The Economist, Volume 1, No. 3

Chapter 2

Chapter 23,995 wordsPublic domain

Thus the whole attempt to protect all interests equally would immediately fail; every article produced in excess, and exported, would command only the lowest prices of open markets, and the fancied protection of the law would be void; while everything produced in deficiency, and of which we required to import a portion to make up the needful supply, would continue to be protected above the natural price of the world to any extent of import duty that the law imposed upon the quantity required to make up the deficiency.

Thus, for example, we export a large portion of the woollen, and the largest portion of the cotton goods which we manufacture, to all parts of the world, which we must sell at least as cheap as they can be bought in any other country. The same articles can only command the same price in the home market, and though the law imposed an import duty, by way of pretended protection, to any extent, upon similar foreign goods, it would not have the effect of raising the price one fraction. On the other hand, we do not produce as much wool or food as we consume, and have every year to import large quantities of each to make up the deficiency. Whatever duty, therefore, is put on the import of the quantity thus required, will enable the producers at home to maintain their price so much above the natural level of the world. By this state of things the country at large is injured in two distinct and prominent ways:--first,--those articles which we can make in excess, and export, must ever be the chief means of absorbing the increasing capital and labour of the country; and the impediment thrown in our way, of importing those things which we have in deficiency, must necessarily check our power of extending the demand for the produce of such increasing labour and capital; and, secondly,--the price of such articles as we produce in deficiency, will always be maintained much above the level of the world, to the great disadvantage of the other great class of producers, the price of whose labour, and whose profits, will be regulated by competition with those who have food, &c., at the lowest price.

So much as to the effect on the community at large. We will now shortly consider the effect on individual interests, which are thought to enjoy protection, and we believe we can show that there never was a condition so fraught with mischief and disappointment, with such unmitigated delusion, deception, and exposure to ruin, than is to be found in every case where protection operates. We think it can be clearly shown _that such occupations can never be more profitable; that they must usually be less profitable; and that they are always more exposed to vicissitudes than any other class_.

They never can be more profitable, because capital and enterprise will always be attracted to any occupation which offers a larger profit than the usual rate, till it is reduced to a level with others; they will usually be less profitable, indeed always in a community of increasing numbers, because the price being maintained by restriction above the price of the world, prevents an extension of such trades in the same proportion as those who naturally belong to them, and look to them for occupation, increase in numbers: they will be exposed to greater vicissitudes, because, being confined to the supply of only one market, any accidental circumstance, which either increases the usual supply, or diminishes the usual demand, will cause an infinitely greater depression than if they were in a condition to avail themselves of the markets of the whole world, over which they could spread an accidental and unusual surplus.

Thus, previous to 1824, the silk manufacturers of this country were protected to a greater extent than any other trade, and the price of silk goods was maintained much above the rate of other countries; our silk trade was therefore necessarily confined almost exclusively to the home market and our colonies, and though they had a monopoly of those markets, it was at the cost of exclusion (on account of higher price) from all other markets.

Notwithstanding this monopoly, the silk manufacturers could never command at any time larger _profits_ than other trades; for had they done so, competition would have increased until the rate was reduced to the common level of the country: on the contrary, the tendency was for profits and rates of wages to be smaller than in other great manufacturing branches, requiring equal capital and skill; because, with the increasing numbers who belonged to the silk trade,--the sons of manufacturers and of weavers, who naturally, in the first instance, look to the trade of their parents for their occupation,--the trade did not proportionably increase, from the fact of our being unable to extend our exports; and, lastly, it was exposed to much greater vicissitudes than other trades; for when, either from a temporary change of fashion or taste, or from a temporary stagnation of trade in this country, the accustomed demand was lessened, the silk manufacturers were unable to obtain any relief by extending their trade in the great neutral markets of the world, being excluded by price, and the whole surplus quantity remained a dead weight on this market only; whereas other branches of manufactures, practically enjoying no protection, in the case of depressed trade at home, had an opportunity of immediate relief, by spreading the surplus thereby created, at a very trifling sacrifice, over the wide markets which they supplied.

In this way the extent and duration of the vicissitudes and depressions in the silk trade were without parallel in any other; but since 1824, since this trade has been placed in a natural position by the removal of monopoly, the whole aspect of it has changed, and these peculiar evils have all disappeared.

