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Questions for Candidates: 20, Poor Law Guard ians. 24, Parliament. 28, County Councils, Rural. 56, Parish Councils. 57, Rural District Councils. 102, Metropolitan Borough Councils. Book Boxes lent to Societies, Clubs, Trade Unions, for 68. a year, or 2/6 a quarter Printed by G. Standrii g, 7 Finsbury St., London, E.C., and published by the Fabian Society, 3 Clement's Inn Strand London WC 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." SIXTH EDITION, REVISED. PRICE ONE PENNY. LONDON: THE FABIAN SOCIETY, 3 CLEMENT'S INN, STRAND, W.C. JANUARY 1904. 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 19. The "natural" capabilities of land are thus increased, and, indeed, even called into existence, by the mere development of society. But, further, every foot of agricultural and mining land in England has been improved as an instrument of production by the exercise of human labor. First, of human labor not on that land itself; by the improvement of the general climate, through clearing of forest and draining of marsh; by the making of canals, roads, railways, rendering every part of the country accessible; by the growth of villages and towns, by the improvement of agricultural science; and still more by the development of manufactures and foreign commerce. Of all this human labor, no man can say which part has made the value of his land, and none can prove his title to monopolize the value it has made. Secondly, all our land has been improved by labor bestowed especially upon it. Indeed, the land itself, as an instrument of production, may be quite as truly said to be the work of man as the gift of Nature. Every farm or garden, every mine or quarry, is saturated with the effects of human labor. Čapital is everywhere infused into and intermixed with land. Who distinguishes from the mine the plant by which it exists? Who distinguishes from the farm the lanes, the hedges, the gates, the drains, the buildings, the farm-house? Certainly not the English man of business, be he landlord, farmer, auctioneer, or income tax commissioner. Only the bold bad economist attempts it, and, we must add, some few amongst our allies, the Land Nationalizers. It may be worth while to digress for a while in the company of these latter. A Word to "Land Nationalizers." The arguments revived in our generation by John Stuart Mill and Henry George, and the activity of the various societies that have taken in hand the work of diffusing them, have now converted an immense body of public opinion to the Socialist view of the justice of, and urgent necessity for, Nationalization of the Land; or, at least, the absorption, by the State or Municipality, of ground rents, mining royalties, and similar unearned profits from the soil. Land Nationalizers go, generally, so far with Socialists that (in the words of the Fabian "Basis") they "work for the extinction of private property in land, and of the consequent individual appropriation, in the form of rent, of the price paid for permission to use the earth, as well as for the advantages of superior soils and sites." But some, who are thus far Land Nationalizers, still shrink from any interference with the legal powers enjoyed by the holders of capital. Hence a most unfortunate separation exists between them and the Socialists, whose design of nationalizing the industrial capital with the land appears to them unjustifiable and unessential. Capitalist and Landlord in One Boat. They use the argument that capital, unlike land, is created by labor, and is therefore a proper subject of private ownership, while land is not. Socialists do not overlook the facts on which this |