468 COMMERCIAL DESCRIPTION OF lord or proprietor absolutely does nothing but sit down at his ease, and receive his rent. * Of the mines of Banca, in their present state of fertility, I have attempted to estimate the rent at one-half of their gross produce. This rent is the proper sub" ject of taxation, and were the amount permanent and equal, or could be precisely ascertained, might, without infringement of private rights, or detri- ment to public industry, be all assumed as the public revenue of the state. No perpetual arrange- ment, however, could be made with respect to mines, as proposed with respect to lands ; for the productive powers of the soil are permanent, arid the rent of a given portion of land increases rather than diminishes in the progress of society, whereas the produce of mines is liable to diminish, or to be altogether exhausted. A periodical, and not a per- manent organization, therefore, would be the most
- " The dues," says INIr Taylor, " are delivered to the lord
or to his agent on the mine, free of all cxpence, or are com- muted for a proportionate part of the money arising from the sale of the whole. Hence it will be seen that the land-own- er risks nothing but a little injury to the surface of his fields. It seems reasonable that the land-owners should con- tribute something in favour of that exertion which so often leads to their great advantage. As it now stands, the land- owner often derives a great revenue from a mine, which is swallowing up the money of the adventurers." — Transactions of the Geological Society of London, Vol. II. p. 312, 313.
