...naturally endeavours to reserve to himself as the rent of his land, which is evidently the highest the tenant can afford to pay in the actual circumstances of the land. Sometimes, indeed, the liberality, more frequently the ignorance of the landlord, makes him accept...

...equal, ' or continually tending to equality.' Still, it is no doubt true, as Dr Smith observes, that ' the price paid for the use of land, is ' naturally the highest whicL the tenant can afford to pay in the ' actual circumstances of the land;' but this is quite a...

...greater mass of prejudice in general is found to exist. Dr. Adam Smith says* that " the rent of land, considered as the price paid for the use of land, is naturally a monopoly price. It is not at all proportioned to what the landlord may have laid out upon the improvement...

...greater mass of prejudice in general is found to exist. Dr. Adam Smith says* that " the rent of land, considered as the price paid for the use of land, is naturally a monopoly price. It is not at all proportioned to what the landlord may have laid out upon the improvement...

...esteemed rent by the landlord who farms his own land. " Rent," therefore, as Dr Smith has observed, " considered as the price paid for the use of land,...naturally the highest which the tenant can afford to pay iu the actual circumstances of the land. In adjusting the terms of the lease, the landlord endeavours...

...naturally endeavours to reserve to himself as the rent of his land, which is evidently the highest the tenant can afford to pay in the actual circumstances of the land. Sometimes, indeed, the liberality, more frequently the ignorance of the landlord, makes him accept...

...and other parts of * ** Rent," says Dr. Smith, " considered as the price paid for the use ef land, a naturally the highest which the tenant can afford to pay in the actual circumstances of the land." And again, " The rent of land, therefore, considered as the price paid for the use of the land, is...

...contained substantially in the three following passages of the ' Essay on the Wealth of Nations ' : — " Rent considered as the price paid for the use of land,...to pay in the actual circumstances of the land."— Buik\,c. 11. " High or low wages and profit are the causes of high or low price ; high or low rent...

...Nations, book i., chapter ii., Smith says — " Rent, considered as the price paid for the use of land, it naturally the highest which the tenant can afford...In adjusting the terms of the lease, the landlord endeavours to leave him no greater VOL i 14 share of the produce than what is sufficient to keep up...

...this point, Adam Smith says (Book 1, c. xi.): — "In adjusting the terms, the landlord endeavours to leave him no greater share of the produce than what is sufficient to keep up the stock, pay labour and other outgoings, together with ordinary profits on farming stock. . . . Improvements...