Progress And Poverty; An Inquiry Into the Cause of Industrial Depressions And of Increase of Want With Increase of Wealth; the Remedy

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Within a few miles of San Francisco is unused land enough to give employment to every man who wants it. I do not mean to say that every unem- ployed man could turn farmer or build himself a house, if he had the land; but that enough could and would do 272 THE PEOBLEM SOLVED. Book V.
SO to give employment to the rest. What is it, then, that prevents labor from employing itself on this land?
Simply, that it has been monopolized and is held at speculative prices, based not upon present value, but
...upon the added value that will come with the future growth of population.
What may thus be seen in San Francisco by whoever is willing to see, may, I doubt not, be seen as clearly in other places.
The present commercial and industrial depression, which first clearly manifested itself in the United States in 1872, and has spread with greater or less intensity over the civilized world, is largely attributed to the undue ex- tension of the railroad system, with which there are many things that seem to show its relation.


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