A.D. 1776 
— 1850. 
that of 
1773 was 
sntended 
bo secure 
a food 
supply, 
esther from 
home or 
abroad, at 
a steady 
price; 
LAISSEZ FAIRE 
of resolutions, which fundamentally changed the whole system 
of policy, in the hope that the constant tinkering, which had 
gone on in recent years, would no longer be necessary. His 
scheme, which was in its main features embodied in the Act 
of 1773, was an endeavour to keep the price of corn steady, 
at about 48s. the quarter, by giving facilities for importation 
duty free, when English corn was selling at a higher rate. 
As his speech explains, “ the end proposed by this Bill is 
that of creating an influx of bread corn for home consumption, 
in case of internal scarcity; and an aid to our foreign trade 
in case of our not having a quantity of corn adequate to 
that important and beneficial commerce. This purpose is 
conducted under such regulations as shall prevent any inter- 
ference with the landed interest. In other words (said he), 
if I may be permitted to use an allusion to natural operations, 
it means to introduce into our supply an additional stream, 
and to fix such a wear at such a height as shall always keep 
the internal supply equal, and no more than equal, to internal 
want, yet preserve a constant overflow for all the surplus, so 
as never on one hand to endanger the depression of the 
landed interest, nor on the other the loss of our foreign 
market for corn—by our not being able, as has been the case 
for several years past, to supply the demands of that foreign 
market—as it is hoped that this measure will be formed into 
a permanent law. It is meant by the provisions in the Bill 
formed for the carrying it into execution—that its operations 
may go on, as the state of things does actually and really 
require, not as the interests of designing men may wish and 
will them to go; that this commercial circulation of subsistence 
may flow through pools whose gates are to open and shut as 
the state of the droughts, and fioods, and tides may require, 
not to consist of sluice-doors which are to be locked up and 
opened by the partial hands and will of men.” 
This measure may be regarded as of the nature of a com- 
promise; in so far as they accepted it, the representatives 
of each of the historic parties departed from the traditional 
policy which was associated with Whigs and Tories re- 
spectively. The Whigs, who had been eager to encourage 
7121 
i 13 Geo. ITI. c. 43. 
8 Parl. Hist. Xvil. pp. 477-478.