btained, will increase the cost of production, and
will therefore raise the price of raw produce.

If the price of raw produce did not rise so as to compensate the
cultivator for the tax, he would naturally quit a trade where his
profits were reduced below the general level of profits: this would
occasion a diminution of supply, until the unabated demand should have
produced such a rise in the price of raw produce, as to make the
cultivation of it equally profitable with the investment of capital in
any other trade.

A rise of price is the only means by which he could pay the tax, and
continue to derive the usual and general profits from this employment of
his capital. He could not deduct the tax from his rent, and oblige his
landlord to pay it, for he pays no rent. He would not deduct it from his
profits, for there is no reason why he should continue in an employment
which yields small profits, when all other employments are yielding
greater. There can then be no question, but that he will have the power
of raising the price of raw produce by a sum equal to the tax.

A tax on raw produce would not be paid by the landlord; it would not be
paid by the farmer; but it would be paid, in an increased price, by the
consumer.

Rent, it should be remembered, is the difference between the produce
obtained by equal portions of labour and capital employed on land of the
same or different qualities. It should be remembered too, that the money
rent of land, and the corn rent of land, do not vary in the same
proportion.

In the case of a tax on raw produce, of a land tax, or tithes, the corn
rent of land will vary, while the money rent will remain as before.

If, as we have before supposed, the land in cultivation were of three
qualities, and that with an equal amount of capital,

180 qrs. of corn were obtained from land No. 1.
170 " " " from " 2.
160 " " " from " 3.

the rent of No. 1 would be 20 quarters, the difference between that of
No. 3 and No. 1; and of No. 2, 10 quarters, the difference between that
of No. 3 and No. 2; while No. 3 would pay no rent whatever.

Now if the price of corn were 4_l._ per quarter, the money rent of No. 1
would be 80_l._, and that of No. 2, 40_l._

Suppose a tax of 8_s._ per quarter to be imposed on corn; then the price
would rise to 4_l._ 8_s._; and if the landlords obtained the same corn
rent as before, the rent of No. 1 wou