The mode in which the respective proportions of capitalist and labourer are assigned in the division of the products of industry, are called by one Profit, by the other Wages. If we were writing a treatise on Political Economy, we should have to regard Rent as distinct from the profits of capital. But for our purpose this is unnecessary. We proceed, then, to consider the practical relations of Profit and Wages, as they exist amongst us. Unquestionably the only solid foundation for these relations must be equal justice; without which there can be neither permanent prosperity nor increasing intelligence. A medal to our great philosopher, Locke, exhibits Justice and Plenty enthroned together. [33] See p. 61. [34] An Essay on the 'Relations between Labour and Capital.' By C. Morison, p. 34. [35] Everett's 'Address to the Working Man's Party.' [36] Sir John Herschel's 'Discourse on the Study of Natural Philosophy.' CHAPTER XXIV. Natural law of wages--State-laws regulating wages--Enactments regulating consumption--The labour-fund and the want-fund--Ratio of capital to population--State of industry at the end of the seventeenth century--Rise of manufactures--Wages and prices--Turning over capital. [Illustration: Vision of Henry I.] The old chroniclers relate that our Norman king, Henry I., had once a terrible vision, of soldiers, and priests, and peasants, surrounding his bed, one band succeeding another, and threatening to kill him. The legend became the subject of illuminated drawings in an ancient MS. preserved at Oxford, and one of these represented the tillers of the land, with spade, and fork, and scythe, demanding justice. The cultivators were loaded with heavy exactions, so great that the tenants of the crown even offered to give up their ploughs to the king. They ploughed, but they reaped not themselves. In such a state of things there could be no accumulation, and no profitable labour. The funds for supplying the wages of labour were exhausted. The country was depopulated.