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CAPITAL AND LAND.

PUBLISHED AND SOLD BY

THE FABIAN SOCIETY.

"For the right moment you must wait, as Fabius did most patiently when warring against HANNIBAL, though many censured his delays ; but when the time comes you must strike hard, as Fabius did, or your waiting will be in vain, and fruitless."

SEVENTH EDITION, REVISED.

PRICE ONE PENNY.

LONDON: THE FABJAN SOCIETY, 3 CLEMENT's Inn, STRAND, W.C.

March 1908.

DABIAN SOCIETY.-The Fabian Boolety oonsists of Boolallsto. A state r ment of its Rules and the following publications oan be obtained trom tha.

Seoretary, at the Fabian Office, 3 Clemens's Inn, London, W.O.

THIS MISERY OF BOOTS. By H. G. WELLS. 3d., post free 4d.
" THOSE WRETCHED RATES!” a Dialogue. By F. W. HAYES. id
FABIAN ESSAYS IN SOCIALISM. 43rd Thousand.)
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Leaflets, 4 pp.oach, price ld. for sia copros, 18. por 100, or 816 por 1000. The Set of 78, 38.; post free 3/5. Bound in Buckram, 4/6; post free for 55. 1.-General Socialism in its various aspects.

TBACTE.—139. Socialism and the Churches. By the Rev. JOHN CLIFFORD,
D.D. 138. Municipal Trading. --121. Public Service versus Private
Expenditure. By Sir OLIVER LODGE. 113. Communism. By WM. MOBRI 8.
107. Socialism for Millionaires. By BERNARD SHAW. 133. Socialism and
Christianity. By Rev. PERCY DEARMER. 78. Socialism and the Teaching
of Christ. By Dr. JOHN CLIFFORD. 87. The same in Welsh. 48. Christian
Socialism. By Rev. 8. D. HEADLAM. 79. A Word of Remembrance and
Caution to the Rich. By JOHN WOOLMAN. 75. Labor in the Longest Reiga.
By SIDNEY WEBB. 72. The Moral Aspects of Socialism. By SIDNEY BALL.
69. Difficulties of Individualism. By SIDNEY WEBB. 51. Socialism : Truo
and False. By 8. WEBB. 45. The Impossibilities of Anarchism. By
BERNARD SHAW (prioe 2d.). 15. English Progress towards Social Demo.
cracy. By S. WEBB. 7. Capital and Land (7th edn. revised 1908). 5. Facto
for Socialists (11th edn., revised 1908). LEAFLETS—13. What Socialism is.
1. Why are the Many Poor? 38. The same in Welsh.
-Applications of Socialism to Particular Problems.
TBAOT8.—136. The Village and the Landlord. By EDWARD CARPENTER.
135. Paupers and Old Age Pensions. By SIDNEY WEBB. 131. The Decline
in the Birth-Rate. By SIDNEY WEBB. 130. Home Work and Sweating.
By Miss B. L. HUTCHINS. 128. The Case for a Legal Minimum Wage.
126. The Abolition of Poor Law Guardians. 122. Municipal Milk and
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Control of Trusts. 86. Municipal Drink Traffic. 85. Liquor Licensing
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Arbitration and the Living Wage. 48. Eight Hours by Law. 23. Case
for an Eight Hours Bill. 47. The Unemployed. By JOHN BUBNS, M.P.

LEAFLET. -104. How Trade Unions benefit Workmen.
III.-Local Government Powers : How to use them.

TRACT8.-137. Parish Councils and Village Life. 117. The London Education Act, 1903: how to make the best of it, 10g. Cottage Plans and Common Sense. By RAYMOND UNWIN. 76. Houses for the People, 99. Local Government in Ireland. 82. Workmen's Compensation Act. New edition for the Act of 1906. 62. Parish and District Councils. 54. The Humanizing of the Poor Law. By J. F. OAKRABOTT. LEAFLETS.134. Small Holdings, Allotments and Common Pastures: and how to get them. FABIAN MUNICIPAL PROGRAM, FIRST SERIES (Nos. 32, 37). Municipalization of the Gas Supply. A Labor Policy for Public Authorities. SECOND SERIES (Nos. go to 97). Municipalization of Milk Supply. Municipal Pawnshops. Municipal Slaughterhouses. Women as Councillors. 'Municipal Bakeries. Municipal Hospitals. Munici. pal Steamboats.- Second Series in a red cover for id. (9d. per dos.);

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Supplement to October, 1906.
V.-General Politics and Fabian Policy.

