MR. BAILLIEwished to put a question to the noble Lord relative to the state of the corn markets. The noble Lord was probably aware that the Ministry of Belgium had prohibited for some time past the exportation of corn from that country; that both French and Belgian agents had been in England making very large purchases of corn; and, that it was anticipated, if these purchases continued to be made, prices would be very much enhanced, and scarcity would ensue. What he wished to know from the noble Lord was, would Her Majesty's Government feel themselves called upon in self-defence to prohibit the exportation of corn from our ports?
LORD J. RUSSELLThe hon. Gentleman has asked me a question on a very important subject without giving me any notice that he had such an intention. I will, however, at once tell him what is the general intention of the Government on this subject. We are perfectly aware that there is a great demand for corn in France and Belgium, and that prices are rising and are likely to continue to rise in those countries; but we are of opinion, generally speaking, that to prohibit the exportation of corn is a direct mode of preventing corn being brought into this country. We think that, in the case of an importing merchant, if he have a security that he can import his corn here, either for consumption here, or, if he should think proper, to take it afterwards to another market, he will have every inducement to bring it here. We consider, on the other hand, that if he is told if it once comes here it cannot be taken away again, we shall drive him to avoid a market where his corn would be thus locked up, and import it to some other market.