...we had also the somewhat dismal compensation of higher prices; but now, when the harvests are bad the prices are lower rather than higher... nor is it open to doubt that foreign competition has exercised a most injurious influence on the agricultural interests of the country. The country, however, was perfectly warned that if we made a great revolution in our industrial system, that was one of the consequences that would accrue. I may mention that the great result of the returns we possess is this, that the immense importations of foreign agricultural produce have been vastly in excess of what the increased demands of our population actually require, and that is why the low prices are maintained... That is to a great degree the cause of this depression.

Benjamin Disraeli

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