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Show 512 ON TilE Il\-11\IF.DIA'TE CAUSES [ CH. VII. rected by the vvages given. And altogether I should say, that the employment of the poor in roads and public works, and a tendency an1ong landlords and persons of property to build, to in1- prove and beautify their grounds, and to employ workn1en and menial servants, are the means n1ost within our power and most directly calculated to remedy the evils arising frotn that disturbance in the balance of produce and consun1ption, vvhich has been occasioned by the sudden conversion of soldiers, sailors, and vario':ls other classes which the war employed, into productive labourerso If by the operation of these three causes, either separately or conjointly, \Ve can n1ake the supply and consumption bear a more advantageous proportion to each other, so · as to increase the exchangeable value of the whole produce, the rate of profits may then pennanently rise as high as the quality of the soil in cultivation con1bined with the actual skill of the cultivators will allov\',* 'vhich is far from being the case at present. And as soon as the capitalist can begin to save from steady and improving profits, instead of from diminished expenditure, that is, as soon as the national revenue, * The profits of stock cannot be higher than the state of the land will allow, but they may be lower in any degree. (seep. so.o.) The great difference between Mr. Ricardo and me on this pomt is, that lVIr. Ricardo thinks profits are regulated by the state of the land; I think they are only limited by it one way, and that if capital be abundant, compared with the dernand for com.~odities, profits may be low in any degree, in spite of the fertlhty of the land. S}~C. X.] I OF THE PROGRESS 0F 'VEALTH. ' 513 estin1ated in bullion, and in the command of this bullion over domestic and foreiQ·n labour beo·ins . '-' ' b yearly and steadily to increase, we may then l>egin safely and effectively to recover our lost capital by the usual process of saving a portion of our increased revenue to add to it. It is, I believe, the opinion of many persons, particulal_'ly atnong the 1nercan tile classes, that nothing vvould s.d soon and so effectively in ere a c the revenue and consun1ption of the country as a free issue of paper. But in holding, this opinion, they have mistaken the nature of the great advantage which the national vvealth n1ay son1etin1es unquestionably derive frotn a fall in the value of the currency. The specific effect of this fall is to take a way property fron1 those \V ho have fixed incon1es, and give a greater co1111nand over ·the pro ] duce of the country to those who buy and selL vVhen the state of the national expenditure is such that there is a difficulty of supplying it, then whatever tends to thro\tv a greater proportion of the produce into the hands of capitalists, as it must ' increase the po\ver of production, n1ust be just calculated to supply what is wanted. And, though the continuation of the act of restriction beyond the itnmediate necessity of the case, can hardly be considered in any other light than as an act of positive injustice to\varcls tbe possessors of i1xed incotnes; yet I can feel very little doubt that the fall in the value of n1oney, and the facility of credit which it occasioned, acting in the way descri}Jed, n1ust have contributed greatly to that L L I |