ld be 88_l._, and that of No. 2,
44_l._ But they would not obtain the same corn rent; the tax would fall
heavier on No. 1 than on No. 2, and on No. 2 than on No. 3, because it
would be levied on a greater quantity of corn. It is the difficulty of
production on No. 3 which regulates price; and corn rises to 4_l._
8_s._, that the profits of the capital employed on No. 3 may be on a
level with the general profits of stock.

The produce and tax on the three qualities of land will be as follows:

No. 1, yielding 180 qrs. at 4_l._ 8_s._ per qr. L792
Deduct the value of 16.3 or 8_s._ per qr. on 180 qrs. 72
----- ----
Net corn produce 163.7 Net money produce L720
----- ----

No. 2, yielding 170 qrs. at 4_l._ 8_s._ per qr. L748
Deduct the value of 15.4 {qrs. at 4_l._ 8_s._ or 8_s._ per}
{ qr. on 170 qrs. } 68
----- ----
Net corn produce 154.6 Net money produce of L680
----- ----

No. 3, 160 qrs. at 4_l._ 8_s._ L704
Deduct the value of 14.5 {qrs. at 4_l._ 8_s._ or 8_s._ per}
{ qr. on 160 } 64
----- ----
Net corn produce 145.5 Net money produce L640
----- ----

The money rent of No. 1 would continue to be 80_l._, or the difference
between 640 and 720_l._; and that of No. 2, 40_l._, or the difference
between 640_l._ and 680_l._, precisely the same as before; but the corn
rent will be reduced from 20 quarters on No. 1 to 18.2 quarters, and
that on No. 2 from 10 to 9.1 quarters.

A tax on corn, then, would fall on the consumers of corn, and would
raise its value as compared with all other commodities, in a degree
proportioned to the tax. In proportion as raw produce entered into the
composition of other commodities, would their value also be raised,
unless the tax were countervailed by other causes. They would in fact be
indirectly taxed, and their value would rise in proportion to the tax.

A tax, however, on raw produce, and on the necessaries of the labourer,