the nature of rent-第5节

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this　rise　of　rents　will　be　by　no　means　in　proportion　to　the

extension　of　cultivation；　or　the　increase　of　produce。　Every

relative　fall　in　the　price　of　the　instruments　of　production；　may

allow　of　the　employment　of　a　considerable　quantity　of　additional

capital；　and　when　either　new　land　is　taken　into　cultivation；　or

the　old　improved；　the　increase　of　produce　may　be　considerable；

though　the　increase　of　rents　be　trifling。　We　see；　in　consequence；

that　in　the　progress　of　a　country　towards　a　high　state　of

cultivation；　the　quantity　of　capital　employed　upon　the　land；　and

the　quantity　of　produce　yielded　by　it；　bears　a　constantly

increasing　proportion　to　the　amount　of　rents；　unless

counterbalanced　by　extraordinary　improvements　in　the　modes　of

cultivation。（11*）

　　　　According　to　the　returns　lately　made　to　the　Board　of

Agriculture；　the　average　proportion　which　rent　bears　to　the　value

of　the　whole　produce；　seems　not　to　exceed　one　fifth；（12*）　whereas

formerly；　when　there　was　less　capital　employed；　and　less　value

produced；　the　proportion　amounted　to　one　fourth；　one　third；　or

even　two　fifths。　Still；　however；　the　numerical　difference　between

the　price　of　produce　and　the　expenses　of　cultivation；　increases

with　the　progress　of　improvement；　and　though　the　landlord　has　a

less　share　of　the　whole　produce；　yet　this　less　share；　from　the

very　great　increase　of　the　produce；　yields　a　larger　quantity；　and

gives　him　a　greater　command　of　corn　and　labour。　If　the　produce　of

land　be　represented　by　the　number　six；　and　the　landlord　has　one

fourth　of　it；　his　share　will　be　represented　by　one　and　a　half。　If

the　produce　of　land　be　as　ten；　and　the　landlord　has　one　fifth　of

it；　his　share　will　be　represented　by　two。　In　the　latter　case；

therefore；　though　the　proportion　of　the　landlord's　share　to　the

whole　produce　is　greatly　diminished；　his　real　rent；　independently

of　nominal　price；　will　be　increased　in　the　proportion　of　from

three　to　four。　And　in　general；　in　all　cases　of　increasing

produce；　if　the　landlord's　share　of　this　produce　do　not　diminish

in　the　same　proportion；　which　though　it　often　happens　during　the

currency　of　leases；　rarely　or　never　happens　on　the　renewal　of

them；　the　real　rents　of　land　must　rise。

　　　　We　see　then；　that　a　progressive　rise　of　rents　seems　to　be

necessarily　connected　with　the　progressive　cultivation　of　new

land；　and　the　progressive　improvement　of　the　old：　and　that　this

rise　is　the　natural　and　necessary　consequence　of　the　operation　of

four　causes；　which　are　the　most　certain　indications　of　increasing

prosperity　and　wealth　…　namely；　the　accumulation　of　capital；　the

increase　of　population；　improvements　in　agriculture；　and　the　high

price　of　raw　produce；　occasioned　by　the　extension　of　our

manufactures　and　commerce。

　　　　On　the　other　hand；　it　will　appear；　that　a　fall　of　rents　is　as

necessarily　connected　with　the　throwing　of　inferior　land　out　of

cultivation；　and　the　continued　deterioration　of　the　land　of　a

superior　quality；　and　that　it　is　the　natural　and　necessary

consequence　of　causes；　which　are　the　certain　indications　of

poverty　and　decline；　namely；　diminished　capital；　diminished

population；　a　bad　system　of　cultivation；　and　the　low　price　of　raw

produce。

　　　　If　it　be　true；　that　cultivation　cannot　be　extended　but　under

such　a　state　of　prices；　compared　with　the　expenses　of　production；

as　will　allow　of　an　increase　of　rents；　it　follows　naturally　that

under　such　a　state　of　relative　prices　as　will　occasion　a　fall　of

rents；　cultivation　must　decline。　If　the　instruments　of　production

become　dearer；　compared　with　the　price　of　produce；　it　is　a

certain　sign　that　they　are　relatively　scarce；　and　in　all　those

cases　where　a　large　quantity　of　them　is　required；　as　in　the

cultivation　of　poor　land；　the　means　of　procuring　them　will　be

deficient；　and　the　land　will　be　thrown　out　of　employment。

　　　　It　appeared；　that　in　the　progress　of　cultivation　and　of

increasing　rents；　it　was　not　necessary　that　all　the　instruments

of　production　should　fall　in　price　at　the　same　time；　and　that　the

difference　between　the　price　of　produce　and　the　expense　of

cultivation　might　increase；　although　either　the　profits　of　stock

or　the　wages　of　labour　might　be　higher；　instead　of　lower。

　　　　In　the　same　manner；　when　the　produce　of　a　country　is

declining；　and　rents　are　falling；　it　is　not　necessary　that　all

the　instruments　of　production　should　be　dearer。　In　a　declining　or

