Sir Robert Peel came into power in 1841, the Russell Whig ministry
having failed to satisfy the country in regard to financial questions.
There had been an annual deficit, and the distress of both the
agricultural and manufacturing classes was alarming. The new premier
proceeded with caution in the adoption of measures to relieve the
burdens of the people and straighten out the finances, which were in
great disorder. His first measure had reference to the corn laws, for
the price of food in England was greater than in other European
countries. He finally proposed to the assembled Parliament, in 1842, to
make an essential alteration in the duties; and instead of a fixed duty
he introduced a sliding scale, by which the duty on corn should be
thirteen shillings a quarter[2] when the price was under sixty
shillings, increasing the duty in proportion as the price should fall,
and decreasing it as the price should rise,--so that when the price of
corn was under fifty shillings the duty should be fixed at twenty
shillings, and when the price was above seventy-three the duty should be
only a shilling a quarter. This plan, after animated discussion, was
approved; for although protection still was continued, the tendency of
the measure was towards free-trade, for which the reformers were
clamoring. Notwithstanding this measure, which was triumphantly carried
through both Houses, the prevailing distress continued, and the revenue
was steadily diminishing. To provide revenue, Peel introduced an income
tax of seven pence in the pound, to stand for three years; and to offset
that again lowered the import duties on domestic animals, dairy
products, other articles of food, and some drugs.

[Footnote 2: "The fourth of a ton in weight, or eight bushels of
grain."]