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Page 466 of 2651

Author: Adam Smith

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The price of every metal, at every mine, therefore, being
regulated in some measure by its price at the most fertile mine
in the world that is actually wrought, it can, at the greater
part of mines, do very little more than pay the expense of
working, and can seldom afford a very high rent to the landlord.
Rent accordingly, seems at the greater part of mines to have but
a small share in the price of the coarse, and a still smaller in
that of the precious metals. Labour and profit make up the
greater part of both.
A sixth part of the gross produce may be reckoned the average
rent of the tin mines of Cornwall, the most fertile that are
known in the world, as we are told by the Rev. Mr Borlace,
vice-warden of the stannaries. Some, he says, afford more, and
some do not afford so much. A sixth part of the gross produce is
the rent, too, of several very fertile lead mines in Scotland.

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