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Show Ul\11\fAltY . PAGE will remain the sa1ne, and the whole diminution of cost Will go in1mediately to rent . . . . 163 If the improvements be such as to increa e the produce, the price will fall, but population will very soon increa e, and in a short time poorer land will be cultivated without a rise of price, and rents will rL c . 164 The ery great in1provement in agriculture which have taken place in thi country have gone alnw t wholly to the in-crease of rent and the payment of ta es 1 65 Local improve1nent in agriculture go iminediatc1y, on therenewal of lea e , to the landlord , and occa ion, in particular di trict , a very great rise of rent , without any diminution of the ordinary rates of profits and ' vages . Facility of production in nece aries i never attended, as in all other cmnmoditie , with a permanent fall of price, and therefore it alway increa es rent . The fourth cause which tend to raise rent is, uch an increase in the Yalue of agricultural produce a will increa e the difference between the price of this produce and the costs ib. ib. of production . . . . 166 The ri e in the price of corn occa ioned by increased labour employed upon it i , after a certain period, confined within very narrow limit A rise in the money price of corn, occasioned by demand, and terminating in a fall in the value of money, encourages cultivation and incrca e rent , without necessarily lowering ib. wages and profits . 167 The state of money price , in the United States of America, tends trongly to illu trate thi po ition . Effects of a i1nilar kind, occa 'ioned by a great demand for corn and high money price , took place in our own country from 1793 to the end of 1813, and rent rose without a fall ib. of profits . . . . . 168 A si1nilar effect would be produced by a great and increasing demand for manufactures ; or great in1provements in machinery, accompanied by a sufficient vent for the produce · 17° When the stimulus to agriculture originate in a prosperous state of cmnmerce and 1nanufacture , labour sometimes rises first; but this is not necessary . . . · 17l SUMMARY. 545 WI l . PAGE lent 1e ~rice of corn rises, it is scarcely possible that all the mater1als of capital should ri eat the same time or even finally in the same proportion . . . . . . . ' . . · 171 A ~all in the value of money can scarcely fail permanently to Increase the power of cultivating poor lands, and of raising rents . . . . . . . . . 172 It is not necessary that all the four c~us~s ~hlch .ten.d t~ r~is~ rents, by diminishing the relative costs of production, should operate at the same time, in order to produce a rise . 173 In this country cultivation has been extended and rents have risen, although one of the instruments of production-capi ... tal, has been dearer, or profits have been high . . . . ib. Improvements in agriculture might raise rents, notwithstand-ing a rise of wages • 17 4 No fresh land can be taken into cultivation till rents have risen, or would allow of a rise, on what is already cui- ~~ ~ No new capital can be en1ployed on old land, at an inferior profit, without the same tendency to a rise of rents . . 175 The rise of rents wi.ll not be in proportion to the extension of ..c ultivation, or the increase of produce . 17 6 Rents in this country bear a less proportion to the whole pro-duce now than form'erly, although they are both nominally and really n1uch increased . . 177 A progressive rise of rents is necessarily connected with accumulation of capital, increase of population, i1nprovements in agriculture_, and the high price of raw produce 178 SEcT. IV.-Oftlze Causes whiclt tend to lower Rents. Rents are lowered by diminished capital, diminished population, a bad system of cultivation, and the low price of raw produce . . 178 The three first are such obvious causes of low rents, that the fourth only need be considered ib. The effect of the fourth cause may be illustrated by the land thrown out of cultivation, and the fall of rents in this country at the end of the war . . 179 When the produce of a country is declining) and rents are N N |