Nor is it possible that these rents should permanently remain
as parts of the profits of stock, or of the wages of labour. If
such an accumulation were to take place, as decidedly to lower
the general profits of stock, and, consequently, the expenses of
cultivation, so as to make it answer to cultivate poorer land;
the cultivators of the richer land, if they paid no rent, would
cease to be mere farmers, or persons living upon the profits of
agricultural stock. They would unite the characters of farmers
and landlords - a union by no means uncommon; but which does not
alter, in any degree, the nature of rent, or its essential
separation from profits. If the general profits of stock were 20
per cent and particular portions of land would yield 30 per cent
on the capital employed, 10 per cent of the 30 would obviously be
rent, by whomsoever received.

It happens, indeed, sometimes, that from bad government,
extravagant habits, and a faulty constitution of society, the
accumulation of capital is stopped, while fertile land is in
considerable plenty, in which case profits may continue
permanently very high; but even in this case wages must
necessarily fall, which by reducing the expenses of cultivation
must occasion rents. There is nothing so absolutely unavoidable
in the progress of society as the fall of wages, that is such a
fall as, combined with the habits of the labouring classes, will
regulate the progress of population according to the means of
subsistence. And when, from the want of an increase of capital,
the increase of produce is checked, and the means of subsistence
come to a stand, the wages of labour must necessarily fall so
low, as only just to maintain the existing population, and to