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country continue increasing, they must ultimately reach, and cannot pass; and that this limit, upon the principle of private property, must be far short of the utmost power of the earth to produce food.

CHAP.

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IT has been observed that some countries, with great resources in land, and an evident power of supporting a greatly increased population from their own soil, have yet been in the habit of importing large quantities of foreign corn, and have become dependent upon other states for a great part of their supplies.

The causes which may lead to this state of things seem to be chiefly the following:

First; any obstacles which the laws, constitutions and customs of a country present to the accumulation of capital on the land, which do not apply with equal force to the increasing employment of capital in commerce and manufactures.

In every state in which the feudal system has prevailed, there are laws and customs of this kind, which prevent the free division and alienation of land like other

perty,

pro

perty, and render the preparations for an extension of cultivation often both very difficult and very expensive. Improvements in such countries are chiefly carried on by tenants, a large part of whom have not leases, or at least leases of any length; and though their wealth and respectability have of late years very greatly increased, yet it is not possible to put them on a footing with enterprising owners, and to give them the same independence, and the same encouragement to employ their capitals with spirit, as merchants and manufacturers.

Secondly; a system of direct or indirect taxation, of such a nature as to throw a weight upon the agriculture of a country, which is either unequal, or, from peculiar circumstances, can be better borne by commerce and manufactures.

It is universally allowed that a direct tax on corn grown at home, if not counterbalanced by a corresponding tax on the importation of it, might be such as to destroy at once the cultivation of grain, and make a country import the whole of its consumption; and a partial effect of the same kind would follow, if, by a system of indirect taxation, the general price of labour were raised and yet by means of drawbacks on home and foreign commodities, by an abundance of colonial produce, and by those peculiar articles, the demand for which abroad would not be much affected by the increase of price, the value of the whole of the exports, though not the quantity, might admit of increase.

same

Thirdly; improved machinery, combined with extensive capital and a very advantageous division of labour.

If in any country, by means of capital and machinery, one man be enabled to do the work of ten, it is quite obvious that before the same advantages are extended to other countries, a rise in the price of labour will but very little interfere with the power of selling those sorts of commodities, in the production of which the capital and machinery are so effectively applied. It is quite true that an advance in the necessary wages of labour, which increases the ex

* A rise in the price of labour in China would certainly increase the returns which it receives for its teas.

pense

pense of raising corn, may have the same effect upon many commodities besides corn; and if there were no others, no encouragement would be given to the importation of foreign grain, as there might be no means by which it could be purchased cheaper abroad. But a large class of the exportable commodities of a commercial country are of a different description. They are either articles in a considerable degree peculiar to the country and its dependencies, or such as have been produced by superior capital and machinery, the prices of which are determined rather by domestic than foreign competition. All commodities of this kind will evidently be able to support without essential injury an advance in the price of labour, some permanently, and others for a considerable time. The rise in the price of the commodity so occasioned, or rạther the prevention of that fall which would otherwise have taken place, may always indeed have the effect of decreasing in some degree the quantity of the commodity exported; but it by no means follows that it will diminish the whole of its bullion value in the foreign country, which is

precisely

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