It has been already remarked, that if the labour of ten men will, on land of a certain quality, obtain 180 quarters of wheat, and its value be 4_l._ per quarter, or 720_l._; and if the labour of ten additional men, will on the same or any other land, produce only 170 quarters in addition, wheat would rise from 4_l._ to 4_l._ 4_s._ 8_d._; for 170: 180:: 4_l._: 4_l._ 4_s._ 8_d._ In other words, as for the production of 170 quarters, the labour of ten men is necessary, in the one case, and only that of 9.44 in the other, the rise would be as 9.44 to 10, or as 4_l._ to 4_l._ 4_s._ 8_d._ In the same manner it might be shewn, that if the labour of ten additional men would only produce 160 quarters, the price would further rise to 4_l._ 10_s._; if 150, to 4_l._ 16_s._, &c. &c. But when 180 quarters were produced on the land paying no rent, and its price was 4_l._ per quarter, it sold for L720 And when 170 quarters were produced on the land paying no rent, and the price rose to 4_l._ 4_s._ 8_d._ it still sold for 720 So, 160 quarters at 4_l._ 10_s._ produce 720 And 150 quarters at 4_l._ 16_s._ produce the same sum of 720 Now it is evident, that if out of these equal values, the farmer is at one time obliged to pay wages regulated by the price of wheat at 4_l._, and at other times at higher prices, the rate of his profits will diminish in proportion to the rise in the price of corn. In this case, therefore, I think it is clearly demonstrated that a rise in the price of corn, which increases the money wages of the labourer, diminishes the money value of the farmer's profits. But the case of the farmer of the old and better land will be in no way different; he also will have increased wages to pay, and will never retain more of the value of the produce, however high may be its price, than 720_l._ to be divided between himself and his always equal number of labourers; in proportion therefore as they get more, he must retain less. When the price of corn was at 4_l._, the whole 180 quarters belonged to the cultivator, and he sold it for 720_l._ When corn rose to 4_l._ 4_s._ 8_d._ he was obliged to pay the value of ten quarters out of his 180 for rent, consequently the remaining 170 yielded him no more than 720_l._: when it rose further to 4_l._ 10_s._ he paid twenty quarters, or their value, for rent, and consequently only retained 160 quarters, which yielded the same sum of 720_l._