If A Tax On Malt Would Raise

I Have Already Expressed My Opinion On This Subject In Treating Of Rent, And Have Now Only Further To Add, That Rent Is A Creation Of Value, As I Understand That Word, But Not A Creation Of Wealth.

A Rise Of Wages From This Cause Will, Indeed, Be Invariably Accompanied By A Rise In The Price Of Commodities; But In Such Cases, It Will Be Found That Labour And All Commodities Have Not Varied In Regard To Each Other, And That The Variation Has Been Confined To Money.

It Appears To Me That One Great Cause Of Our Difference In Opinion On Subjects Which We Often Discuss Is That You Have Always In Mind The Immediate And Temporary Effects Of Particular Changes, Whereas I Put These Effects Quite Aside, And Fix My Whole Attention On The Long-term Effects That Will Result From Them.

As The Revenue Of The Farmer Is Realized In Raw Produce, Or In The Value Of Raw Produce, He Is Interested, As Well As The Landlord, In Its High Exchangeable Value, But A Low Price Of Produce May Be Compensated To Him By A Great Additional Quantity.

I Have Endeavoured To Show That The Ability To Pay Taxes Depends, Not On The Gross Money Value Of The Mass Of Commodities, Nor On The Net Money Value Of The Revenue Of Capitalists And Landlords, But On The Money Value Of Each Man's Revenue Compared To The Money Value Of The Commodities Which He Usually Consumes.