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supply it being generally afraid lest their goods should be left
upon their hands。 The prohibition of exportation limits the
improvement and cultivation of the country to what the supply of
its own inhabitants requires。 The freedom of exportation enables
it to extend cultivation for the supply of foreign nations。
By the 12th of Charles II； c。 4； the exportation of corn was
permitted whenever the price of wheat did not exceed forty
shillings the quarter； and that of other grain in proportion。 By
the 15th of the same prince； this liberty was extended till the
price of wheat exceeded forty…eight shillings the quarter； and by
the 22nd； to all higher prices。 A poundage； indeed； was to be
paid to the king upon such exportation。 But all grain was rated
so low in the book of rates that this poundage amounted only upon
wheat to a shilling； upon oats to fourpence； and upon all other
grain to sixpence the quarter。 By the 1st of William and Mary；
the act which established the bounty； this small duty was
virtually taken off whenever the price of wheat did not exceed；
forty…eight shillings the quarter； and by the 11th and l2th of
William III； c。 20； it was expressly taken off at all higher
prices。
The trade of the merchant exporter was； in this manner； not
only encouraged by a bounty； but rendered much more free than
that of the inland dealer。 By the last of these statutes； corn
could be engrossed at any price for exportation； but it could not
be engrossed for inland sale except when the price did not exceed
forty…eight shillings the quarter。 The interest of the inland
dealer； however； it has already been shown； can never be opposite
to that of the great body of the people。 That of the merchant
exporter may； and in fact sometimes is。 If； while his own country
labours under a dearth； a neighbouring country should be
afflicted with a famine； it might be his interest to carry corn
to the latter country in such quantities as might very much
aggravate the calamities of the dearth。 The plentiful supply of
the home market was not the direct object of those statutes； but；
under the pretence of encouraging agriculture； to raise the money
price of corn as high as possible； and thereby to occasion； as
much as possible； a constant dearth in the home market。 By the
discouragement of importation； the supply of that market； even in
times of great scarcity； was confined to the home growth； and by
the encouragement of exportation； when the price was so high as
forty…eight shillings the quarter； that market was not； even in
times of considerable scarcity； allowed to enjoy the whole of
that growth。 The temporary laws； prohibiting for a limited time
the exportation of corn； and taking off for a limited time the
duties upon its importation； expedients to which Great Britain
has been obliged so frequently to have recourse； sufficiently
demonstrate the impropriety of her general system。 Had that
system been good； she would not so frequently have been reduced
to the necessity of departing from it。
Were all nations to follow the liberal system of free
exportation and free importation； the different states into which
a great continent was divided would so far resemble the different
provinces of a great empire。 As among the different provinces of
a great empire the freedom of the inland trade appears； both from
reason and experience； not only the best palliative of a dearth；
but the most effectual preventative of a famine； so would the
freedom of the exportation and importation trade be among the
different states into which a great continent was divided。 The
larger the continent； the easier the communication through all
the different parts of it； both by land and by water； the less
would any one particular part of it ever be exposed to either of
these calamities； the scarcity of any one country being more
likely to be relieved by the plenty of some other。 But very few
countries have entirely adopted this liberal system。 The freedom
of the corn trade is almost everywhere more or less restrained；
and； in many countries； is confined by such absurd regulations as
frequently aggravate the unavoidable misfortune of a dearth into
the dreadful calamity of a famine。 The demand of such countries
for corn may frequently become so great and so urgent that a
small state in their neighbourhood； which happened at the same
time to be labouring under some degree of dearth； could not
venture to supply them without exposing itself to the like
dreadful calamity。 The very bad policy of one country may thus
render it in some measure dangerous and imprudent to establish
what would otherwise be the best policy in another。 The unlimited
freedom of exportation； however； would be much less dangerous in
great states； in which the growth being much greater； the supply
could seldom be much affected by any quantity of corn that was
likely to be exported。 In a Swiss canton； or in some of the
little states of Italy； it may perhaps sometimes be necessary to
restrain the exportation of corn。 In such great countries as
France or England it scarce ever can。 To hinder； besides； the
farmer from sending his goods at all times to the best market is
evidently to sacrifice the ordinary laws of justice to an idea of
public utility； to a sort of reasons of state； an act of
legislative authority which ought to be exercised only； which can
be pardoned only in cases of the most urgent necessity。 The price
at which the exportation of corn is prohibited； if it is ever to
be prohibited； ought always to be a very high price。
The laws concerning corn may everywhere be compared to the
laws concerning religion。 The people feel themselves so much
interested in what relates either of their subsistence in this
life； or to their happiness in a life to come； that government
must yield to their prejudices； and； in order to preserve the
public tranquillity； establish that system which they approve of。
It is upon this account； perhaps； that we so seldom find a
reasonable system established with regard to either of those two
capital objects。
IV。 The trade of the merchant carrier； or of the importer of
foreign corn in order to export it again； contributes to the
plentiful supply of the home market。 It is not indeed the direct
purpose of his trade to sell his corn there。 But he will
generally be willing to do so； and even for a good deal less
money than he might expect in a foreign market； because he saves
in this manner the expense of loading and unloading； of freight
and insurance。 The inhabitants of the country which； by means of
the carrying trade； becomes the magazine and storehouse for the
supply of other countries can very seldom be in want themselves。
Though the carrying trade might thus contribute to reduce the
average money price of corn in the home market； it would not
thereby lower its real value。 It would only raise somewhat the
real value of silver。
The carrying trade was in effect prohibited in Great
Britain； upon all ordinary occasions； by the high duties upon the
im