...producers, yet that it affords the scale by which the remuneration of all other producers is calculated. When once experience has ascertained the comparative...labour, and advance of capital, they can obtain, must uftbrd the scale by which the remuneration of all other producers is calculated. If this reasoning...

...scale of remuneration in all other parts of the globe. And upon this he jumps to the conclusion, " that the mine " worked by England is the general market of " the world ; the miners are those who pro" duce those commodities, by the exportation " of which the precious metals are obtained, " and...

...different occupations, competition will cause wages in them to bear the same proportion to one another. " The mine worked by England is the general market of...remuneration of all other producers is calculated." Whence it follows, that the income in money of each individual depends on the difficulty or facility...

...competition. And, on the other " hand, mining would be abandoned, if, when the cost " of producing silver were increased, the wages in other " employments could..." the exportation of which the precious metals are ob" tained ; and the amount of the precious metals, " which, by a given exertion of labour and advance...

...prices for all the products of domestic industry. " The mine worked by England," says Mr. Senior, " is the general market of the world. The miners are those who produce those commodi346 o ^V ment of British goods, would be retained in payment of the x duty, and would augment...

...productiveness of industry increasing, the gold-prices of commodities may not fafl in the same proportion. * ' wz G B 7 b H N ~2f " D I kQ J 㟵 >qk '* ...OL mO Q 3 J f z= J s9z Ȉ U a 5& ʙ8 V =p'X8p — Senior's Essay On the Cost of Obtaining Money, p. 15. t If it should here be objected that, the...

...shown by a scale of money rates, wages, salaries, and incomes, permanently higher than that which * "The mine worked by England is the general market...exportation of which the precious metals are obtained." — SENIOR'S Essay " On the Cost of obtaining Money" p. 15. elsewhere prevails ; but, in times of monetary...

...stock of bullion." And Prof. Senior, in his lectures (1830) on "The Cost of Obtaining Money," writes: "The mine worked by England is the general market...miners are those who produce those commodities by the export of which the precious metals are obtained." It will be observed that Mr. Ricardo makes Price...

...manufacturers, planters, and farmers, tended by their mercantile marine, and protected by their naval 1 " The mine worked by England is the general market of...exportation of which the precious metals are obtained." — SENIOR'S Essay " On the Cost of Obtaining Money," p. 15. power, — a mine by means of which they...

...rate of wages was determined by the cost of producing the precious metals; 'the mine worked by Lngland is the general market of the world: the miners are...exportation of which the precious metals are obtained'. It followed, consequently, 'that the amount of the income in money of each individual depends on the...