Excerpt from The True Theory of Rent: In Opposition to Mr. Ricardo and Others; Being an Exposition of Fallacies on Rent, Tithes, &C
The principal object of the following pages, is to demonstrate the fallacy of what is denominated the Ricardo Theory of Rent, and the injustice of the conclusion built upon it, that tithes and taxes on the land fall on the consumer.
What it is endeavoured to establish is, that the cause of rent is nothing but what was long ago pointed out by Adam Smith, namely, the limited quantity of the land in comparison with the competitors for its produce.
The answer made to the earlier Editions has been, that 'the difference is only in the expression,' and that 'there is none in the principle,' There is at all events the difference of the whole of the conclusion specified.
Since the appearance of the first Edition, the subject has been carried forward under the title of 'A Catechism on the Corn Laws;' with a view to trace the nature and consequences of those laws, as derivable from the true, or Adam Smith's, theory of rent, and to form a book of reference for the solution of the fallacies advanced in their support.
The result of this examination has been to show, that what is denominated the Ricardo Theory, is at this moment the great point of weakness of the opponents of the Corn Laws; and that their first policy and duty is to cut it away. No advantage can be given to the enemies of the truth, like defending a fallacy upon one point. The argument does not depend on the Ricardo Theory; and the political economists are sacrificing the truth on the Corn Laws, for the sake of a fallacy on Tithes.
The enemies of political economy,- those who wish there should be no such thing, for reasons of their own, - of course exult in every weakness of its friends. As if all human knowledge, in matters of any complexity, did not come through a succession of discoveries of error as children, by dint of falling, learn to walk. Opinions clash in all directions; and that which endures, is true. If mistakes are made, they must be found out and corrected when it pleases heaven. But to argue that truth is not discoverable, because there are mistakes, - is like proposing to banish algebra because somebody has erred in a sign, or merchants accounts because a clerk in Lombard Street made an entry on the wrong side of the book.
He who undertakes to point out errors in the arguments of others, is unable to engage that there shall be none in his own. With reasonable men the measure of his success will be, the degree in which, on the whole, he shall be found to have assisted the progress of truth.
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