But It Is Clear That The Price

Labour, Like All Other Things Which Are Purchased And Sold, And Which May Be Increased Or Diminished In Quantity, Has Its Natural And Its Market Price. The Natural Price Of Labour Is That Price Which Is Necessary To Enable The Labourers, On With Another, To Subsist And To Perpetuate Their Race, Without Either Increase Or Diminution.

The Last Point For Consideration Is The Supposed Disposition Of The People To Interfere With The Rights Of Property. So Essential Does It Appear To Me, To The Cause Of Good Government, That The Rights Of Property Should Be Held Sacred, That I Would Agree To Deprive Those Of The Elective Franchise Against Whom It Could Justly Be Alleged That They Considered It Their Interest To Invade Them.

By Far The Greatest Part Of Those Goods Which Are The Objects Of Desire, Are Procured By Labour And They May Be Multiplied, Not In One Country Alone, But In Many, Almost Without Any Assignable Limit, If We Are Disposed To Bestow The Labour Necessary To Obtain Them.

I Have Endeavoured To Show That The Ability To Pay Taxes Depends, Not On The Gross Money Value Of The Mass Of Commodities, Nor On The Net Money Value Of The Revenue Of Capitalists And Landlords, But On The Money Value Of Each Man's Revenue Compared To The Money Value Of The Commodities Which He Usually Consumes.

It Appears To Me That One Great Cause Of Our Difference In Opinion On Subjects Which We Often Discuss Is That You Have Always In Mind The Immediate And Temporary Effects Of Particular Changes, Whereas I Put These Effects Quite Aside, And Fix My Whole Attention On The Long-term Effects That Will Result From Them.