e importation of corn
would prevent any great difference in the price of raw produce, it would
prevent any great difference in the quantity of capital laid out upon
the land, and the quantity of corn obtained from it; that, consequently,
the great increase of wealth could not take place without a great
dependence on the other nations for corn; and that this dependence,
under the circumstances supposed, would be the natural sign, and
absolutely necessary consequence of the increased wealth and population
of the country in question.

These I consider as the two alternatives necessarily belonging to a
great comparative increase of wealth; and the supposition here made
will, with proper restrictions, apply to the state of Europe.

In Europe, the expenses attending the carriage of corn are often
considerable. They form a natural barrier to importation; and even the
country which habitually depends upon foreign corn, must have the
price of its raw produce considerably higher than the general level.
Practically, also, the prices of raw produce, in the different countries
of Europe, will be variously modified by very different soils, very
different degrees of taxation, and very different degrees of improvement
in the science of agriculture. Heavy taxation, and a poor soil, may
occasion a high comparative price of raw produce, or a considerable
dependence on other countries, without great wealth and population;
while great improvements in agriculture and a good soil may keep the
price of produce low, and the country independent of foreign corn,
in spite of considerable wealth. But the principles laid down are
the general principles on the subject; and in applying them to any
particular case, the particular circumstances of such case must always
be taken into consideration.

With regard to improvements in agriculture, which in similar soils is
the great cause which retards the advance of price compared with the
advance of produce; although they are sometimes very powerful, they are
rarely found sufficient to balance the necessity of applying to poorer
land, or inferior machines. In this respect, raw produce is essentially
different from manufactures.

The real price of manufactures, the quantity of labour and capital
necessary to produce a given quantity of them, is almost constantly
diminishing; while the quantity of labour and capital, necessary to
procure the last addition that has been made to the raw produce of a
rich a