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This degradation, both in the real and nominal value of wool,

could never have happened in consequence of the natural course of

things. It has accordingly been the effect of violence and

artifice. First, of the absolute prohibition of exporting wool

from England: secondly, of the permission of importing it from

Spain, duty free: thirdly, of the prohibition of exporting it

from Ireland to another country but England. In consequence of

these regulations, the market for English wool, instead of being

somewhat extended, in consequence of the improvement of England,

has been confined to the home market, where the wool of several

other countries is allowed to come into competition with it, and

where that of Ireland is forced into competition with it.