will { 255 0 } will { 465 0 0
at { 4 16 0 } receive { 264 0 } receive { 456 0 0
{ 5 2 10 } { 274 5 } { 445 15 [12]

And supposing that the original capital of the farmer was 3000_l._, the
profits of his stock being in the first instance 480_l._, would be at
the rate of 16 per cent. When his profits fell to 473_l._, they would be
at the rate of 15.7 per cent.

465_l._ 15.5
456_l._ 15.2
445_l._ 14.8

But the _rate_ of profits will fall still more, because the capital of
the farmer, it must be recollected, consists in a great measure of raw
produce, such as his corn and hay-ricks, his unthreshed wheat and
barley, his horses and cows, which would all rise in price in
consequence of the rise of produce. His absolute profits would fall from
480_l._ to 445_l._ 15_s._; but if from the cause which I have just
stated, his capital should rise from 3000_l._ to 3200_l._ the rate of
his profits would, when corn was at 5_l._ 2_s._ 10_d._, be under 14 per
cent.

If a manufacturer had also employed 3000_l._ in his business, he would
be obliged in consequence of the rise of wages, to increase his capital,
in order to be enabled to carry on the same business. If his commodities
sold before for 720_l._, they would continue to sell at the same price;
but the wages of labour, which were before 240_l._, would rise when corn
was at 5_l._ 2_s._ 10_d._ to 274_l._ 5_s._ In the first case he would
have a balance of 480_l._ as profit on 3000_l._, in the second he would
have a profit only of 445_l._ 15_s._, on an increased capital, and
therefore his profits would conform to the altered rate of those of the
farmer.

There are few commodities which are not more or less affected in their
price by the rise of raw produce, because some raw material from the
land enters into the composition of most commodities. Cotton goods,
linen, and cloth, will all rise in price with the rise of wheat; but
they rise on account of the greater quantity of labour expended on the
raw material from which they are made, and not because more was paid by
the manufacturer to the labourers whom he employed on those commodities.

In all cases, commodities rise because more labour is expended on them,
and not because the labour which is expended on them is at a higher
value. Articles of jewellery, of iron, of plate, and of copper, would
not rise, because none of the raw produce from t