I have already computed the charge of nursing a beggar's child (in which list I reckon all cottagers, laborers, and four-fifths of the farmers) to be about two shillings per annum, rags included; and I believe no gentleman would repine to give ten shillings for the carcass of a good fat child, which, as I have said, will make four dishes of excellent nutritive meat, when he hath only some particular friend or his own family to dine with him. Thus the squire will learn to be a good landlord, and grow popular among his tenants; the mother will have eight shillings net profit, and be fit for work till she produces another child.

Those who are more thrifty (as I must confess the times require) may flay the carcass; the skin of which artificially dressed will make admirable gloves for ladies, and summer boots for fine gentlemen.

• "as I confess the times require" is one of the few glimpses afforded us into the true heart of Swift- that even for hte aristocrat he pretends to be, the times are difficult, which should bring to mind how much worse it is for the poor.
• As I know from prior reading's Swift was Anglican and at the time Anglican's did not get along with Catholics, so we see in the first paragraph, Swift is looking forward to the amount of Catholics that this proposal would weed out. Once more Swift is showing his attention to planning, he has calculated the cost and profit of the process and even suggests skinning the children to use their hide for clothing. One term that he keeps using for the children's clothing is "rags" implying that they don't require proper clothing because they're not important enough.
• From what I can tell, Swift is doing two things here. 1) Showing when problem is at the largest and 2) comparing the children to farm animals.
• He doesn't stop at shocking people with the eating of babies, he also throws in a bit of misogyny for good measure as he suggests that poor women are nothing more than baby machines. Here he also introduces the idea that they could use these kids' skins to make some clothing. A human wearing a human if funny because he is kind of pointing at the fact that we would never do such a thing but would wear an animal's skin in a heartbeat (well maybe he is pointing at that, that's my projection of Swift anyways).
• Swift continues with his overly-detailed descriptions here, hoping to disgust his audience thoroughly.
• The way in which this passage is presented, there is no way his readers at this point still don't know Swift's making fun of Ireland's strategies to "cure" the economic and famine crises in Ireland, while taking a jab at religion at the same time.  But by placing the bit about "lessening the number of papists among us," Swift creates a clear sense of "the other," and it's implied that respectable people are not papists, and they would understand the advantages of eating and selling children. "admirable gloves for ladies, and summer boots for fine gentlemen." such a good closing line, here.
• Trying to make it seem just like any other food is clever. Something that never goes out of season is valuable. The ridiculousness of the whole thing is almost overlooked due to how seriously it is written. A merchant could pick this up and glance it over then realize it is speaking about children and be shocked but have agreed all along until he clued in. He almost pokes fun at the gullibleness of people.