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Rh such ground rents as are still paid by the people of London in respect of those classes of property which retain some rental value will have to bear the burden of improving the city. Nor will, I think, the compulsion of any Act of Parliament be necessary to effect this result: it will probably be achieved by the voluntary action of the landowners, compelled, by a Nemesis from whom there is no escape, to make some restitution for the great injustice which they have so long committed.

For observe what must inevitably happen. A vast field of employment being opened outside London, unless a corresponding field of employment is opened within it, London must die,—when the landowners will be in a sorry plight. Elsewhere new cities are being built: London then must be transformed. Elsewhere the town is invading the country: here the country must invade the town. Elsewhere cities are being built on the terms of paying low prices for land, and of then vesting such land in the new municipalities: in London corresponding arrangements must be made or no one will consent to build. Elsewhere, owing to the fact that there are but few interests to buy out, improvements of all kinds can go forward rapidly and scientifically: in London similar improvements can only be carried out if vested interests recognise the inevitable and accept terms which may seem ridiculous, but are no more so than those which a manufacturer often finds himself compelled to submit to, who sells for a ridiculously low price the machine which has cost a very large sum, for the simple reason taat there is a far better one in the market, and that it no longer pays, in the face of keen competition, to work the inferior machine. The displacement of capital will, no