Page:William Petty - Economic Writings (1899) vol 1.djvu/189

Rh Money in England to raise the French Money double, or to abate half of the price of our Cloth? I think the former, because that former way or proposition carries with it a condition of having Forreign Money in specie, and not Canvas in barter, between which two wayes the world generally agrees there is a difference. Wherefore if we can afford to abate half our price, but will not do it but for our neighbours money, then we gain so much as the said difference between Money and Barter amounts unto, by such raising of our Neighbours Money.

17. But the fundamental solution of this Question depends upon a real and not an imaginary way of computing the prices of Commodities; in order to which real way I premise these suppositions: First then, suppose there be in a Territory a thousand people, let these people be supposed sufficient to Till this whole Territory as to the Husbandry of Corn, which we will suppose to contain all necessaries for life, as in the Lords Prayer we suppose the word Bread doth; and let the production of a Bushel of this Corn be supposed of equal labour to that of producing an ounce of Silver. Suppose again that a tenth part of this Land, and tenth of the people, viz. an hundred of them, can produce Corn enough for the whole; suppose that the Rent of Land (found out as above-mentioned) be a fourth part of the whole product, (about which proportion it really is, as we may perceive by paying a fourth Sheaf instead of Rent in some places) suppose also that whereas but an hundred are necessary for this Husbandry, yet that two hundred have taken up the Trade; and suppose |70| that where a Bushel of Corn would suffice, yet men out of delicacy will use two, making use of the Flower onely of both. Now the Inferences from hence are;

First, That the goodness or badness, or the value of Land depends upon the greater or lesser share of the product given for it in proportion to the simple labour bestowed to raise the said Product.

Secondly, That the proportions between Corn and Silver errata: