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 right of increase, not a poll-tax. How could a man, hardly capable of cultivating even a few acres by himself, demand of a community, on the ground of its use of ten thousand acres of his property, ten thousand times as much as he is incapable of producing from one acre? Why should the price of a loan be governed by the skill and strength of the borrower, rather than by the utility sacrificed by the proprietor? We must recognize, then, this second economical law: Increase is measured by a fraction of the proprietor’s production.

Now, this production, what is it? In other words, What can the lord and master of a piece of land justly claim to have sacrificed in lending it to a tenant?

The productive capacity of a proprietor, like that of any laborer, being one, the product which he sacrifices in surrendering his land is also one. If, then, the rate of increase is ten per cent., the maximum increase is 0.1.

But we have seen that, whenever a proprietor withdraws from production, the amount of products is lessened by 1. Then the increase which accrues to him, being equal to 0.1 while he remains among the laborers, will be equal after his withdrawal, by the law of the decrease of farm-rent, to 0.09. Thus we are led to this final formula: The maximum income of a proprietor is equal to the square root of the product of one laborer (some number being agreed upon to express this product). The diminution which this income suffers, if the proprietor is idle, is equal to a fraction whose numerator is 1, and whose denominator is the number which expresses the product.

Thus the maximum income of an idle proprietor, or of one who labors in his own behalf outside of the community, figured at ten per cent. on an average production of one