CHAPTER VII. Continuation of the same subject.

Page

§ 1. Influence of peasant properties in stimulating industry 341

2. in training intelligence..

3. in promoting forethought and self-control

4. Their effect on population

344

CHAPTER VIII. Of Metayers.

§ 1. Nature of the metayer system, and its varieties

2. Its advantages and inconveniences

3. Evidence concerning its effects in different countries

4. Is its abolition desirable ?

§ 1. Irish cottiers should be converted into peasant proprietors 398

2. Inapplicability of this advice to present circumstances..

407

CHAPTER XI. Of Wages.

§ 1. Wages depend on the demand and supply of labour-in
other words, on population and capital

2. Examination of some popular opinions respecting wages

409

410

3. Certain rare circumstances excepted, high wages imply

4.

5.

restraints on population

- which are in some cases legal

in others the effect of particular customs

6. Due restriction of population the only safeguard of a

labouring class.

Page

417

421

424

: 426

CHAPTER XII. Of Popular Remedies for Low Wages.

§ 1. A legal or customary minimum of wages, with a guarantee

of employment

2. would require as a condition, legal measures for repres-

sion of population

3. Allowances in aid of wages

4. The Allotment System

431

433

438

440

CHAPTER XIII. The Remedies for Low Wages further

considered.

§ 1. Pernicious direction of public opinion on the subject of

3. Twofold means of elevating the habits of the labouring

people by education

455

4.

and by large measures of immediate relief, through

foreign and home colonization

457

CHAPTER XIV. Of the Differences of Wages in

different Employments.

§ 1. Differences of wages arising from different degrees of

attractiveness in different employments

2. Differences arising from natural monopolies

3. Effect on wages of a class of subsidized competitors

4.

- of the competition of persons with independent means
of support.

5. Wages of women, why lower than those of men
6. Differences of wages arising from restrictive laws, and
from combinations.

7. Cases in which wages are fixed by custom .

2. The minimum of profits; and the variations to which it is

liable

CHAPTER XV. Of Profits.

§ 1. Profits resolvable into three parts; interest, insurance, and

wages of superintendence

Page

484

487

3. Differences of profits arising from the nature of the parti-

cular employment.

489

4. General tendency of profits to an equality.

491

5. Profits do not depend on prices, nor on purchase and sale 497

6. The advances of the capitalist consist ultimately in wages

7. The rate of profit depends on the Cost of Labour

CHAPTER XVI. Of Rent.

2. No land can pay rent except land of such quality or situa-
tion, as exists in less quantity than the demand

3. The rent of land consists of the excess of its return above
the return to the worst land in cultivation.

or to the capital employed in the least advantageous

circumstances

505

506

508

510

5. Is payment for capital sunk in the soil, rent, or profit?
6. Rent does not enter into the cost of production of agricul-
tural produce.

2. Definitions of Value in Use, Exchange Value, and Price. 527

3. What is meant by general purchasing power.

528

4. Value a relative term. A general rise or fall of Values a

contradiction.

5. The laws of Value, how modified in their application to
retail transactions

531

CHAPTER II. Of Demand and Supply, in their

relation to Value.

Page

§ 1. Two conditions of Value: Utility, and Difficulty of Attain-

ment ..

534

2. Three kinds of Difficulty of Attainment

536

538

3. Commodities which are absolutely limited in quantity.

4. Law of their value, the Equation of Demand and Supply.

5. Miscellaneous cases falling under this law .

CHAPTER III. Of Cost of Production, in its relation

to Value.

§ 1. Commodities which are susceptible of indefinite multipli-

cation without increase of cost. Law of their Value,

Cost of Production . .

2. operating through potential, but not actual, alterations.

-

of supply

540

542

. 545

. . 547

CHAPTER IV. Ultimate Analysis of Cost of Production.

§ 1. Principal element in Cost of Production-Quantity of

Labour.

2. Wages not an element in Cost of Production

552

554

except in so far as they vary from employment to em-

ployment

556

558

559

4. Profits an element in Cost of Production, in so far as they

vary from employment to employment.

5. - or are spread over unequal lengths of time.

6. Occasional elements in Cost of Production: taxes, and

scarcity value of materials.

CHAPTER V. Of Rent, in its Relation to Value.

§ 1. Commodities which are susceptible of indefinite multipli-

cation, but not without increase of cost. Law of their

Value, Cost of Production in the most unfavourable

existing circumstances

. . 567

2. Such commodities, when produced in circumstances more

favourable, yield a rent equal to the difference of cost. 570

3. Rent of mines and fisheries, and ground-rent of buildings 573

4. Cases of extra profit analogous to rent

. . 576

CHAPTER VI. Summary of the Theory of Value.

Page

§ 1. The theory of Value recapitulated in a series of proposi-

tions

578

2. How modified by the case of labourers cultivating for sub-

Substance of three articles in the Morning Chronicle of 11th,

13th, and 16th January, 1847, in reply to MM. Mounier

and Rubichon and to the Quarterly Review, on the

Subdivision of Landed Property in France

. 587