Then again with regard to the products of land, which the law attempts to protect more highly than any other. Here again, though the price to the community is maintained much above the prices of other countries, no one person connected with raising the produce can command a higher rate of profit, or higher wages for labour, than other trades having no protection whatever; for if they did, competition would soon reduce them to the same level; but, on the contrary, the wages, of agricultural labourers, and the profits of farmers, are always rather below than above the common rate, and simply from this fact, that the children of farm labourers, and of farmers, who first naturally look to the pursuits of their parents for a trade or occupation, increase in numbers without any corresponding extension of the means of employment, and the competition among them is therefore always greater than in other trades which have the power of extension; and the vicissitudes to which the farmer is exposed are notoriously greater than any other trade. His rent and expenses throughout are fixed by an artificial price of produce, which price can only be maintained as long as a certain scarcity exists; but the moment the markets are plentifully supplied, either from a want of demand owing to a depression of trade, or from the result of a good harvest, he finds that plenty takes out of his hand all control of price, which quickly sinks to the natural rate.

With a free trade the farmer would never be exposed to such reverses. In that state, if the demand and price increased, it would be checked by an increase of imports from other countries; if the demand and price diminished, that would also be checked by a reduction or cessation of the usual imports, and, if necessary, by an export of any surplus which pressed upon the market;--and, if our space allowed, it would not be difficult to show that, with prices at the natural rate, all parties connected with land would not only be in a safer but a much better condition.

No cautious man who well understands the subject will ever hazard his capital in any trade exposed to so many evils and to so much uncertainty as restriction and protection infallibly introduce into it:--but the great error which misleads all men in cherishing such trades is, that they mistake _high prices_ for _high profits_, which usually, instead of being synonymous terms, are quite the reverse.

AGRICULTURE.

No. II.

ON THE INDICATIONS WHICH ARE GUIDES IN JUDGING OF THE FERTILITY OR BARRENNESS OF THE SOIL.

BY THE REV. WILLIAM THORP.

(_Continued from No. 2._)

These three signs, viz., colour, consistence, and vegetation, are named by the Royal Agricultural Society as being pre-eminently indications of the value of lands; yet there are others of equal if not of greater consequence. For example:--

_A knowledge of the geology of the land_ is of the first importance; that is, not only a knowledge of the range and extent of each formation and its subdivisions, which may be called geographical geology, but also how far and to what extent the various lands do depend upon the substratum for their soil, and the local variations in the chemical or mineralogical character of the substrata themselves, and which may be called the differential geology of soils. For not only do the qualities of land vary from one formation to another, but upon the same formation there is frequently considerable difference in the quality of land depending upon chemical difference in the substratum, or upon an intermixture of foreign debris derived from other strata.

_A chemical investigation_ of the soil and subsoil will frequently afford most useful indications respecting the value of land. It may be laid down as an axiom that a soil to be fertile must contain all the chemical ingredients which a plant can only obtain from the soil, and chemistry ought to be able to inform us in unproductive soils what ingredients are wanting. It also is able to inform us if any poisonous substance exists in the soil, and how it may be neutralized; when lime, marl, and chalk are to be used, &c.[1]

The Royal Agricultural Society say that chemistry is unable to explain the productiveness of soils. But why is it unable? One reason is, that supposing everything required by the plant to be present in the soil, yet if the soil be either too wet, or too dry, too cohesive, or loose, the plant will not flourish; and chemical analysis does not declare this, for it affords no information respecting the mechanical division in which substances exist in the soil. Again, the chemical analysis of soils, to be worth anything, must be conducted with more rigid accuracy than those published by English writers. To detect one cwt. of gypsum in an acre there would be only one quarter of a grain in a pound of soil, or in 100 grains only three and a half thousandth of a grain (35/10000 or,00035 grs.), or to discover if sufficient alumina existed in a field for the production of red clover there must be ascertained if it contained (one hundred thousandth),00001 per cent. The analyses even by Sprengel do not afford us the quantity of nitrogen in each soil, or the capacity of the soil for this substance; while it is well known that most manures, as well as the different kinds of food, are valuable in proportion to the quantity contained by them, and it is highly probable, _ceteris paribus_, that the quantity of nitrogen found existing in soil, and the soil's capacity for containing that substance, would afford an easy indication of its immediate fertility, and also of its requiring great or small quantities of nitrogenous manures in its future cultivation.[2]

Chemistry, however, outsteps her province when it is attempted to explain how vegetable productions are formed in the plants by chemical forces; for the recent discoveries of Schwann, Henle, and Schleiden, prove that all the functions of the plant are performed by the means of simple vesicles and cells--that absorption, assimilation, fixation of carbon from the atmosphere, respiration, exhalation, secretion, and reproduction are all effected by single cells, of which the lower plants almost entirely consist--that the cell absorbs alimentary matters through the spongioles of the root, and that the fluid received thus undergoes the first steps of the organizing process--that the inorganic elements are changed into the simplest proximate principles by cells--so also are the further changes into the regular secretions of the plant, the result of cell-life--that gum and sugar are converted into the organizable portion of the nutritious sap by the cells of the leaves. The starchy fluid in the grains of corn is rendered capable of nutrition to the embryo by the development of successive generations of cells, which exert upon it their peculiar vitalizing influence. Albumen is converted into fibrine by the vital agency of cell life--_i.e._, cells are produced which do not form an integral part of any permanent structure in the plant, but which, after attaining a certain maturity, reproduce themselves and disappear; hence it may be stated that all the vegetable productions which are formed in the plant are effected by a series of vital actions through the agency of cells.

