108 LAISSEZ FAIRE 
A.D. 1776 
—1850. 
/ food 
rom 
.he relative advantage of organised import on the part of 
the government?, or of leaving the matter in the hands of 
private traders acting under the stimulus of a bounty? and it 
is needless to say that the latter course was preferred. At 
the same time, attention was given to the possibility of intro- 
ducing rice®. maize*, or other food stuffs from abroad, and to 
August and September, about 85,000 barrels; which, added to the importation 
‘rom America, will amount to 105,000 barrels.” Reports, IX. p. 126. 
1 The Committee in 1795 * proceeded to enquire what measures, in the judg. 
nent of these persons, afforded the best probability of obtaining such a supply. 
They thought it right to bring distinctly under their consideration the alternative 
sf leaving the whole care of such purchases to the Executive Government, who 
would (it was conceived) be in such case the only purchasers, and be publicly 
known to be so; or of leaving the same to the speculation of individual merchants, 
sncouraged by a liberal bounty on importation, and by a public declaration on the 
sart of Government (as soon as such declaration shall be practicable) of the 
juentity which they may then have at their disposal, in consequence of former 
srders, and of their intention to give no further orders for the purchase of Corn, 
and to sell what may have been procured in limited quantities, and at the market 
price. It appeared to Your Committee to be the preponderant opinion amongst 
those persons to whom this alternative was stated, that, upon the whole, the 
restoration of the trade in Corn to its natural channel, with the additional 
sncouragement of a bounty, was the most eligible mode of endeavouring to 
srocure from foreign parts, such supplies as those markets might be found able to 
tarnish, Your Committee were further confirmed in this opinion by the informa- 
lion they received from some of their Members, that there were merchants who 
uad stated to them their readiness, under those circumstances, to engage in 
speculations to a large extent. After a full consideration and discussion of this 
important point, Your Committee were of opinion, ‘ That it was expedient for the 
Executive Government to desist from making any further purchases of Corn; and 
that a bounty should be granted upon the importation of certain sorts of Grain 
mto this country, for the encouragement of private speculation’. Reports, IX. p. 45. 
1 The payments were considerable, and at least brought temporary relief. The 
Committee on Waste Lands point out * that the bounties paid on grain imported 
for one year ending sth of January 1797, amounted to no less a sum than 
£573,418. 43. 9d., a sum borrowed under all the disadvantages of raising money in 
ime of war....It is impossible here not to remark an unfortunate prejudice which 
exists, regarding the expenditure of any part of the public income in promoting 
the improvement of the country. The sum above-mentioned was paid out of the 
public treasury by bounty or premium on foreign Corn imported. Had any person 
proposed to lay out that sum, or even one year’s interest thereof, in promoting 
cultivation at home, in defraying the expence of private Acts of Inclosure, or 
removing other obstacles to improvement, it would have been considered an extra- 
ordinary proposition, hardly entitled to serious consideration. But let that money 
be sent out of the country, or let it be expended in promoting foreign agriculture 
and extraneous improvements, and it is immediately held forth as a wise and 
provident application of the treasure of the Public.” Reports. IX. D. 224. 
$8 Reports, IX. 92. 
4 «The Importation of Indian Corn has also been encouraged by the prospect 
£ a liberal bounty. The excellence of that grain, as the food of man, cannot be