h enable us to relinquish a portion of labour before
required, and therefore to lower the price of the prime necessary of the
labourer. The rise in the price of necessaries and in the wages of
labour is however limited; for as soon as wages should be equal (as in
the case formerly stated) to 720_l._, the whole receipts of the farmer,
there must be an end of accumulation; for no capital can then yield any
profit whatever, and no additional labour can be demanded, and
consequently population will have reached its highest point. Long indeed
before this period, the very low rate of profits will have arrested all
accumulation, and almost the whole produce of the country, after paying
the labourers, will be the property of the owners of land and the
receivers of tithes and taxes.

Thus, taking the former very imperfect basis as the grounds of my
calculation, it would appear that when corn was at 20_l._ per quarter,
the whole net income of the country would belong to the landlords, for
then the same quantity of labour that was originally necessary to
produce 180 quarters, would be necessary to produce 36; since 20_l._ :
4_l._ :: 180 : 36. The farmer then, who originally produced 180
quarters, (if any such there were, for the old and new capital employed
on the land would be so blended, that it could in no way be
distinguished,) would sell the

180 qrs. at 20_l._ per qr. or L3600
the value of 144 qrs. {to landlord for rent, being the }
--- {difference between 36 and 180 qrs.} 2880
36 qrs. 720
the value of 36 qrs. to labourers ten in number 720
---
leaving nothing whatever for profit.

At this price of 20_l._ the labourers would continue to consume
three quarters each per annum or L60

And on other commodities they would expend 12
--
72 for each labourer.
--
And therefore ten labourers would cost 720_l._ per annum.

In all these calculations I have been desirous only to elucidate the
principle, and it is scarcely necessary to observe, that my whole basis
is assumed at random, and merely for the purpose of exemplification. The
results though different in degree, would have been the same