From the different transformations which these undergo all the different tissues in vegetables are formed; for instance, the spiral and dotted ducts, woody fibre, and so on. Schwann showed that the formation of tissues in animals went through exactly the same progress, a fact which has been confirmed by the microscopic observations of Valentin and Barry. Thus vessels, glands, the brain, nerves, muscles, and even bones and teeth are all formed from metamorphosed cells. Dr Bennett says--"If this be true, and there can be little doubt, it obliges us to modify our notions of organization and life. It compels us to confess that vegetables and animals are not simple beings, but composed of a greater or less number of individuals, of which thousands may exist in a mass not larger than a grain of sand, each having a vital centre and separate life, independent of those around it. Each of these individuals, or organized cells, should be regarded as a living being, which has its particular vital centre of absorption, assimilation, and growth, and which continues to vegetate, to increase, and undergo transformations as if it were an isolated individual. At all events, a knowledge of the existence of the cell-life of plants will explain several phenomena respecting the vegetation, growth, and ripening of corn, and may hereafter lead to some valuable practical results."

_The climate, elevation, and exposure_ are not to be neglected. Upon the higher portions of the Wolds crops suffer, much from elevation and exposure, while in the western portion of Yorkshire, upon the moor edges, the harvest is usually a month later than in the central parts of the island.

_A moderate depth_ of soil in general is a favourable sign, although some of shallow soils on the new red sandstone and on the Wolds are very good; to these signs are to be added locality, as respects markets, facilities of obtaining a supply of lime, or other tillage, the rates and outpayments peculiar to the district, &c. &c., all of which are to be taken into account when considering the value of any particular farm.

I shall now briefly apply these indications of fertility over the different geological formations of Yorkshire, and it will be found that each lends aid to the other, and that a person will be able to ascertain the value of land in proportion as he is able to appreciate the collective evidence afforded by them.

(_To be continued._)

[1] Mr Brakenridge, of Bretton Lodge, who has extensive practice in land valuing, informs me that a mechanical analysis of the soil affords him much assistance; and he has found that in soils, whenever free from stagnant water, that in a mechanical analysis the larger the proportion which remains suspended in the water, the greater its powers of production will be found, and the less manure it will require. That the best soils are those which, when diffused and well stirred in water and allowed to stand for three minutes, from 20 to 30, say 25, per cent. is carried off with the water of decantation. When 30 per cent. and upwards is decanted off, the soil becomes retentive of water and consequently wet. When less than 20 per cent., say only 16 per cent. and under, is carried off, it becomes too porous; water passes through it too rapidly; its soluble matter is washed off into the substratum, and it has a strong tendency to become thin and sterile.

[2] The celebrated black earth of Russia contains 2,45 per cent. of nitrogen.

COURT AND ARISTOCRACY.

The Queen and Prince Albert, on their return on Thursday week from the Chateau d'Eu, were accompanied by the Prince de Joinville, who remained to dine with the Royal party, and then returned in the evening on board his yacht, for the coast of France. After a few days' repose, her Majesty and the Prince started on another marine excursion. They sailed from Brighton on Tuesday morning, passed Dover, and arrived off Deal about three o'clock, where the Royal yacht anchored, in order to receive the Duke of Wellington, who came from Walmer Castle, and dined with her Majesty on board, a large number of vessels, gaily decked with flags, as well as crowds on shore, giving animation to the scene. The Duke remained with her Majesty and Prince Albert upwards of two hours, and during the time he was on board, the wind, which throughout the day had been blowing rather fresh from the northward and eastward, had considerably increased, and her Majesty, upon the Duke's taking his leave, evinced very great anxiety respecting the safe landing of his Grace. Everybody who knows this coast is aware that when the wind is blowing at all from the eastward that there is a very heavy surf on the beach, and consequently great difficulty in landing. His Grace, however, on thanking her Majesty for the concern she evinced on his account, made light of the matter, and returned on board the _Ariel_, which brought him as near the shore as possible; here he got into the barge and rowed towards the beach. The swell was too great to admit of his landing at the pier, from which he had started, and the boat was pulled towards the naval yard, where the surf was not so great as at any other part of the shore. Here the Duke landed, but not without a thorough drenching, for no sooner had the bows of the boat touched the shore than a heavy sea broke right over her stern, and completely saturated his Grace's apparel. The Duke, upon landing, all wet as he was, immediately mounted his horse, and rode off to Walmer Castle. A numerous assemblage of persons had congregated on the beach when the Duke came on shore, and loudly and enthusiastically cheered him.

