But when the lands of a whole country, or a large extent of country, deteriorate in the same manner, and all cultivators are obliged to do the same thing, the price of land produce must rise in the markets, so as to pay the additional costs of supply. All but the poorest and most distant to which these markets must have recourse for supply, at any particular time, will pay rent, and pay it at a rate proportioned to their greater fertility or nearer proximity to the markets. Such Markets must pay for land produce a price sufficient to cover the costs of producing and bringing it from the poorest and most distant lands, to which they are obliged at any particular time to have recourse for supply. All land produce of the same quality must, at the same time and place, sell in the market at the same price; and all that is over and above the cost of producing and bringing it to market will go to the proprietors of the land, that is, to the Government and its lessees. The poorest and most distant land, to which any market may have recourse at any particular time, may pay no rent, because the price is no more than sufficient to pay the cost of producing and bringing their supply to that market; but all that is less poor and distant will pay rent, because the price which their produce brings in that market will be more than sufficient to pay the cost of producing and bringing their supply to that market.
The increase in the price of land produce which must take place, as the lands become generally exhausted by overcropping, will, probably, prevent any great falling off in the money rate of rents and revenues, from the land in our Indian possessions; and with the improvements in manufactures, and in the facilities of transport, which must tend to reduce the price of other articles, that money will purchase more of them in the market; and the establishments which have to be maintained out of these rents and revenues may not become more costly. Government and its lessees may have the same incomes in money, and the greater price, they and their establishments are obliged to pay for land produce may be compensated by the lesser price they will have to pay for other things.