date

20 Decr 1801 Maximum Ulteriora
20 Decr 1801

Maximum

Ulteriora

Bounty &c […?]

Magazines

1

11

I have heard of a plan for ordering /an intention so to order/ matters that /an

arrangement by which/ the price of wheat shall be made or at least permitted to

rise as high as 10s a bushel, I suppose by restraint on importation till it has

arrived at that mark: and I have heard that price admitted to be sufficient,

though not more than sufficient, but the means insufficient, unless a bounty on

export be of the number.

If what is above observed respecting the want of land be just, that or any still

higher price with or without the /a/ bounty will be inadequate, and if a bounty

be given, the amount of it will be so much thrown away. The quantity of

cultivated land not being augmented, or at least not being augmented in

proportion to the existing deficiency of corn /agricultural produce/, added to

the growing superflux of population, whatever quantity is added to corn will be

so much taken from other produce. As to the bounty so much as it amounts

/amounted/ to , by so much would the scarcity and price of the aggregate of all

agricultural produce taken together be enhanced. So much more corn as was

produced in consequence so much less of other agricultural produce would be

producible by the same land: and of the extra quantity of corn produced, a part

at least is proposed to be and by the supposition must be, exported /sent/ out

of the country. What part and what proportion it may bear to the whole

extra
Similar Items
  • Title: [20 Dec.r 1801 Maximum Ulteriora]
    Description: 20 Dec.r 1801

    Maximum

    Ulteriora

    Bounty &c […?]

    Magazines

    2

    12

    produce, the expected fruit of the bounty, is what I will not pretend to give the

    most random guess at: any more than what it would be necessary the bounty should

    be in order to pay foreigners for coming for their corn to a country labouring

    under an habitual dearth and scarcity. Produce, I am aware, may be augmented in

    certain circumstances, otherwise than by augmenting the quantity of land in

    culture. The quantity of mineral manure and labour might be encreased at any

    time; the quantity of vegetable and animal manure might be encreased in time.

    But the addition from this source to the means of produce (without addition to

    land) would take place in regard to such lands as were understocked /the bounty

    should find understocked/ with capital at that time: besides that a part of it

    would even in that case be added by the farmer to his fund /provision/ of

    present stock of instruments of present enjoyment – to the unproductive part of

    his expenditure: whereas the bounty will /would/ be received as well for the

    produce of land unsusceptible of further improvement, as for the produce of the

    most improvable and scantily stocked lands.

    Insufficient against scarcity, these enhancements of the prices of corn will be

    still more palpably so against dearth, against enhancements of the aggregate of

    prices of all sorts of things taken together: for stopping the augmentation of

    the aggregate of prices – that is the depretiation /decrease/ of the value of

    money as applied to the purchase of vendible things of all sorts, there is but

    one course to take, which is to stop the augmentation in the quantity of it.
  • Title: [23 Decr 1801 Maximum Ulteriora]
    Description: 23 Decr 1801

    Maximum

    Ulteriora

    1

    The application of capital to agriculture can not keep pace with the accumulation

    of the aggregate mass of capital. It is kept back by circumstances /impediments/

    that do not apply in equal degree, if in any degree, to manufactures. The

    occupier of a farm below a certain size. So much land as is in small farms /in

    farms below a certain size/ is /stands/ excluded from the possibility of

    receiving improvement. He sets out with an insufficient capital. The advantages

    attendant on operations conducted upon a large scale are great /prodigious/ not

    only in manufactures but in agriculture. Where they are wanting to a certain

    degree accumulation can not take place. The magnitude of the farm is such as

    barely to afford sustenance for the occupier and his family. The produce, the

    profit and saving of the | | /each/ manufactures encrease ad infinitum in

    proportion to the encrease of the custom he has for his goods. No encrease of

    custom will enable even the most opulent farmer to produce a greater quantity of

    his goods than can grow upon the quantity of land he occupies. By accident he

    may obtain another farm, which by accident may happen to be situated within /at/

    a convenient distance, and by another accident may not be too large for the

    superfluous capital he has been able to lay /has at his command/. It is in this

    way the additions that can be made to the agricultural capital are made. But it

    may be seen even by this slight and superficial sketch how slow and uncertain

    the progress of accumulation must be in this track.
  • Title: [18 Decr 1801 Maximum Ulteriora]
    Description: 18 Decr 1801

    Maximum

    Ulteriora

    Render

    x5

    The following passage, from a work just published by Dr Render, points to facts,

    in their own nature notorious /matters of notoriety/, and such as at least may

    be worth enquiry.