At an early hour on Wednesday morning the squadron got their steam up, and made preparations for taking their departure. The weather had moderated, and the day was fine. About seven o'clock the Royal yacht got under way, and stood out to sea, and was followed by the other steamers, and also by the _Penelope_, which had been ordered to form one of the Royal squadron.

About two o'clock on Wednesday the Royal yacht entered the port of Ostend, taking the authorities somewhat by surprise, who did not expect it quite so soon. The King and Queen of Belgium, and the official personages of Ostend, were, however, on the pier to await the landing; and the populace displayed the most lively enthusiasm. In the evening there was a grand banquet at the Hotel de Ville, and Ostend was brilliantly illuminated, in a style far surpassing ordinary occasions.

THE KING OF HANOVER.--A correspondent writes that his Majesty, while in conversation with a noble friend, expressed the determination, should Divine Providence spare him health, to visit this country again next summer, and he purposed then to come earlier in the season.

VISIT OF THE REGENT OF SPAIN TO GREENWICH HOSPITAL.--On Wednesday, about twelve o'clock, General Espartero paid a visit to the Royal Hospital at Greenwich.

Sir Robert Peel arrived in town by the London and Birmingham Railway on Saturday afternoon, from his seat, Drayton Manor, Staffordshire, and immediately proceeded from the Euston-square terminus to the residence of the Earl of Aberdeen, in Argyll street, to pay a visit to his lordship. Soon, after the arrival of the Right Hon. Baronet, Sir James Graham arrived in Argyll street from the Home office, and had an interview with Sir Robert Peel.

Sir R. Peel left his colleagues at a quarter-past four o'clock for the terminus at London bridge, and travelled by the London and Brighton Railway to Brighton, to dine with her Majesty and Prince Albert, remaining at the Pavilion, on a visit to her Majesty.

MUSIC AND MUSICALES.

MANCHESTER MUSICAL FESTIVAL.--This great festival--one of the greatest and finest musical events that ever occurred in Manchester--was held in the magnificent hall of the Anti-Corn-law League, the length of which is 135 feet, the breadth 102 feet, inclosing an area of about 14,000 square feet. The services of all our principal vocal artists were secured. The _soprani_ were Miss Clara Novello and Miss Rainforth; the _alto_ or _mezzo soprano_, Mrs Alfred Shaw; the _tenori_, Mr Braham and Mr James Bennett; and the _basso_, Mr Henry Phillips. The choir was the most complete and efficient one ever collected in Manchester, and consisted of nearly the whole of the vocal members of the Manchester Choral Society and the Hargreaves Choral Society, with some valuable additions from the choirs of Bury and other neighbouring towns, and from gentlemen amateurs, conversant with Handel. The _Messiah_ was the performance of Monday night; and, on the whole, was executed in a style worthy of that great work of art, the conductor being Sir Henry Bishop, who wore his robes as a musical bachelor of the University of Oxford. On Tuesday there was a grand miscellaneous concert, the hall being even more numerously attended than on the preceding evening, there not being fewer than 3,500 persons present. This went off with very great satisfaction to the very numerous auditory; and the _Manchester Guardian_ says, "As to the general impression produced by this festival, we believe we do not err in saying that there is but one opinion,--that it has been throughout an eminently successful experiment. Sir Henry Bishop, we understand, said that he never heard choruses sung with better effect in his life; and that he considered the festival, as a musical performance, most creditable to every one connected with it. As to the capabilities of the hall for singing, we are informed that Miss Clara Novello has declared that she never sang with more ease in any place in her life; and we think the ease with which she did sing was obvious to all who could see her countenance. We have asked many persons who sat in different parts of the hall, especially in distant corners, and all concur in saying that they heard most distinctly Miss Novello's softest and faintest notes."

MUSICAL INTELLIGENCE.--Rubini is about to establish an opera at St Petersburg, and has engaged his old colleague, Tamburini, to assist him in the enterprize. He has also engaged Signor Pisani, a young tenor of great promise. Lablache will not appear at the opening of the Italian Opera in Paris. He has gone to Naples, where he will remain for two months, and where he is to be joined by his son-in-law, Thalberg. A grand musical festival, which was to have taken place in Paris on Thursday next, has been postponed till the beginning of October. It is said that this festival will rival those of Germany in splendour.