The Doctrine of Equivalents, Or, An Explanation of the Nature, the Value, And the Power of Money, Together With Their Application in Organising Public Finance 1

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The price of labour being of courfe a necefiary, and a material part in the mo- ney value of all general produ61:ions of nature , from which new Capitals, or Efta- tes are conftru6led, we can find no diffi- culty in afcertaining, that fuch part recei- ves a fenfible diminution in price from a decreafe in the money value of the other part called rents or natural produce.
It AN EXPLANATION OF THE NATURE , &C. 69 It is alio very evident , that rents and labour form a very confiderable part of all
...Capitals, and that their tendency to decreafe in money value mull coun- terafl the confequences of the increafing value , in the other part called land , which appears to take place on money beco- ming plentier.
Capitals have , therefore , upon the whole , when connefted , or arifing in any degree from induilrious incomes, or natu- ral produ6lions, the fame tendency to fall in money value, when In terelt falls, as thofe incomes or produftions have , and thefe confequences are confiderably in- creafed , by the a6]:ion and reaiPtion be- tween the Capital, and the income, which feem neceflarily and inevitably linked to- gether by nature, and influence one an- other for the following reafons.


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