402 PROFITS OF CAPITAL. 



to affect the profits of capital invested in other fields of pro 

 duction. Indeed, the high price of labour, and the difficulty 

 of combining systematically and giving proper effect to agri 

 cultural labour in most parts of the United States, render the 

 employment of much capital in farming unprofitable. The 

 high price of labour affects the investment of capital in other 

 channels, and it will be found difficult to manage a large for 

 tune safely and profitably. On this account wealth is seldom 

 accumulated in large masses, while almost all the inhabitants 

 have it in their power to acquire a competency. The customs 

 of the people are favourable to this degree of wealth a father s 

 property being generally equally divided at death amongst his 

 children. Capital, however, in many cases, will enter into 

 competition with labour, and its profits in the United States, 

 where the fields of production are so extensive, and its inha 

 bitants so enterprising, cannot be low for many generations 

 to come. 



