Ch. X. and Cojnmerce combined. 157 



that the employment of a small capital upon it 

 may be little productive, while the employment 

 of a large capital in draining, or in changing the 

 character of the soil by a sufficient quantity of 

 natural and artificial manures, may be productive 

 in a high degree ; and partly also, from the cir- 

 cumstance that after every fall of profits and 

 wages there will often be room for the employ- 

 ment of a much greater capital upon the land than 

 is at the command of those, who, by being in 

 the actual occupation of farms, can alone so em- 

 ploy it. 



Secondly ; improvements in agriculture. If 

 new and superior modes of cultivation be in- 

 vented, by which not only the land is better ma- 

 naged, but is worked with less labour, it is ob- 

 vious that inferior land may be cultivated at higher 

 profits than could be obtained from richer land 

 before ; and an improved system of culture, with 

 the use of better instruments, maj^ for a long 

 period, more than counterbalance the tendency of 

 an extended cultivation and a great increase of 

 capital to yield smaller proportionate returns. 



Thirdly; improvements in manufactures. When 

 by increased skill and the invention of improved 

 machinery in manufactures one man becomes ca- 

 pable of doing as much as eight or ten could be- 

 fore, it is well known that, from the principle of 

 home competition and the consequent great increase 

 of quantity, the prices of such manufactures will 

 greatly fall ; and, as far as they include the ne- 

 cessaries and accustomed conveniences of labour- 



