of some Doctrines of Political Economy. 203 



two determinations nltiinately run together. The point at which 

 they will meet depends on the law of each ; and the proper elements 

 being known, may be determined by an equation, as we sjiall see. 



12. It may be proper to add another Axiom. 



Axiom 6. If any tax be imposed on one employment of 

 capital, {for instance, on agriculture), tlie profits of the capitalist 

 will not he affected by it. 



The word tax is here employed for the sake of conciseness 

 and distinctness for any charge or claim, by whatever rule governed, 

 which does not belong to the usual distribution of the produce 

 into rent, profits and wages. It may, according to the quarter 

 where it is found to fall, be considered as part of rent or profits, 

 or of the price paid by the consumer ; and according to these 

 circumstances and to the ground of the claim, it may, in many 

 instances, be improperly designated according to common appre- 

 hension, by the word which I have adopted as most convenient 

 and precise. 



On the supposition already made, that the capitalist can and 

 will withdraw his capital when his profits are diminished, the 

 above Axiom is manifestly true. And the surplus of the produce 

 after the taxes are paid out of it, will therefore be divided in 

 the same manner as the whole was when there was no tax. 



This sixth Axiom however is true no longer than while it is 

 allowable to make the supposition above-mentioned. If from any 

 cause the possibility of obtaining the usual profits of capital is 

 affected, the rate of profits will change. If when the profits of 

 the agricultural capitalist are diminished, and he withdraws his 

 capital to transfer it to the field of manufactures, it happen 

 that the quantity of capital which must be transferred to restore 

 the equilibrium, bears a proportion not inconsiderable to the 

 whole capital already employed in the new department, it will 

 no longer be possible to obtain the same profits as before, both 



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