The calculating tenant has now formed an estimate of what he may assume as the amount of produce which he can procure from the farm, as also of the cost which the obtaining of that produce in the given locality will entail. He thus reaches the third stage of his investigation--the price which he may reckon on realizing for the products he has raised. Here the peculiar nature of the agricultural business reveals itself. A man who enters upon a new industry, or erects a new mill, or opens a fresh mine, will not inquire for a particular price which he may adopt as the basis of his computations. He will think only of the extent of the demand which exists for the articles that he intends to manufacture. If it is strong and increasing, he will feel sure that the consumers will repay the whole cost of production, interest and capital included, and in addition the legitimate profit attached to the business. If he hires or buys machinery, he will pay the price belonging to it in its own market as a manufactured article, precisely as if he were making purchases in shops; the seller of a steam-engine will not ask how much profit the engine will create for the factory. No doubt, if a site must be bought or hired for the erection of the mill, a higher price for the land will be encountered, in consequence of the prosperity of trade in the particular town or district; but the rate of profit will not rise in the discussion between the landowner and the trader. The price of the land will be regulated by the force of the existing demand for land, a demand which, of course, will gather strength from the swelling profits realized in the trade.