CHAP. IV.
Effects of the Bounty on the Profits of the Farmer.
We have already seen that the contract which the landlord has to make with the farmer necessarily reduces the profit of the farmer to the very lowest consistent with the nature of his business; whatever may be the price of the commodity which he raises. There is another circumstance which, independently of this contract, would speedily produce the same effect, and prevent any bounty whatever from contributing to the improvement of agriculture.
Those persons must be ignorant indeed, who need to be told that there is a balance of profits in all the different species of business carried on in any country. The percentage is not indeed exactly the same. Because some trades are less agreeable than others; some have more risk; and for those circumstances it is reasonable that a compensation should be made. But it is plain that reckoning all the agreeable, and all the disagreeable circumstances as profit or loss in every trade, there is an exact equality of profit in all the branches of free trade in any country. Any particular branch may obtain a temporary ascendency, but it is soon reduced by the influx of rivals in the trade, who naturally flock to the most gainful business.
