On 1 April the Select Committee which had been appointed in February to enquire into the state of agriculture brought in its report. This revealed that the Committee had taken an unfavourable view of suggestions that the government itself might buy and store corn or that it should make loans to local authorities for that purpose. However as a measure of temporary relief it envisaged the possibility of loans to rural producers on the security of corn held in store. The loans could be made whenever the market price of grain was less than 60s. per quarter. The rate of interest would be three per cent, the maximum duration twelve months, and the maximum amount two-thirds of the current market value of the corn.
KeywordsPolitical Economy Indirect Taxation Rural Sector Select Committee Secondary Industry
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- 28.Ibid., 402–14. Lethbridge (1778–1849) represented Somerset, 1806–12 and 1820–30. Burdett (1770–1844) was a prominent member of the Westminster rump. In the Commons 1796–1844 he represented Westminster for thirty years during that period. See M. W. Patterson, Sir Francis Burdett and his Times, 1770–1844 ( London: Macmillan, 1931 ).Google Scholar
- 35.William Whitmore published A Letter on the Present State and Future Prospects of Agriculture (London, 1822).Google Scholar