the feeding of cattle, and where the wool and the hide made the principal part of the value of those cattle. Their interest as landlords and farmers would in this case be very deeply affected by such regulations, and their interest as consumers very little. The fall in the price of wool and the hide would not in this case raise the price of the carcase, because the greater part of the lands of the country being applicable to no other purpose but the feeding of cattle, the same number would still continue to be fed.

The same quantity of butcher’s meat would still come to market. The demand for it would be no greater than before. Its price, therefore, would be the same as before. The whole price of cattle would fall, and along with it both the rent and the profit of all those lands of which cattle was the principal