es or foreign commodities,
with the little surplus which he may possess. If, for instance, under a
stationary population, we suppose, that in average families two thirds
of the wages estimated in corn are spent in necessary provisions, it
will make a great difference in the condition of the poor, whether the
remaining one third will command few or many conveniencies and comforts;
and almost invariably, the higher is the price of corn, the more
indulgences will a given surplus purchase.

The high or low price of provisions, therefore, in any country is
evidently a most uncertain criterion of the state of the poor in that
country. Their condition obviously depends upon other more powerful
causes; and it is probably true, that it is as frequently good, or
perhaps more frequently so, in countries where corn is high, than where
it is low.

At the same time it should be observed, that the high price
of corn, occasioned by the difficulty of procuring it, may be considered
as the ultimate check to the indefinite progress of a country in wealth
and population. And, although the actual progress of countries be
subject to great variations in their rate of movement, both from
external and internal causes, and it would be rash to say that a state
which is well peopled and proceeding rather slowly at present, may
not proceed rapidly forty years hence; yet it must be owned, that the
chances of a future rapid progress are diminished by the high prices of
corn and labour, compared with other countries.

It is, therefore, of great importance, that these prices should be
increased as little as possible artificially, that is, by taxation.
But every tax which falls upon agricultural capital tends to check
the application of such capital, to the bringing of fresh land under
cultivation, and the improvement of the old. It was shown, in a former
part of this inquiry, that before such application of capital could
take place, the price of produce, compared with the instruments of
production, must rise sufficiently to pay the farmer. But, if the
increasing difficulties to be overcome are aggravated by taxation, it
is necessary, that before the proposed improvements are undertaken, the
price should rise sufficiently, not only to pay the farmer, but also the
government. And every tax, which falls on agricultural capital, either
prevents a proposed improvement, or causes it to be purchased at a
higher price.

When new leases are let, these taxe