Page:William Petty - Economic Writings (1899) vol 1.djvu/279

Rh deducing the hire of Working-People in it. And this brings me to the most important Consideration in Political Oeconomies, viz. how to make a Par and Equation between Lands and Labour, so as to express the Value of any thing by either |64| alone. To which purpose, suppose two Acres of Pasture-land inclosed, and put thereinto a wean'd Calf, which I suppose in twelve Months will become 1 C. heavier in eatable Flesh; then 1 C. weight of such Flesh, which I suppose fifty days Food, and the Interest of the Value of the Calf, is the value or years Rent of the Land. But if a mans labour for a year can make the said Land to yield more than sixty days Food of the same, or of any other kind, then that overplus of days food is the Wages of the Man; both being expressed by the number of days food. That some Men will eat more than others, is not material, since by a days food we understand $1/100$ part of what 100 of all Sorts and Sizes will eat, so as to Live, Labour, and Generate. And that a days food of one sort, may require more labour to produce, than another sort, is also not material, since we understand the easiest-gotten food of the respective Countries of the World.

As for example, I suppose a pint of Oatmeal equal to half a pint of Rice, or a quart of Milk, or a pound of Bread, or a pound and quarter of Flesh, &c. each, in the respective place where each is the |65| easiest gotten food. But if Rice be brought out of India into Ireland, or Oatmeal carried from Ireland thither; then in India the pint of Oatmeal must be dearer than half a pint of Rice, by the freight and hazard of Carriage, & vice-versa, & sic de cæteris. For, as for pleasant tast, I question whether there be any certainty, or regularity of the same in Nature, the same depending upon Novelty, opinion of Virtue, the recommendation of others, &c. Wherefore the days food of an adult Man, at a Medium, and not the days labour, is the common measure of Value, and seems to be as regular and constant as the value of fine Silver. For an ounce, suppose, of Silver in Peru is equivalent to a days food, but the same in Russia is equivalent to four days