stationary　country；　one　most　important　instrument　of　production

is　always　cheap；　namely；　labour；　but　this　cheapness　of　labour

does　not　counterbalance　the　disadvantages　arising　from　the

dearness　of　capital；　a　bad　system　of　culture；　and；　above　all；　a

fall　in　the　price　of　raw　produce；　greater　than　in　the　price　of

the　other　branches　of　expenditure；　which；　in　addition　to　labour；

are　necessary　tO　cultivation。

　　　　It　has　appeared　also；　that　in　the　progress　of　cultivation　and

of　increasing　rents；　rent；　though　greater　in　positive　amount；

bears　a　less；　and　lesser　proportion　to　the　quantity　of　capital

employed　upon　the　land；　and　the　quantity　of　produce　derived　from

it。　According　to　the　same　principle；　when　produce　diminishes　and

rents　fall；　though　the　amount　of　rent　will　always　be　less；　the

proportion　which　it　bears　to　capital　and　produce　will　always　be

greater。　And；　as　in　the　former　case；　the　diminished　proportion　of

rent　was　owing　to　the　necessity　of　yearly　taking　fresh　land　of　an

inferior　quality　into　cultivation；　and　proceeding　in　the

improvement　of　old　land；　when　it　would　return　only　the　common

profits　of　stock；　with　little　or　no　rent；　so；　in　the　latter　case；

the　high　proportion　of　rent　is　owing　to　the　impossibility　of

obtaining　produce；　whenever　a　great　expenditure　is　required；　and

the　necessity　of　employing　the　reduced　capital　of　the　country；　in

the　exclusive　cultivation　of　its　richest　lands。

　　　　In　proportion；　therefore；　as　the　relative　state　of　prices　is

such　as　to　occasion　a　progressive　fall　of　rents；　more　and　more

lands　will　be　gradually　thrown　out　of　cultivation；　the　remainder

will　be　worse　cultivated；　and　the　diminution　of　produce　will

proceed　still　faster　than　the　diminution　of　rents。

　　　　If　the　doctrine　here　laid　down；　respecting　the　laws　which

govern　the　rise　and　fall　of　rents；　be　near　the　truth；　the

doctrine　which　maintains　that；　if　the　produce　of　agriculture　were

sold　at　such　a　price　as　to　yield　less　net　surplus；　agriculture

would　be　equally　productive　to　the　general　stock；　must　be　very

far　from　the　truth。

　　　　With　regard　to　my　own　conviction；　indeed；　I　feel　no　sort　of

doubt　that　if；　under　the　impression　that　the　high　price　of　raw

produce；　which　occasions　rent；　is　as　injurious　to　the　consumer　as

it　is　advantageous　to　the　landlord；　a　rich　and　improved　nation

were　determined　by　law；　to　lower　the　price　of　produce；　till　no

surplus　in　the　shape　of　rent　anywhere　remained；　it　would

inevitably　throw　not　only　all　the　poor　land；　but　all；　except　the

very　best　land；　out　of　cultivation；　and　probably　reduce　its

produce　and　population　to　less　than　one　tenth　of　their　former

amount。

　　　　From　the　preceding　account　of　the　progress　of　rent；　it

follows；　that　the　actual　state　of　the　natural　rent　of　land　is

necessary　to　the　actual　produce；　and　that　the　price　of　produce；

in　every　progressive　country；　must　be　just　about　equal　to　the

cost　of　production　on　land　of　the　poorest　quality　actually　in

use；　or　to　the　cost　of　raising　additional　produce　on　old　land；

which　yields　only　the　usual　returns　of　agricultural　stock　with

little　or　no　rent。

　　　　It　is　quite　obvious　that　the　price　cannot　be　less；　or　such

land　would　not　be　cultivated；　nor　such　capital　employed。　Nor　can

it　ever　much　exceed　this　price；　because　the　poor　land

progressively　taken　into　cultivation；　yields　at　first　little　or

no　rent；　and　because　it　will　always　answer　to　any　farmer　who　can

command　capital；　to　lay　it　out　on　his　land；　if　the　additional

produce　resulting　from　it　will　fully　repay　the　profits　of　his

stock；　although　it　yields　nothing　to　his　landlord。

　　　　It　follows　then；　that　the　price　of　raw　produce；　in　reference

to　the　whole　quantity　raised；　is　sold　at　the　natural　or　necessary

price；　that　is；　at　the　price　necessary　to　obtain　the　actual

amount　of　produce；　although　by　far　the　largest　part　is　sold　at　a

price　very　much　above　that　which　is　necessary　to　its　production；

owing　to　this　part　being　produced　at　less　expense；　while　its

exchangeable　value　remains　undiminished。

　　　　The　difference　between　the　price　of　corn　and　the　price　of

manufactures；　with　regard　to　natural　or　necessary　price；　is　this；

that　if　the　price　of　any　manufacture　were　essentially　depressed；

the　whole　manufacture　would　be　entirely　destroyed；　whereas；　if

the　price　of　corn　were　essentially　depressed；　the　quantity　of　it

only　would　be　diminished。　There　would　be　some　machinery　in　the

country　still　capable　of　sending　the　commodity　to　market　at　the

reduced　price。

　　　　The　earth　has　been　sometimes　compared　to　a　vast　machine