The Resources of a Nation : a Series of Essays

Cover The Resources of a Nation : a Series of Essays
The Resources of a Nation : a Series of Essays
Rowland Hamilton
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It has been defined as "that portion of the produce of the land which is paid by the occupier to the landlord for the use of the natural and inherent powers of the soil. "* The further payment made to the landlord for other purposes, such as buildings and enclosures, is, strictly speaking, for the interest of his capital or the profits of his stock ; and though this double charge is usually agreed upon and paid as one, the principles by which each portion is governed are radically distinct, and... the former only is referred to when the term is used in political economy. Both charges are totally distinct from any payments, in early and troublous times, exacted by force, or willingly made to secure the pro- tection of a stronger power. Permanent improvements, how- ever such as the construction of a canal for the purpose of drainage or irrigation, or the complete removal of natural obstructions to communication though they might be con- sidered and charged for by a landlord as an outlay of capital, * Encyclopaedia Britannica, Art.

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