t the same time. If we had this invariable standard, we might
easily ascertain in what degree either of these causes operated. If
salmon continued to sell for 1_l._ whilst deer rose to 3_l._ we might
conclude that more labour was required to obtain the deer. If deer
continued at the same price of 2_l._ and salmon sold for 13_s._ 4_d._ we
might then be sure that less labour was required to obtain the salmon;
and if deer rose to 2_l._ 10_s._ and salmon fell to 16_s._ 8_d._ we
should be convinced that both causes had operated in producing the
alteration of the relative value of these commodities.

No alteration in the wages of labour could produce any alteration in the
relative value of these commodities; for if profits were 10 per cent.,
then to replace the 100_l._ circulating capital with 10 per cent.
profit, there must be a return of 110_l._: to replace the equal portion
of fixed capital, when profits are at the rate of 10 per cent. there
should be annually received 16.27_l._; for, the present value of an
annuity of 16.27_l._ for ten years, when money is at 10 per cent., is
100_l._; consequently all the game of the hunter should annually sell
for 126.27_l._ But the capital of the fisherman being the same in
quantity, and divided in the same proportion into fixed and circulating
capital, and being also of the same durability, he, to obtain the same
profits, must sell his goods for the same value. If wages rose 10 per
cent. and consequently 10 per cent. more circulating capital were
required in each trade, it would equally affect both employments. In
both, 210_l._ instead of 200_l._ would be required in order to produce
the former quantity of commodities; and these would sell precisely for
the same money, namely 126.27_l._: they would therefore be at the same
relative value, and profits would be equally reduced in both trades.

The prices of the commodities would not rise, because the money in which
they are valued is by the supposition of an invariable value, always
requiring the same quantity of labour to produce it.

If the gold mine from which money was obtained were in the same country,
in that case, after the rise of wages, 210_l._ might be necessary to be
employed, as capital, to obtain the same quantity of metal that 200_l._
obtained before: for the same reason that the hunter and fisherman
required 10_l._ in addition to their capitals, the miner would require
an equal addition to his. No greater quantity of labo