A rise in wages, from an alteration in the value of money, produces a general effect on price, and for that reason it produces no real effect whatever on profits.

Money is neither a material to work upon nor a tool to work with.

The factors left out of the Ricardian equation are falling wages and idle capacity.

For price is everywhere regulated by the return obtained by this last portion of capital, for which no rent whatever is paid.

There is no way of keeping profits up but by keeping wages down.

If the demand for home commodities should be diminished, because of the fall of rent on the part of the landlords, it will be increased in a far greater degree by the increased opulence of the commercial classes.

If English money was of the same value then as before, Hamburgh money must have risen in value. But where is the proof of this?