104 
On the Source of Wealth. 
[April, 
because numbers spring into being, while increasing food is obtainable for them ; 
and a greater quantity of food must have been obtainable than actually was realized, 
if any number, less than five, were employed in this cultivation. In the case above 
given, it may be supposed, that our labour was continual ; that is, day by day, the 
work of five was expended. Now it might very eavly be discovered, that the twelve 
months' continued labour of 5, might be far inferior, in point of productiveness, 
to the work of 25 labourers, for a fifth part of the year ; the time chosen for set- 
ting these to work, being determined, as it would be, by the suitableness of 
the season. This, however, cannot be done without the possession of an accumu- 
lation of food, equal to the support of the labourers while thus engaged. Suppose 
that I obtain such an accumulation of food, and employ it in cultivation, and 
that the following is the consequence : — formerly 5 men laboured through the year, 
and realized, say 10 measures each : say also 10 more measures were required 
for seed ; the gross produce was 60 measures. Now I advance subsistence for 25 
labourers for a fifth part of the year, or 50 measures, and for seed 10, total 60 ; 
and at the end of the year, in consequence of the greater efficacy of seasonable 
labour, I find an excess beyond this, equal to the support of myself and family ; 
the gross produce realized being 110 measures. I have assumed, that seasonably 
applying labour, fits the soil, so much better, for the reproduction I sought, as to 
give off a ten-fold increase for human consumption ; whereas the net increase for- 
merly obtained was five-fold. I and my family have, however, ceased to consider, 
as our gain, the whole produce beyond seed ; the former amount of produce has 
become productive capital, and must be reserved for next year’s operation. The 
capital sunk was 60 measures ; and the clear surplus gain, on which I now depend, 
the profits of my capital, were 50 more : this was my aggregate of gain, and my 
rate of profit was nearly 84 per cent. What seed formerly was to reproduction, 
in the eye of the person then principally concerned in the cultivation, so is capi- 
tal now, which includes both seed, and the advance for labour ; that only being 
now looked upon as net gain, which is in excess to both. 
Having now sunk so much capital in cultivation, my rate of profit being 84 per 
cent, and my aggregate of gain being 50 measures, it by no means follows, that 
this is the greatest aggregate return obtainable, or that this rate of profit, is what 
shall Be permanent ; the success of obtaining an equally great income as formerly, 
for the support of my family, without their being necessitated to labour, which has 
attended this investment of 60 measures in production, may lead me to try whether 
a greater outlay will not again tend to my further enrichment ; I, accordingly 
sink, say 110 measures in cultivation at some future time, and employ, in proper 
season, double the number of workmen, and find the following to be the result : 
I realize a gross produce of 10 measures to replace seed, 100 to repay the advance 
for 50 labourers, and net profit 55 measures ; total gross proceeds 165. Here we 
see, that I have gained my point in obtaining a larger aggregate of profit. The 
relation of outlay and profit were formerly as 60 to 50 : and they are now as to 
110 to 55 ; or, in other words, the rate of profit has fallen from nearly 84 to 50 
per cent. Being again successful, I will proceed, therefore, in this course of enrich- 
ment as far as possible : my outlay is again increased by the employment of, say 
25 labourers more, or for seed, 10 measures ; for 75 labourers 150 ; total outlay i° 
capital 160 : and my gross return on this occasion proves to be, say 220 measures: 
here again I am enriched ; my aggregate of profits being 60 measures in place of 
55 ; although the rate of my profits has fallen from 50 to less than 38 per cent. 
Suppose I proceed, and sink 200 measures in outlay, and that my gross proceeds 
are, on tins occasion, 259 : I find that I have over cultivated ; that my aggregate 
