hich, let it be remembered, must be raised, his
employer must contribute more; in other words, he would contribute as
much to the tax by his expenditure, as he would receive in the effects
of the bounty and the higher rate of profits together. He obtains a
higher rate of profits to requite him for his payment, not only of his
own quota of the tax, but of his labourer's also; the remuneration which
he receives for his labourer's quota appears in diminished wages, or,
which is the same thing, in increased profits; the remuneration for his
own appears in the diminution in the price of the corn which he
consumes, arising from the bounty.

Here it will be proper to remark the different effects produced on
profits from an alteration in the real labour value of corn, and an
alteration in the relative value of corn, from taxation and from
bounties. If corn is lowered in price by an alteration in its labour
price, not only will the rate of the profits of stock be altered, but
the absolute profits also; which does not happen, as we have just seen,
when the fall is occasioned artificially by a bounty. In the real fall
in the value of corn, arising from less labour being required to produce
one of the most important objects of man's consumption, labour is
rendered more productive. With the same capital the same labour is
employed, and an increase of productions is the result; not only then
will the rate of profits, but the absolute profits of stock be
increased; not only will each capitalist have a greater money revenue,
if he employs the same money capital, but also when that money is
expended, it will procure him a greater sum of commodities; his
enjoyments will be augmented. In the case of the bounty, to balance the
advantage which he derives from the fall of one commodity, he has the
disadvantage of paying a price more than proportionally high for
another; he receives an increased rate of profits in order to enable him
to pay this higher price; so that his real situation is in no way
improved: though he gets a higher rate of profits, he has no greater
command of the produce of the land and labour of the country. When the
fall in the value of corn is brought about by natural causes, it is not
counteracted by the rise of other commodities; on the contrary, they
fall from the raw material falling from which they are made: but when
the fall in corn is occasioned by artificial means, it is always
counteracted by a real rise in the v