216

LIF® OF COBDEN.,

[omaP-1842.

 his death, exactly what happened during the autumn of
&r. 88. 1841. In conformity with his general practice, he brought
the subject under the consideration of his colleagues if
written memoranda. These memoranda, he said, afforded
the best opportunity for mature consideration of facts and
arguments, and were most effectual against misconstruction
and hasty, inconsiderate decision. In them he now pointed
out with unanswerable force the evils of the existing system-He
 dwelt more especially on the violent fluctuations in the
corn duty, and the consequent derangements and unsteadiness
 of the markets. He showed how little the duties oP
importation could do towards keeping up a permanent high
price. All that law could effect was to provide that, 50
long as corn grown in this country should not exceed a cerlain
 price, there should be no serious danger from competi
lion with corn grown in other countries. What was that
price? The law of 1815 had assumed that wheat could not
be profitably grown at a lower price than eighty shillings &
Juarter. Events had shown that this was absurd ; the aver
ages of a number of years came to fifty-six shillings. It
seemed wise, then, so to readjust the machinery of the
sliding scale as to tend to secure that price.
The Duke of Buckingham, whose name figures so often if
the sarcasms and invectives of the League, at once resigned
his seat in the Cabinet rather than be a party to any med:
dling with the Corn Law of 1828. Even those who remained;
seem to have pressed for an understanding, as was after
wards openly done in Parliament, that whatever amount of
protection was set up by the new law should be permanently
adhered to. This guarantee, Peel was far too conscientious
to consent in any form to give. The Cabinet at length, with
many misgivings, assented to their chief’s arguments, ané
for the time the party was saved.

t Memoirs, ii. 26.