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the factors’ quotations during the next two weeks, 
note a decline of 2s. per quarter only, the averages 
show a fall of 13s. per quarter in the same space of 
‘ime, affording tolerable clear evidence that they had 
been tampered with, to a very considerable extent. 
Having thus explained the actual practice under 
the present system, and, I think, shown the fallacy 
of the practice, in comparison with the correct in- 
tentions of the. theory of the sliding scale, the evils 
arising from it will be easily understood. 
The farmer is not protected by it, as it is clearly 
in the power of the merchants, by co-operation, to 
defeat the intended protection, by inundating the 
market with an immense quantity of foreign corn, at 
a duty of Is., or 2s. 84., per quarter, which is almost 
equivalent to a free trade. 
The consumer suffers, from having the price of 
wheat forced up unnaturally, to a higher rate than it 
would otherwise attain, during these operations ; and 
also by having the supply of foreign corn, intended 
to relieve him, withheld for a longer period—as it 
naturally follows, the merchant will not pay a duty 
of 10s. 8d., or 6s. 8d., if he sees it is likely that, in 
three or four weeks, he will not be required to pay 
more than 2s. 8d. or 1s. per quarter. 
The revenue, it is equally clear, must suffer to the 
extent of the difference obtained by the merchant in 
the duty; and this, it will be seen, is no trifling 
amount, as, taking the difference in September, 1838, 
between 6s. 84. and 1s. to be bs. 8d. on the three 
million quarters which then paid duty, the revenue 
must have been injured to the extent of rather more 
than three quarters of a million. 
Another collateral evil, is the influence these work- 
ings produce indirectly on the money market, which