the nature of rent-第5章

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might　be　increased；　although　the　profits　of　agricultural　stock

were　not　only　undiminished；　but　were　to　rise　decidedly　higher。

　　　　Of　the　great　additional　quantity　of　capital　employed　upon　the

land　in　this　country；　during　the　last　twenty　years；　by　far　the

greater　part　is　supposed　to　have　been　generated　on　the　soil；　and

not　to　have　been　brought　from　commerce　or　manufactures。　And　it

was　unquestionably　the　high　profits　of　agricultural　stock；

occasioned　by　improvements　in　the　modes　of　agriculture；　and　by

the　constant　rise　of　prices；　followed　only　slowly　by　a

proportionate　rise　in　the　different　branches　of　capital；　that

afforded　the　means　of　so　rapid　and　so　advantageous　an

accumulation。

　　　　In　this　case　cultivation　has　been　extended；　and　rents　have

risen；　although　one　of　the　instruments　of　production；　capital；

has　been　dearer。

　　　　In　the　same　manner　a　fall　of　profits　and　improvements　in

agriculture；　or　even　one　of　them　separately；　might　raise　rents；

notwithstanding　a　rise　of　wages。

　　　　It　may　be　laid　down　then　as　a　general　truth；　that　rents

naturally　rise　as　the　difference　between　the　price　of　produce　and

the　cost　of　the　instruments　of　production　increases。

　　　　It　is　further　evident；　that　no　fresh　land　can　be　taken　into

cultivation　till　rents　have　risen；　or　would　allow　of　a　rise　upon

what　is　already　cultivated。

　　　　Land　of　an　inferior　quality　requires　a　great　quantity　of

capital　to　make　it　yield　a　given　produce；　and；　if　the　actual

price　of　this　produce　be　not　such　as　fully　to　compensate　the　cost

of　production；　including　the　existing　rate　of　profits；　the　land

must　remain　uncultivated。　It　matters　not　whether　this

compensation　is　effected　by　an　increase　in　the　money　price　of　raw

produce；　without　a　proportionate　increase　in　the　money　price　of

the　instruments　of　production；　or　by　a　decrease　in　the　price　of

the　instruments　of　production；　without　a　proportionate　decrease

in　the　price　of　produce。　What　is　absolutely　necessary；　is　a

greater　relative　cheapness　of　the　instruments　of　production；　to

make　up　for　the　quantity　of　them　required　to　obtain　a　given

produce　from　poor　land。

　　　　But　whenever；　by　the　operation　of　one　or　more　of　the　causes

before　mentioned；　the　instruments　of　production　become　cheaper；

and　the　difference　between　the　price　of　produce　and　the　expenses

of　cultivation　increases；　rents　naturally　rise。　It　follows

therefore　as　a　direct　and　necessary　consequence；　that　it　can

never　answer　to　take　fresh　land　of　a　poorer　quality　into

cultivation；　till　rents　have　risen　or　would　allow　of　a　rise；　on

what　is　already　cultivated。

　　　　It　is　equally　true；　that　without　the　same　tendency　to　a　rise

of　rents；　occasioned　by　the　operation　of　the　same　causes；　it

cannot　answer　to　lay　out　fresh　capital　in　the　improvement　of　old

land　…　at　least　upon　the　supposition；　that　each　farm　is　already

furnished　with　as　much　capital　as　can　be　laid　out　to　advantage；

according　to　the　actual　rate　of　profits。

　　　　It　is　only　necessary　to　state　this　proposition　to　make　its

truth　appear。　It　certainly　may　happen；　and　I　fear　it　happens

frequently；　that　farmers　are　not　provided　with　all　the　capital

which　could　be　employed　upon　their　farms；　at　the　actual　rate　of

agricultural　profits。　But　supposing　they　are　so　provided；　it

implies　distinctly；　that　more　could　not　be　applied　without　loss；

till；　by　the　operation　of　one　or　more　of　the　causes　above

enumerated；　rents　had　tended　to　rise。

　　　　It　appears　then；　that　the　power　of　extending　cultivation　and

increasing　produce；　both　by　the　cultivation　of　fresh　land　and　the

improvement　of　the　old；　depends　entirely　upon　the　existence　of

such　prices；　compared　with　the　expense　of　production；　as　would

raise　rents　in　the　actual　state　of　cultivation。

　　　　But　though　cultivation　cannot　be　extended；　and　the　produce　of

the　country　increased；　but　in　such　a　state　of　things　as　would

allow　of　a　rise　of　rents；　yet　it　is　of　importance　to　remark；　that

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