Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1832-06-29

long dine enjoyed the greatest prosperity its popua4
hon and its capital increase 10 such degree that no mode
OF profitable investment is left for the latter of course
the former cannot progress This, certainly has been
the case in regard TO Eastern Virginia.
Whatever difference OF opinion may exist the re.
mote all must admit that comparatively low of pro-
his The Immediate of national depression coun-
tries where the security of property is well established
the rate of profit is the nfbe criterion OF prosperity
Whenever such countries anguish, may sure that
something deprcsses the profits OF their capital.
dminuton OF the power TO employ capital with adj
vantage resulting from decrease in the fertility OF the
SOIL tnaIhbly produce TALL OF profits. All the pro-
duce oil industry either 10 the of hnd nrent
TO the owner OF stock in proS, to the manual aborcr
in tcdges. As the proportion of rent is fixed bv pecor
and intrinsic rules, and the residue is divided between
the capitalists and aborers il plain that the share
one increases that Of the other diminish Whatever
has tendency toincrease wages in like manner les
sen profits Real or proportional wages said de-
pend the proportion of the joint product labor
pital which belongs 10 the hborer Necessary wages
that amount which is requisite for the subsistence of the
aborer and his family. The latter is paid by the plant
ers OF Eastern Virginia. Now, whenever the that
subsistence the portion of the produce which reqn-
site for the support Of the laboer and his family
poporonably greater it is clear, that the profits Of the
planter must be diminished.
Man can only live by the sweat of his brow: Such is
the decree of heaven. He has frequeAtly contend
with ungrateful soil, from which a continued applca-
ton OF labor can only extract continually decreasing
turn The mode, in which decrease in the fertility of
the soil affects the of subsistence and by conse-
quence increases and reduces profits obvious
scarcely cquire illustration. The amount necessary
for the maintenance OF the aborer cannot be dminsed
he must exist himself and be enabled his race
And il, therefore, from the impovcshmen of the SOIL
the produce shall he less the profits of the planter must
be diminished; and thus the wages of labor would be in
creased, not indeed in amount but in proportion the
profits.
1t be denied that the average fertility of the
soil OF Eastern Virginia has considerably diminished: it
may not be true in particular farms of pc
cuior fertility, and advantageous situation with regard
market may have been improved; but how few they
in comparison with those which have been reduced TO
barenneSs by continued cultivation. Taking il for grant
ed then, that the fertility of soil has diminished ii
with great proprcty be asked, why this should be
the with regard to Eastern Virgnia than any other
section of the Unon which must equally labor under the
same dicultythe perpetual tendency land 10 decrease
in fertility, under the effects of continued cultivation?
Now the capital expended in the improvement of land,
must be carefully distinguished from the land itself for its
application is governe% by the laws which regulate
the investment of other capital in the country that is,
by the amount OF profit which may be received If tere
Ore the rate of agricultural profit be below capital will
evidently seek some other investment the coun-
try. We must, therefore, endcavor to find some ohe
than the decreased fertility of the soil for the
para,ively low of profit in Eastern Virginia, and in
that way explain why IL is that lands have not been
improved.
Where nation has been for long time increasing in
wealth and population, may at length reach state, when
il shall be necessary to apply its capital very inferior
soils, or with diminished return to those fertile.
The profits OF country in such situation be redu
ced; but from rremedabe and therefore not be
amented. But we have yet attained the greatest
height of prosperity, and the fall OF profits be
premature 1t is not that we compelled TO to
soils inferior TO those first brought into cultivation but that
our best soils have become inferior that have
improved our lands TO such degree that any farther
provement has become improbable, but that have not
been able 10 improve them at all The decreased fertility
OF our soil has been caused by low profits, and its tenden-
cy is 10 reduce them still lower Our enquiry there
FORE must be extended still higher, and search
for those which have rendered unable
our soil from becoming sterile by making its improvement
Improbable.
2. Effect Of Idration on profts.-The only mode by
which the growth OF the wealth and population of
try can be eectuay stopped, is by permanent reduc-
ton OF the profits of its capital 1t has been shewn above
that this will certainly happen when country has reach
ed such an advanced state TO render necessary in
der TO support redundant populaon have
very interior Soils apply capital to those already
in cultivation with reduced return But it may also hap
pen prenaurely, by the baneul influence OF heavy
alton And is TO that cause that the declining condition
OF Eastern Virginia has been ascbed by general OPT
Mon OF its citizens who, being the sufferers ought
tainy to know best in what manner they afflicted
The various modes of appropriang part of the income
OF the people to the OF Government have been each
frequently adopted that it would he supposed that hei
different effects were by this time well known and es
iablsed But this is far from being the case 1t vii
not however, be questioned that any the
rieS oil lite must either diminish the aborer's supply of
OF increase ms wages and oil course reduce the pro
hts OF capital The wages of labor in Eastern Virginia
the necessary subsistence of the aborer and his family
Whatever therefore increases the cost of that subsistence
has dencaly the same effect increase in the wage
OF labor II farmer who has been in the habit of gvin
two shngs yard for the clothing his aborers be com
PEELED TO pay three his profits be diminished by al
amount equal to the increased of the clothing
But TO this it may be possibly objected, that the arme
will be compensated in the increased price of his produce
To ascertain the force OF this objection may be
TO consider whether rise Of wages does actually ncrea
the price of commodities If wages should rise mrmc
could not demand from the halter, shoemaker or taor Al
increased price for his corn they would reply that In
rise OF wages had affected them in an equal degree
II he should persist, he would certainly be conDecd
pay higher price for his hats, shoes and clothes Til
relative value Of the commodities would not be altered;
could make no difference to the farmer whether he sold hi
corn at the former price, and gave the same for every com
modify he might want TO buy, sold il at an advance
price and paid higher for every thing II barrel of cor
should he exchanged for pair of shoes rise
wages the same would continue be done after the ria
had taken place 1t may therefore be laid down as ge
neral rule, that the relative value of commodities in In
production of which equal quantity of labor emnlov
ed, cannot be affected by of wages Where comma
des produced by durable machnery as i'm the manu-
iacurc of CLOTH &c II is evident that cost of their o
ducuon cannot be Affected by rise OF wages in the SAM
degree, those which almost entirely produced by ma
nuai labor But III Eastern Virginia we have verv iul
oil such machinery; that with regard 10 the inerclang
which takes place among citizens of their dTcren
products, the rise OF wages, resulting from an increase il
the cost Of subsistence affect price We also pro
duce commodities for the purpose of expectation or ex
change in foreign markets; but it is needless TO consde
whether can throw the burden of any tax which in
cTeases the cost OF the subsistence of our aborcr on fin
foreign purchaser Of tobacco IL impossi
be Tor one nation TO throw the burden of its taxes on ano
meT except ny TIE strong of power subjection-
Whatever amount OF tax planters incur in supporting
their aborers, must be inevitably subractcd from ei
profits We may therefore conclude that the average pro
fat OF the capital OF Eastern Virginia essencd by Tin
taxes paid by its citizens Then the enanrv arises yyhe
nation Of our wealth and population
Many nations have doubtless become both wealthy AM
populous, whose burden of taxation far exceeded any
which we have ever been subjected II will heref,re IN
necessary TO enquire whether are peculiarly afctc
by the mode of taxation which has been adoptcd kv nj,
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