This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1836 Excerpt: ...or in the Value and Price of Commodities. It may perhaps be necessary to repeat, in the first place, what has already been remarked, that it is not the surface alone of the land which affords rent, but also the bowels of the earth, whence minerals are drawn, and internal waters abounding in fish. The very same ...
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This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1836 Excerpt: ...or in the Value and Price of Commodities. It may perhaps be necessary to repeat, in the first place, what has already been remarked, that it is not the surface alone of the land which affords rent, but also the bowels of the earth, whence minerals are drawn, and internal waters abounding in fish. The very same principles apply to these, but at present I shall confine my observations more particularly to land taken in its more limited and usual signification. Rent, in its most general sense, is that portion of the gross produce of the land or waters which remains to the owner of these sources of wealth, after replacing the fixed capital expended, and paying according to the usual rate, the wages of labour, and the profits of the master-capitalist. But though this is the sense generally given to it in Political Economy, it is far from being always taken in this strict signification in the usual intercourse of society. It is constantly mixed up and confounded with the interest paid for Giving the most enlarged meaning to the word, Mr. Malthus has thus defined land. "The soil, mines, waters, and fisheries of the habitable globe. It is the main source of raw materials and food."--Definitions in Political Economy. the use of capital. Thus, when a farmer takes the lease of a certain extent of ground, the whole sum which he pays to the landlord goes under the denomination of rent, though some part of it may be in reality the interest or net profit of capital previously expended in ameliorating the soil. Another portion of the sum total is probably nothing more than a compensation paid for the use of a house and farm offices erected at the expense of the landlord. Now, the rent of a dwelling-house has nothing to do with the primary distribution of the gros...
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