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TIMBER DUTIES BILL 16 April 1821 - David Ricardo, The Works and Correspondence of David Ricardo, Vol. 5 Speeches and Evidence [1819]

Edition used:

The Works and Correspondence of David Ricardo, ed. Piero Sraffa with the Collaboration of M.H. Dobb (Indianapolis: Liberty Fund, 2005). Vol. 5 Speeches and Evidence 1815-1823.

Part of: The Works and Correspondence of David Ricardo, 11 vols (Sraffa ed.)

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Liberty Fund, Inc. is a private, educational foundation established to encourage the study of the ideal of a society of free and responsible individuals.


TIMBER DUTIES BILL
16 April 1821

[See above, p. 102.] Mr. J. P. Grant moved as an amendment that the drawback allowed on Russian timber be repealed. Mr. Wallace opposed the amendment because the effect of such a measure would be to give Norway the monopoly of the trade.

Mr. Ricardo1 was much surprised at the course of argument adopted upon this question. Norway was said to be benefitted by the new arrangement, merely because she had before suffered a still greater injustice than it was now proposed to inflict upon her. The proposition made by his learned friend went only to place Russia and Norway, as respected the importation of their timber and deals, on the same footing; yet this had been described by the right hon. gentleman, as giving a monopoly to Norway; and it had been contended that such a regulation would cause a proportionate rise in the price of Norwegian timber. Now, a slight degree of attention must convince every one, that the higher the price of Norwegian timber rose, the more able must Russia be to compete effectually with Norway. It was contended, that the interest of the producer ought to be looked to, as well as that of the consumer, in legislative principles. But the fact was, that in attending to the interest of the consumer, protection was at the same time extended to all other classes. The true way of encouraging production was to discover and open facilities to consumption. An hon. gentleman2 had observed, that timber of a superior quality might be had by those who chose to pay a higher price, and that there was therefore no compulsion on the purchaser. But it was a little too much to raise the price of the best article by means of import duties, and then tell the consumer that he was not obliged to buy the cheap and inferior one. The practical effect of these duties was to raise as much compulsion as could be introduced into commercial affairs.

The amendment was negatived.

[1 ]Ricardo wrote to Trower that this debate was briefly and badly reported in the newspapers (see below, VIII, 371). Hansard’s report is uniform with The Times’s; the Morning Chronicle gives no report of Ricardo’s speech.

[2 ]Mr. Marryat.