This historic book may have numerous typos and missing text.
Purchasers can download a free scanned copy of the original book
(without typos) from the publisher. Not indexed. Not illustrated.
1823. Excerpt: ... CHAPTER XV., ' "' Rent. The rent of land
consists of that part of its produce which is received by the
landlord, after paying the expence of labour, materials, and
profits of capital employed in its cultivation. The produce of the
soil, as we have shewn, creates population, which multiplies with
the increase of it. As the value of labour becomes less, the
surplus produce of the soil becomes greater. Rent from mines is
also their surplus produce, after paying for the labour, materials,
and profits of capital employed in working them The principles,
however, which govern the demand, by which rent from mines is
created, are different from those which regulate the rent of land.
There is always a given demand for every commodity of necessary,
luxury, or convenience, in use. This demand is regulated by its
price. If a carriage could be had for six-pence, beggars would
ride. It is only the high price of the luxury which confines it to
comparatively so few. Beneath the cost of its production in labour
materials, profits of capital, &c. no commodity can, for any
length of time, fall. If it could not be sold for what it cost, it
would cease to be produced altogether. But if, on the contrary, the
supply of any commodity is unlimited, except by the cost of
production, as salt for in stance from sea water, the price of it
never can exceed that cost upon the average, as an increase of
supply would always follow an increase of demapd. Should, however,
the supply of any commodity be limited, and there is a demand for
much more than can, by the application of labour and capital, be
produced; this demand must be brought to an equality with the
supply by an increase of price, which will reduce either the
inclination, or confine the power of consuming it to a less number
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