127. Socialism and Labor Policy. 116. Fabianism and the Fiscal Question: an alternative policy. 108. Twentieth Century Politics. By SIDNEY WEBB. 70. Report on Fabian Policy. 41. The Fabian Society:

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8 Clement's Inn, Strand, London w O.

CAPITAL AND LAND.

PUBLISHED AND SOLD BY

THE FABIAN SOCIETY.

" For the right moment you must wait, as FABIUS did most patiently when warring against HANNIBAL, though many censured his delays ; but when the time comes you must strike hard, as Fabius did, or your waiting will be in vain, and fruitless."

SEVENTH EDITION, REVISED.

PRICE ONE PENNY.

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LONDON : THE FABJAN SOCIETY, 3 CLEMENT's Inn, STRAND, W.C.

March 1908.

MOTHER EARTH

PEOPLE OF ALL CLASSES and of all political parties are genuinely anxious to revive village life. Thus we may prevent the constant drifting of the people to the towns, with much concurrent misery. Everyone will therefore be interested to read “Mother Earth," by MONTAGUE FORDHAM, a thoughtful and practical book on this question.

It deals not only with the economic changes needed in order that a permanent life should be built up in the country districts, but also gives important information on co-operation, on the financing of small holdings through loan societies, and on agricultural education and productivity. The building up of a stable community of agriculturists and artizans in permanent country homes and the Land Club system are also fully dealt with.

The book has been widely reviewed and highly praised. It can be obtained through all booksellers and from the Fabian Society.

A few press notices follow :

The Economist.—"Mother Earth" should be read by all who are anxious to find remedies for the decay of agriculture.

The Globe.—Students will find much sense and ability in this short practical

treatise.

The Church Times.--His book should be read by all who are concerned with the problem. It has the advantage of being a real book, written with a style.

The Manchester Courier.-It may be strongly recommended to the attention of all having any connection with the administration of the 1907 Small Holdings Act.

The Yorkshire Observer.- This book should be studied by land reformers of all shades of opinion.

The Manchester Guardian.-This beautifully printed essay has, as Mr. Hobson says, the conspicuous method of outlining a "large, bold, comprehensive and genuinely organic reform."

The Daily News says: The [ Land Club] movement is so full of promise, because it has sprung voluntarily from the country people themselves. It is one of the very few efforts in modern rural England that can be called truly democratic. ... Homes and land-that is the talisman that has called these clubs into being.

The Morning Leader.-A book so temperate and sane that all thoughtful people should read it.

The book is published in a special Library Edition, beautifully

printed on deckle-edge paper at 5s. net, post free; and a Popular Edition will be issued in April at 18. net, postage 2d.

LONDON : THE OPEN ROAD PUBLISHING COMPANY,

II CURSITOR STREET, E.C.

CAPITAL AND LAND.

The practical aim of Socialists with regard to the materials of wealth is "the emancipation of land and industrial capital from individual and class ownership, and the vesting of them in the community for the general benefit."* Land and capital are instruments with which man works for the production of wealth, material for the maintenance of his existence and comfort. Now it is important to notice that, though in common talk we separate the two, and though political economists have given a scientific dignity to this rough classification of the instruments of production, distinguishing as “land” that which has been provided by “Nature," and as “capital” that which has been made by human industry, the distinction is not one which can be clearly traced in dealing with the actual things which are the instruments of production, because most of these are compounded of the gifts of Nature and the results of human activity.

“Land.” The only instruments given to us by Nature are climate, physical forces, and virgin soil. The use of these passes with legal “property" in the land to which they belong, and they are consequently classed with "land." Those virgin soils are called good or fertile which contain in abundance elements which the chemistry of animal or vegetable life can convert into the materials of human food, clothing, etc. Other mineral elements of particular patches of soil are convertible, by the arts of the mining, metallurgic, building, and engineering industries, into a thousand forms of wealth.

How “Land” gets Value. But even these qualities of virgin soil are of no use or value unless they are found in accessible positions ; and their advantage to the proprietor of the land increases rapidly as human society develops in their neighborhood ; whilst in all advanced societies we find large areas of town lands whose usefulness and value have nothing to do with their soils, but are due entirely to the social existence and activity of man. Land in Cornhill, worth a million pounds an acre, owes its value to the world-wide industry and commerce whose threads are brought together there, not to its natural fertility or to the attractions of its climate. “Prairie value” is a fiction. Unpopulated land has only a value through the expectation that it will be peopled.

* See the “ Basis" of the Fabian Society, page 18.

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