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Subject Area: Political Theory
Subject Area: Law

Bentham to Arthur Young. - Jeremy Bentham, The Works of Jeremy Bentham, vol. 10 (Memoirs Part I and Correspondence) [1843]

Edition used:

The Works of Jeremy Bentham, published under the Superintendence of his Executor, John Bowring (Edinburgh: William Tait, 1838-1843). 11 vols. Vol. 10.

Part of: The Works of Jeremy Bentham, 11 vols.

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Bentham to Arthur Young.

“Q. S. P., June 13, 1801.

“Dear Sir,—

Your opinion on the subject of the following queries, on which it is probably given in more places than one of your works, if a man knew but where to lay his finger on it, would much oblige me.

“1. What may be regarded as the average annual value of the gross produce in the form of a per centage for every £100 laid out in the improvement of land not yet in culture, upon an average of articles of culture, soils, situations, &c., and quantities of capital applied per acre, according to the usage of the present time, and in farms of the average size? calculated either for England or Great Britain,—but mention which.

“2. The same question applied to land already in culture, upon an average in respect to the quantity of capital actually employed, and the degree of skill and judgment with which it is employed, and upon farms of an average size?

“3. The same applied as before to land already in culture: but on the supposition of the capitals being employed on the most skilful principles yet known, and on that quantity per acre which is adapted to the production of the greatest quantity of produce per acre?

“N.B. The object is to ascertain, not the profit per cent. to the farmer, not that portion of the produce which, or the price of it, is retained by that one of the parties interested, but the gross produce, or whole amount in each year, including what goes to rent and tithes, poor-rates, and other taxes, and not deducting anything for interest of money.

“The income thus derived to the nation, taken together, is considered as permanent, and even perpetual; and therefore, in each year, that proportion of the produce of the year, the value of which goes for wear and tear of the capital, to keep up the capital always at the same value, without increase or decrease, must all along be deducted.

“Answers to questions of such latitude must, of course, be extremely vague: but a very rough approximation is all that is necessary for my purpose; such a one, for example, as is made when it is said, as it was in Mr Pitt’s estimate, as given in Mr Rose’s pamphlet, for the purpose of the income tax, that 15 per cent. might be reckoned as the average profit of trade; in which interest of money, I take for granted, was meant to be included, and the profit in question was meant to be the profit of the individual master manufacturer, &c. by whom the capital in question is employed.

“If you will give me leave to avail myself of your authority, by giving the questions and answers, and annexing your name to the answers in print, if I should print, as I think to do, you will add much to the obligation conferred on, dear Sir, your faithful friend, &c.

“N.B. I shall take your permission for granted, unless refused. Better the exact purpose of the questions be unknown till the answer is given, to avoid biases on the mind. It will, I presume, be least trouble to you to return this same paper with your answers, which, I should hope, might be reduced to a few figures.”