corn whether one person produces it, or whether two produce in partnership. Hence in strict accordance with the theories of Anderson and Ricardo, it is perfectly proved that if the landlords were to forego their rents, it would have no effect on the price of corn, but the price would simply go into the pockets of the farmers.

10. It is very strange that Ricardo, who agreed that Rent does not influence the price of corn, maintains that Tithes do. He says "Tithes are a tax on the gross produce of the land, and like taxes on raw produce, fall wholly on the consumer." Now it is quite manifest that Tithes are a share of the produce, just as rent is. If a farmer has to pay tithes as well as rent, it is quite clear that the produce of the farm is divided into three parts instead of two. But still the same Supply is brought to market, and there is the same Demand for it. Therefore its price cannot be altered. The produce is shared between the Landlord, the Tenant, and the Parson, but that can have no effect on price. Therefore the distinction made by Ricardo between Rent and Tithes is entirely erroneous. The distinction between a Tax on the Produce and a Share of the Produce, or the Profits, will be found to be of the greatest importance hereafter in the Theory of Taxation.

11. Now although we have arrived at exactly the same practical result as Ricardo, yet this is no immaterial dispute about words, it is not mere logomachy, but it is a fundamental difference of principle between two distinct systems of Economics. What we say is, that Ricardo has plainly inverted cause and effect. That his views and principles are as entirely fallacious as if he had composed a treatise on heat, and laid it down as a fundamental principle, that it is the rise of the mercury in the thermometer that regulates the heat of the atmosphere, or that the rise of the mercury in the barometer causes fine weather. And those who admire Ricardo's principles of Political Economy, ought in consistency to maintain the two latter propositions.

It is so extremely important to understand the nature of the fallacy which runs through the whole of the Ricardian system of 1 Principles, ch. 11.

Political Economy, that we may give another illustration. It is well known that the cultivation of certain agricultural products, and the climate they can flourish in, are intimately connected. At certain points the cultivation of maize, the vine, olives, the palm, ceases, and it is possible to ascertain by experience the average temperature of the country in which these things occur. Now, reasoning exactly as Ricardo does, we ought to say, that the boundaries of the cultivation of these products regulate the climate of that place; when it is manifestly the reverse, it is the climate that regulates their production. The cultivation of a certain vegetable may indicate the climate, but it does not regulate it, any more than the speed of the paddle wheels regulates the motion of the engines. The whole of Ricardo's palpable fallacy is based upon a misconception of the meaning of to regulate.

Or again, there is a certain kind of letter weight which indicates the weight of the letter by raising a series of weights in succession; now it is quite clear that it is not the last weight raised which regulates the weight of the letter; but the weight of the letter which regulates which is the last weight which will be raised.

We must stop here for the present, and defer many important considerations till the next chapter. We have now shewn the entire fallacy of the Ricardo Theory of Rent; and brought the class of commodities it relates to, under the dominion of the General Equation of Economics. That the Ricardo theory should be true was contrary to the whole analogy of Physical Science. But the Principle of the Continuity of Science is completely vindicated, and there is seen the beautiful conformity between the Principles of Natural Philosophy and Reality, and a great triumph for the prophetic genius of Bacon.

END OF VOLUME I.

JOHN KING & Co., 35, Old Jewry, and the Queen Street Printing Works, E.C.