Such are the unexceptionable authorities-such the additional grounds, besides those already noticed in regard to Great Britain, (equally applicable in Ireland,) on which rest the calculations in respect to the increased capital of Ireland since 1811. In the following Section, these calculations will be further confirmed by facts, and official documents.

299

SECTION II.

CAPITAL OF ENGLAND, WALES, SCOTLAND, AND IRELAND.

PRIVATE CAPITAL, viz.:-Lands and implements of husbandry.-Mines and minerals.-Canals.-Rail-roads.-Houses, furniture, plate, and jewellery. -Specie in circulation.-Machinery.-Manufactured goods and merchandize. -Shipping.-Fisheries.-Animate power.-Capital in Savings' Banks, &c. &c. PUBLIC CAPITAL, viz. :—Arsenals, dock-yards, stores, ships of war, fortifications, barracks, public buildings, palaces.—Church property and capital, &c. &c.

PRODUCE AND PROPERTY ANNUALLY RAISED AND CREATED. Effect of the combination of capital with animate and inanimate power; namely, labour and machinery, in raising all sorts of natural productions, as well as manufactures. Annual value of all animate and inanimate forces, and produce of agriculture, &c.-Capital and labour employed in all manufactures and occupations. Annual value of the produce of inland and coasting trades, fisheries, shipping, and foreign commerce; of cotton, silk, linen, woollen, hardware, pottery, jewellery, plate, furniture, paper, and various miscellaneous manufactures.-Profits of bankers.-Foreign income, &c. &c.

THE official Table VII., at the end of this Section, drawn from data afforded by the Commissioners of the Revenue Inquiry, is an excellent document by which to form a correct idea of the amount, not only of personal, but of real property in England. The amount of all private property in England and Wales, under the heads above mentioned, and others specified in Table XVI., is estimated at 2,428,900,000l.; that of Scotland, under the same heads, at 369,400,000l.; and that of Ireland, at 738,500,0007.; forming a grand total for Great Britain and Ireland, of 3,575,700,000l. The value of the public property of England and Wales, may be stated at 42,000,000l.; that of Scotland, at 3,900,000%., and that of Ireland, at 11,900,000l.; and taking the navy dock yards, military and naval stores, and ordnance, in

common for all parts of the kingdom, forms a total, for all the public property of Great Britain and Ireland, of 103,800,000l.; thus constituting, for the whole capital, public and private, a grand total of 3,679,500,0007. The explanatory notes annexed to Table XVI., state the data, and official documents, upon which the calculations are founded, and afford the reader the means of entering into details. Let us now examine how this enormous capital is distributed and employed; and what is the amount of produce and property annually raised, by its combination with animate and inanimate power.

AGRICULTURE.

The largest part of the capital of the British empire is concentrated, to the advantage of the United Kingdom, in this sceptred little isle; and the largest part of the British capital in Europe is absorbed by agriculture. Table XVI. shows, that the capital invested in land for the cultivation of wheat, grain, hops, grass, &c., amounts to the enormous sum of 1,600,000,000%.: the value of agricultural property, including machinery, tools, implements, &c., is estimated at no less than 59,900,000l.; and if to these be added another considerable item, the value of all animals connected with, and depending on, the exertions of husbandry, and which (as may be seen by the Table) amounts to 242,000,000l., the aggregate result shows, that 1,901,900,000l., or more than one half of the whole British capital in the United Kingdom, is employed and invested in agriculture!

These estimates, it should be observed, are considerably below those which, some years ago, elevated the British capital devoted to agriculture to two thousand

millions, without taking into account the large item last mentioned. The opinions of the writers who formed those estimates are of such weight, that the reader is referred to them, while the result of all their reasonings and calculations is here noticed. They consider, that fifty millions of acres of land are in cultivation; and that the value of the land, and capital employed by the landlord is equal to 30%. per acre, and the value added by the exertions of the tenant, to 107. per acre thus fifty millions of acres require the investment of a capital of two thousand millions. It is true, the number of cultivated acres (as may be seen by Note A. to Table XVI.) is not so great as those able writers supposed; but the cultivation having increased largely since they wrote, the calculation evidently tends to show the soundness and moderation of the estimates in the Table; as well as how unfounded is the general opinion which prevails on the continent, and among a large party here, that England is a manufacturing but not an agricultural country; it may also serve to expose the error of those Englishmen who, disregarding facts, consider the agriculture of their country as a subordinate and insignificant branch, compared either to her manufactures or commerce.

But what are the results of this large capital, when combined with British industry, labour, and machinery? The annual value of agricultural produce raised by this capital is proportionate to its magnitude. Fifty-one millions of quarters of all sorts of grain, wheat, barley, oats, rye, &c., are annually raised; the value of which

"An Essay on the application of Capital to Land," by West. "On Agriculture and Rent." Quarterly Review, No. 71, 1826. "The Principles of Agriculture," by Bland.

The average

cannot be estimated under 86,700,000l. quantity of wheat annually imported into Great Britain from Europe (about which so much noise is made) may be taken at 900,000 quarters, which does not amount to two weeks' consumption; and if Ireland continue its progress in cultivation, even this may be rendered unnecessary. The value of hay, straw, grass, vetches, field turnips, &c., to feed 1,900,000 horses, twelve millions of horned cattle, forty-eight millions of sheep, lambs, goats, &c., may be estimated at 113,000,000%. © The consumption of potatoes in the United Kingdom, independent of the quantity exported, is immense: this article forms the principal food of eight millions of inhabitants in Ireland: the total consumption in the United Kingdom, together with the exportation, cannot be valued at less than 19,000,000l. The produce of orchards, gardens, and nurseries, of all descriptions, certainly amounts to above 3,800,000l. The value of

This calculation is formed in the following manner :—

Wheat, thirteen millions of quarters, valued at 63s. £39,600,000 Oats, twenty-two

All other sorts, sixteen

do. do.

21s.

23,100,000

The prices are taken on an average of the last three years.

The total quantity of foreign grain, &c., admitted into consumption in Great Britain, in the year ending 28th Feb. 1830, was 1,315,937 quarters, of which 909,205 were of wheat; and the total quantity imported into Great Britain in 1829, was 2,562,051. In 1829, there were also imported from Ireland, 2,307,817 quarters of grain of all sorts. The largest amount of foreign grain, &c., imported into Great Britain was in 1818, when it reached 3,522,739 quarters.

This is only the amount as stated in 1811; because although the quantity has increased, the price is now much less.