corn* . — Ren Is — Capital, J a 1 



sent for all land, agreeably to the statements which 

 have been before given, is nearlj one-fith. But it is 

 believed that lire rate of profits in tiie latter in- 

 instance is much higher than in the former, But the 

 tenant ami his family are also the labourers? S3 that 

 lie, with some items of expense deducted, actually re- 

 ceives all but the rem. 



But Adam Smith has laid down, that a larger pro- 

 portion <<•' produce should l:<> tn the landlord in rice 

 than in corn, meaning, wheat countries, owing* to the 

 difference in the cost of cultivating- each. 



In this paper, rice has lw?en considered as corn, for 

 what are we to understand by that term but the 

 indigenous grain food of any particular country? 



It is not desirable that very large capitals si muhl 

 be here invested in grain land by a few individuals, 

 as, from the limited extent of territory, this might he- 

 come a sort of monopoly ; and because, if carried be- 

 yond a certain print, consumption will he cheeked 

 and population retarded : nor can it be desirable: 

 that too minute a subdivision should take effect so as 

 to place land in the hands of those who cannot afford 

 to improve it. But in other kinds of land the more 

 capital which can he embarked the greater will be 

 the stimulus to industry and to population, and the 

 greater the benefit to the State and to society. 



/Is matters now rest, the lessee for a period of 

 five years of cultivated land might easily recover his 

 capital as well as profits, provided the rent was mo- 

 derate ; yet the landlord would reap in the end the 

 benefit of this capital in as full a manner as if it had 

 not been withdrawn. In fact, it would remain with 

 the land. 



It is plain that in a lease for a much longer period 

 than five years, say for 20 years, the tenant might, 

 without any considerable outlay of capital, aud by an 



