The Land and the Commonwealth (Paperback)

Purchase of this book includes free trial access to www.million-books.com where you can read more than a million books for free. This is an OCR edition with typos. Excerpt from book: CHAPTER III THE NEW LANDOWNER In these days of rapid industrial development a new type of landowner is appearing. This estate owner has been enabled to acquire his interest in land by the accumulation of vast wealth, as a result of commercial enterprise. He turns his attention to the purchase of landed property whenever a favourable opportunity occurs. The old class of owner has, to some considerable extent, disappeared, and his place has been taken by the magnate who has gained his fortune in cotton, woollen, or iron industries. These facts make it clear that wealth is more rapidly accumulated in commercial pursuits than by the ownership of land. Whatever objections may be raised against property owners, and these cannot be denied in many respects, one rarely hears of a person becoming a millionaire, in this country, by the control of land alone. The community has as much to fear from the large capitalist as from the landowner. And this danger has become more serious since the capitalist has begun to turn his attention to the people's land. These are the tendencies of the age, and they are becoming more potent as private wealth increases. Every firm of land agents of good standing receives frequent applications from business men who are anxious to acquire landed properties. These individuals are often prepared to pay prices which are ridiculously high, if judged from thestandpoint of the investment of capital. Many instances could be quoted to show that purchase- money far in excess of the actual value of the estate has been paid. Some of the figures would appear to be incredible. Even when agricultural depression has existed to a great extent, it has made practically no difference to the price of agricultural land. This tendency is likely to remain so long as capital, i...