r
profits rise or fall, it is this sum of 720_l._ from which they must
both be provided. On the one hand, profits can never rise so high as to
absorb so much of this 720_l._, that enough will not be left to furnish
the labourers with absolute necessaries; on the other hand, wages can
never rise so high as to leave no portion of this sum for profits.

Thus in every case, agricultural, as well as manufacturing profits are
lowered by a rise in the price of raw produce, if it be accompanied by
a rise of wages.[11] If the farmer gets no additional value for the corn
which remains to him after paying rent, if the manufacturer gets no
additional value for the goods which he manufactures, and if both are
obliged to pay a greater value in wages, can any point be more clearly
established than that profits must fall, with a rise of wages?

The farmer then, although he pays no part of his landlord's rent, that
being always regulated by the price of produce, and invariably falling
on the consumers, has however a very decided interest in keeping rent
low, or rather in keeping the natural price of produce low. As a
consumer of raw produce, and of those things into which raw produce
enters as a component part, he will in common with all other consumers,
be interested in keeping the price low. But he is most materially
concerned with the high price of corn as it affects wages. With every
rise in the price of corn, he will have to pay out of an equal and
unvarying sum of 720_l._, an additional sum for wages to the ten men whom
he is supposed constantly to employ. We have seen in treating on wages,
that they invariably rise with the rise in the price of raw produce. On
a basis assumed for the purpose of calculation, page 106, it will be
seen that if when wheat is at 4_l._ per quarter, wages should be 24_l._
per annum.

L _s._ _d._ L _s._ _d._
{ 4 4 8 } { 24 14 0
When Wheat { 4 10 0 } wages would be { 25 10 0
is at { 4 16 0 } { 26 8 0
{ 5 2 10 } { 27 8 6

Now, of the unvarying fund of 720_l._ to be distributed between
labourers and farmers,

L _s._ _d._ _s._ _d._ L _s._ _d._
When the { 4 0 0 } the { 240 0 } the { 480 0 0
price of { 4 4 8 } labourer { 247 0 } farmer { 473 0 0
Wheat is { 4 10 0 }