€OTiy.— Dry Urnd. 1(59 



the valuable spices for instance, — prices would per- 

 haps he the 3ame even if rent were not to he paid, 

 because they are, in a great measure, natural mo. 

 nnpolies, 



While the rent of rice^land depends greatly on the 

 pn>duct\ that of dry land will he regulated print 

 pally hv the situation of the latter. Coffee, spices, 

 or sugar are not absolutely necessary to support life. 

 They might he dispensed with altogether without 

 jend inhering* man's existence. The demand for them 

 will always, therefore, be the cause of their price, and 

 ao it will be of rent. 



It has been shewn hef >re, that as yet, the rent here 

 of valuable produce, such as of spices, cocoanuls, &,c> 

 hears an unequal proportion to the original outlay 

 of capital, so as often to induce the proprietors to 

 m mage their own estates. This arises from want of 

 competition and capital, from ignorance of the mode 

 of managing- the different kinds of cultivation, and in 

 some degree* from the fluctuating nature of prices 

 aod risks m general. 



It i* quite clear that, until the capital originally ex- 

 pended on valuable dr\ cultivation, with the customa- 

 ry profits thereon, has been recovered, there can pro- 

 perly be neither rents nor profits, the apparent profits 

 being 1 only interest on the capita! ; and thai, if the 

 demand will not suffice to return this capital, and 

 a fair addition beyond that, the pursuit must cease. 

 The risks sometimes are great, even wheif the person 

 running thern is the actual landlord, and would be 

 increased were he only to be a tenant. 



Supp ngtugi for instance, that a cocoanut or spice 

 planter were to take dry land on a 20 years' lease ; 

 one- third of that period will have passed before re- 

 turns to any amount come in ; and how many years 

 beyond this will sutfke t<> repay the original and cur- 



