An Inquiry into the Permanent Causes of the Decline and Fall of Powerful and Wealthy Nations. - Designed To Shew How The Prosperity Of The British Empire - May Be Prolonged by William Playfair
page 241 of 470 (51%)
page 241 of 470 (51%)
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[end of page #152] The dealers in an article of ready sale, or for which there is a certain demand, have never any difficulty, in a wealthy country, of procuring money to make purchases, or to enable them to keep their stock; and the gains are so immense that there is no speculation equally attractive. As the rent of land, in England, is reckoned at twenty-five millions a year; and it is reckoned that, in a common year, the rent is worth one- third of the produce; it follows that, of all sorts of produce of land, the value is seventy-five millions. But, in the year 1799, when the prices were more than doubled, the value was one hundred and fifty millions, of which the landlord received (as usual) twenty-five to his share, leaving for the farmer, &c. one hundred and twenty-five, instead of fifty, the usual sum. As the wages of servants remained the same, and, in an ordinary year, would amount to one-third of the rent, eight millions went for that, leaving one-hundred and seventeen millions, in place of forty-two, the usual residue. Two-thirds of the value of rent, or sixteen millions, is, in an ordinary year, supposed to go for seed, the maintenance of cattle, and labourers; so that, in that year, the portion so consumed must be estimated at double value, or thirty-four millions, which, deducted from one hundred and seventeen, leaves eighty-three for the farmers, in place of twenty-five, in an ordinary year: so that, when the price doubles, the farmers =sic= profit does more than triple. In the year 1799, the farmers were known to have the profit of four ordinary years, supposing that they had been the actual sellers in the market. The fact was otherwise no doubt, with regard to |
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