An anniversary for free traders

ABOUT HALF of most British people’s income in the 1830s and 1840s was spent on food. Hunger was commonplace, occasionally sparking riots. Contributing to the high cost were tariffs on imported grain, called the Corn Laws, which soared as high as 80%. The system enriched aristocratic landowners when most Britons were not allowed to serve in Parliament or vote.Facing public anger, a famine in Ireland and fears of starvation in Britain, the prime minister, Robert Peel, introduced legislation to end the tariffs. On June 25th 1846 the House of Lords repealed the Corn Laws, following a House of Commons vote a month earlier. It marked a major moment in the history of open economies. How it was achieved offers lessons to those defending the global trading system today.