Social England : a record of the progress of the people in religion, laws, learning, arts, industry, commerce, science, literature and manners, from the earliest times to the present day . ble increase of imports. In 1845 the total receipts of wheat,including fiour in wheat equivalents, amounted to 1,141,957quarters; in 1846 the quantity was 2,344,142 quarters; and in1847 it rose to 4,404,757 quarters. All other kinds of grain andmeal amounted to 1,287,959 quarters in the year preceding therepeal of the corn laws, to 2,408,032 quarters in that year, andto 7,449,107 quarters in 1847. Apparently
Social England : a record of the progress of the people in religion, laws, learning, arts, industry, commerce, science, literature and manners, from the earliest times to the present day . ble increase of imports. In 1845 the total receipts of wheat,including fiour in wheat equivalents, amounted to 1,141,957quarters; in 1846 the quantity was 2,344,142 quarters; and in1847 it rose to 4,404,757 quarters. All other kinds of grain andmeal amounted to 1,287,959 quarters in the year preceding therepeal of the corn laws, to 2,408,032 quarters in that year, andto 7,449,107 quarters in 1847. Apparently these imports werem excess of the national requirements, for they v/ere reducedabout 45 per cent, in 1848, although there was another deficientharvest in that year; and yet the prices of corn fell to 50s. quarter for wheat. 31s. 6d. for barley, and 20s. 6d. for it was not imtil 1849 that prices declined to the extentwhich had been expected as the result of Free Trade, and thencommenced a period of depression which caused agriculturists These prices are averages for each In the week ending Maj SI, 1847,the average was as high as 102s., but speedily 470 THE RULE OF THE MIDDLE CLASS. t1846 to fear thai their uiost gloomy predictions were about to berealised. Owing in great measure to the collapse of the mad railwayspeculation in 1<S47 (pp. 811, 489), a serious commei-cial crisisoccurred in that year, and trade was in a prostrate condition fornearly five years longer. The prices of corn, it has been shown,ke]5t up fairly until 1849, in which year wheat fell to an averageof 44s. 3d. per quarter, barley to 27s. 9d., and oats to 17s. was a further fall in 1850, and for wheat the minimum of88s. 6d. was reached in , by which time a recovery had setin for barley and oats. The annual average Ylice of wheat hadnot been so low before during the century, and that of barleyhad only once before been so low, while oats had not once beenas che
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