ThebountyupontheexportationofcornnecessarilyoperatesexactlyinthesamewayasthisabsurdpolicyofSpainandPortugal。Whateverbetheactualstateoftillage，itrendersourcornsomewhatdearerinthehomemarketthanitotherwisewouldbeinthatstate，andsomewhatcheaperintheforeign;andastheaveragemoneypriceofcornregulatesmoreorlessthatofallothercommodities，itlowersthevalueofsilverconsiderablyintheone，andtendstoraiseitalittleintheother。Itenablesforeigners，theDutchinparticular，notonlytoeatourcorncheaperthantheyotherwisecoulddo，butsometimestoeatitcheaperthanevenourownpeoplecandouponthesameoccasions，asweareassuredbyanexcellentauthority，thatofSirMatthewDecker。Ithindersourownworkmenfromfurnishingtheirgoodsforsosmallaquantityofsilverastheyotherwisemightdo;andenablestheDutchtofurnishtheirsforasmaller。Ittendstorenderourmanufacturessomewhatdearerineverymarket，andtheirssomewhatcheaperthantheyotherwisewouldbe，andconsequentlytogivetheirindustryadoubleadvantageoverourown。
Thebounty，asitraisesinthehomemarketnotsomuchtherealasthenominalpriceofourcorn，asitaugments，notthequantityoflabourwhichacertainquantityofcorncanmaintainandemploybutonlythequantityofsilverwhichitwillexchangefor，itdiscouragesourmanufactures，withoutrenderinganyconsiderableserviceeithertoourfarmersorcountrygentlemen。
Itputs，indeed，alittlemoremoneyintothepocketsofboth，anditwillperhapsbesomewhatdifficulttopersuadethegreaterpartofthemthatthisisnotrenderingthemaveryconsiderableservice。Butifthismoneysinksinitsvalue，inthequantityoflabour，provisions，andhomemadecommoditiesofalldifferentkindswhichitiscapableofpurchasingasmuchasitrisesinitsquantity，theservicewillbelittlemorethannominalandimaginary。
Thereis，perhaps，butonesetofmeninthewholecommonwealthtowhomthebountyeitherwasorcouldbeessentiallyserviceable。Thesewerethecornmerchants，theexportersandimportersofcorn。Inyearsofplentythebountynecessarilyoccasionedagreaterexportationthanwouldotherwisehavetakenplace;andbyhinderingtheplentyofoneyearfromrelievingthescarcityofanother，itoccasionedinyearsofscarcityagreaterimportationthanwouldotherwisehavebeennecessary。Itincreasedthebusinessofthecornmerchantinboth;andinyearsofscarcity，itnotonlyenabledhimtoimportagreaterquantity，buttosellitforabetterprice，andconsequentlywithagreaterprofitthanhecouldotherwisehavemade，iftheplentyofoneyearhadnotbeenmoreorlesshinderedfromrelievingthescarcityofanother。Itisinthissetofmen，accordingly，thatIhaveobservedthegreatestzealforthecontinuanceorrenewalofthebounty。
Ourcountrygentlemen，whentheyimposedthehighdutiesupontheimportationofforeigncorn，whichintimesofmoderateplentyamounttoaprohibition，andwhentheyestablishedthebounty，seemtohaveimitatedtheconductofourmanufacturers。