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The price of the one species of commodities varies only with the

variations in the demand; that of the other varies not only with

the variations in the demand, but with the much greater, and more

frequent, variations in the quantity of what is brought to

market, in order to supply that demand.

The occasional and temporary fluctuations in the market price of

any commodity fall chiefly upon those parts of its price which

resolve themselves into wages and profit. That part which

resolves itself into rent is less affected by them. A rent

certain in money is not in the least affected by them, either in

its rate or in its value. A rent which consists either in a

certain proportion, or in a certain quantity, of the rude

produce, is no doubt affected in its yearly value by all the

occasional and temporary fluctuations in the market price of that

rude produce; but it is seldom affected by them in its yearly

rate. In settling the terms of the lease, the landlord and farmer

endeavour, according to their best judgment, to adjust that rate,

not to the temporary and occasional, but to the average and

ordinary price of the produce.