The Iniguity of Profiting by the Unearned Increment Generally spanking, the changes in society and the rise of capitalism Thave taken place in the following order, First there were landowners, them there were merchants and afterwards came the capitalists. The landowners began with the Aeudal system. Europe has not yet discarded thio system, but it was) about it and would not pay. How-fever when he was sober he remem-hered with regret his bid, and not being able. to. repudiate is debt, managed by various devices to raise the $300, For @ long time afterwards he could make no use of the land, bat when more than 10 years had pass-td, on every side there were great buildings and the price of this piece eeame exceedingly high. Then when men offered to purchase it he was unwilling to sell, although they quoted several millions of dollars. All he would do. was to rent to thers and eventually "it became worth tone of millions of dollars.
This drunkard became the first millionaire of Australia, and all his wealth originated with a three hundred dollar. piece of land, To Whom the Profit In feudal times, the nobl.s who ad land were rich people, those who had not were the poor. In China, although the feudal system has abolished for more than 2,000 yours, yet, because trade and Sndustries have wot largely develop-ad, the conditions of society are atill the same as those of 2,000 years: ago, In China to-day there are no Turge landowners but there are mall ones; however under this regime the majority of places are peaceful and there are no quarrels Between owners and people. reader wilt when ich he pol foam the Soule! agen rouen the previo achorness Now with regard to the man himself it was a great fortune for him, Dat when you think of hia as obtaining a piece of land for a mere three bundyed dollars, upon bestowed no labour and of which hho took tio notice, making whilst asleep, the quest Whose are those millions of dollars?
Tu my opinion they belong to. the public, because society needed that Place to make it into a centre of mercantile and industrial operations, That place where land. 30 increased in value is like Shanghai, which is the chief place for the mercantile wd_industrial agencies of central China, where the land values have} Increwsed ten thousand times. those of former days: or ike Canton
Text read from the printed page and cleaned; old type leaves the occasional error.