No one, I think, can deny that the depression of the agricultural interest is excessive. Though I can recall periods of suffering, none of them have ever equalled the present in its instances... [N]or 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.

What It Means

This is a placeholder explanation generated by the low-overhead model. It interprets "No one, I think, can deny that the depression of the agricultural interest is excessive. Though I can recall periods of suffering, none of them have ever equalled the present in its instances... [N]or 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." in the context of "Speech in the House of Lords on the agricultural depression (28 March 1879), reported in The Times (29 March 1879), p. 8" to mean that wisdom is timeless.