On the Increase of Capital.
97
extraordinary rapidity. Yet, in America, there is a comparative scarcity of labour, and an ample supply of productive land. America and England have conferred upon each other the most important mutual benefits. Cheap food is essential to England's progress, and our greatest supplies are obtained from America. Cheap labour is the most valuable gift to America, and our surplus population, which would become burdensome to us if there had been no emigration, is providing America with the labour she so much needs.
All the more important propositions which concern the production of wealth have now been considered; this portion of our subject will be frequently recurred to, in order that the reader may obtain a firmer grasp of many of the principles here discussed. We now pass on to the next branch of our subject, which is the distribution of wealth.