170 Professor Whewell on the 



will be applicable with no great modification, to the case in which 

 the powers of production are supposed to have increased. 



Mr. Ricardo's other problems are these. 



In the course of the progress of things above described, taxes 

 being levied on any portion of the wealth of the country (as 

 wages, rents, land, profits, &c.) to determine their ultimate inci- 

 dence and consequences. 



Mr. Ricardo has also considered some of the questions con- 

 nected with the subject of foreign trade and the varying value 

 of money, which I shall afterwards endeavour to state. 



PROGRESSIVE DISTRIBUTION OF PRODUCE. 



9. Let the following notation be employed ; 

 ;• = the produce on one acre, p = the price of one quarter, c the 

 capital on one acre, 7 the rate of profit on £l, I the number 

 of labourers employed on one acre, (including the labour requisite 

 to replace the waste of fixed capital) w the wages of labour. 



The value of the return on one acre is pr, of which the 

 labourers' portion is Iw, and the capitalist's is yc; hence by 

 Post. I. pr-lw—yc is the rent. On the limiting soil this gives 

 pr=lw + yc. Now suppose prices to rise top, and cultivation to 

 be pushed upon a worse limiting soil, on which the produce is r'. 

 the capital c', and the labourers V. Hence pr = l'w + y'c. And 

 in this case the rent on one acre of the former limiting soil be- 

 comes pr — ho' — y'c. 



The increase of price is supposed to be in proportion to the 

 increase of labour requisite to produce the same quantity of corn 

 (see Post. III). The whole price pr was, in the first instance, 

 paid for the result of the labour I; the whole price p'r is after- 

 wards paid for the result of the labour t ; therefore pr :p'r :: I: V. 



