9 September, 1831.
the Island of Great Britain by additional tracts of fertile land, the public interests would be injured by such enlargement; this would be monstrously absurd. It is not less absurd to object to the increase of food available for human beings, by substituting mechanical power for horses.
In addition to the advantages you have already anticipated from the introduction of Steam conveyance, would not the increased speed and cheapness of intercourse occasion vast public benefits in which agricultural capitalists and labourers must greatly partake?—Certainly.
As it impossible to conceive that Steam should be generally substituted for horses, and be confined only to the conveyance of travellers, and, as it would necessarily be employed as Vans and Coaches are at present, for the speedy conveyance of light goods as well as travellers, (by the hypothesis Steam Carriages being cheaper than horse draft, or it would not be used), would not such cheapening of the conveyance of such goods have a considerable effect upon the demand for them, and thereby for labour and food?—On the principles that have been already stated with respect to agriculture, the cost of bringing all things to market is comprised of the cost of production and the cost of carriage. Reducing the cost of carriage is precisely the same thing in its effects as reducing the immediate cost of production, consequently the conveyance of light goods by Steam power, must cheapen all such goods to the consumers. This will necessarily enable them to consume a greater quantity of such goods, and the consumption of the greater quantity will enlarge the demand for labour, call a larger manufacturing population into existence, and thereby re-act on agriculture by increasing the demand for food. This cheaper mode of internal carriage will not only lower the price of light and refined manufactures to the Home consumer, but will lower their price also to the Foreign consumer. This will increase the advantages which we at present possess in the Foreign market, and tend to increase our Foreign commerce. So that here again there will be an
