Page:Garden Cities of To-morrow (1902).djvu/48

 CHAPTER III.

in the last chapter estimated the gross revenue which may be anticipated from the agricultural part of the estate at £9,750, we will now turn to the town estate (where, obviously, the conversion of an agricultural area into a town will be attended with a very large rise in land values), and endeavour roughly to estimate—again taking care to keep well within the mark—the amount of "rate-rent" which will be freely offered by the tenants of the town estate.

The site of the town proper consists, it will be remembered, of 1,000 acres, and is assumed to have cost £40,000, the interest of which, at 4 per cent., is £1,600 per annum. This sum of £1,600 is, therefore, all the landlord's rent which the people of the town site will be called upon to pay, any additional "rate-rent" they may contribute being devoted either to the payment of the