Rent then has been traced to the same common nature with that
general surplus from the land, which is the result of certain
qualities of the soil and its products; and it has been found to
commence its separation from profits, as soon as profits and
wages fall, owing to the comparative scarcity of fertile land in
the natural progress of a country towards wealth and population.

Having examined the nature and origin of rent, it remains for
us to consider the laws by which it is governed, and by which its
increase or decrease is regulated.

When capital has accumulated, and labour fallen on the most
eligible lands of a country, other lands less favourably
circumstanced with respect to fertility or situation, may be
occupied with advantage. The expenses of cultivation, including
profits, having fallen, poorer land, or land more distant from
markets, though yielding at first no rent, may fully repay these
expenses, and fully answer to the cultivator. And again, when
either the profits of stock or the wages of labour, or both, have
still further fallen, land still poorer, or still less favourably
situated, may be taken into cultivation. And, at every step, it
is clear, that if the price of produce does not fall, the rents
of land will rise. And the price of produce will not fall, as
long as the industry and ingenuity of the labouring classes,
assisted by the capitals of those not employed upon the land, can
find something to give in exchange to the cultivators and
landlords, which will stimulate them to continue undiminished
their agricultural exertions, and maintain their increasing
excess of produce.