TO CULTIVATION. 343 



side of America, and diminish in price to the westward, un 

 less enhanced by localities of situation. As population in 

 creases in the west, and labour falls, land will rise in value, 

 cheap land and cheap labour being- incompatible with each 

 other. But the investment of capital in the purchase and 

 cultivation of land depends also on the profits of stock, or rate 

 of interest in the country, the tangibility of the investment, 

 and many other things. 



From the high price of produce, and comparatively cheap 

 labour and^ manure, in the, ^eastern parts, capital, judiciously 

 employed in cultivation, yields an ample return. But the low 

 produce and high labour in the west renders it unprofitable to 

 employ much capital in cultivation at present in that situation. 

 From the great advantages which the western districts possess 

 over the eastern ones in cheapness and fertility of soil, and con 

 sequent reward of labour, population will flow into them, and 

 render a rise in the value of land more probable there than 

 in the eastern parts. 



Having frequently alluded to the results of nature, capital, 

 and labour, in the production of farm produce and their distri 

 bution, I shall endeavour to illustrate the subject hypotheti 

 cal ly, for the purpose of assisting in forming- an opinion of 

 their general bearings. The results of capital and labour 

 employed in cultivation cannot always be separated, and per 

 haps they ought to be classed together. The assumed data 

 does not include capital invested in the purchase of land, and 

 I do not wish the accuracy of the statement to be relied on, 

 although I think it approaches to correctness. 



In East Lothian produce, let nature be represented by 3 

 Capital, ..... 1 



Labour, .... 



Total, .... 7 



Nature s share being given as rent, and also part of the results 

 of capital and labour, the landholder perhaps gets a portion, 

 expressed by 3J, leaving 3^ for the tenant, labourers, and all 

 other expenses of cultivation. But the expenses of cultivation 

 and rent must be paid under all circumstances, and frequently 



