eight shil-lings, instead of thirty-two, the price at which it ceased be-fore. If bounties are as improper as l have endeavoured toprove them to be, the sooner they cease, and the lower theyare, so much the better.

The same statute permits, at the lowest prices, the import-ation of corn, in order to be exported again, duty free, pro-vided it is in the mean time lodged in a warehouse under thejoint locks of the king and the importer. This liberty, in-deed, extends to no more than twenty-five of the differentports ot Great. Britain . They are, however, the principalones, and there may not, perhaps, he warehouses proper forthis purpose in the greater part of the others.

So far this law seems evidently an improvement upon theancient system.

. ^ u t by the same law a bounty of two shillings the quarter1S S lveu for the exportation of oats whenever the price docsnot exceed fourteen shillings. No bounty had ever beengiven before for the exportation of this grain, no more thanfor that of pease or beans.

By the same law too, the exportation of wheat is prohibitedso soon as the price rises to forty-four shillings the quarter;that of rye so soon us it rises to twenty-eight shillings ; that° barley so soon as it rises to twenty-two shillings; and