intended to be protected. But look at the very opposite position in which the owners of land stood. He would suppose that a law could be passed to raise the price of wheat to a thousand shillings a bushel; now what would be the effect of this, but that the capitalists who now get their ten per cent, profit in London or Manchester would immediately urge their sons to bid fifty per cent, over the farmers of Norfolk, and if these were still in the way of getting higher profits than other trades, then other competitors would appear to bid fifty per cent, over them, until Mr. Coke's farms had reached the full market price, and yielded only the ordinary rate of profit of all other trades.(Hear, hear.) But mark the difference in the situation of the landowner and the calico printer; while additional mills and print works might be erected to meet the demand for calicoes and prints, not an acre of land could be added to the present domains of the aristocracy, and, therefore, every shilling of protection on corn must pass into the pockets of the landowners, without at all benefiting the tenant or the agricultural labourer; whereas, on the other hand, no extent of protection could possibly benefit the manufacturer."
Mr. Cobden's speech was rendered the more telling by the description of what he had observed, during his recent tour on the continent, of the effect of our Corn Laws in encouraging the establishment of rival manufactures. After entreating his hearers not to suffer themselves to be deluded by any other plan which the aristocracy might, with a view to lead them upon a wrong descent, propose to do, whether by war or diplomacy, to benefit trade; but exhorting them to keep a steady eye on the Corn Law, which was the real and only obstacle to a steady and a large increase of their trade, he concluded by proposing, if it met the views of the directors, to offer a resolution, without at all meaning any disrespect to them, that the chamber should meet again, on the following week, to pass a
