Suppose I owned a piece of land which yielded me an
annual income of say ;£"$, and that the current rate of
interest were fi\|^ per cent. You know that the selling
value of such a piece of land would then be ;f loo."

"Of course."

"Next we will suppose that a tax of ten shillings in
the pound is imposed on ground values ; so that, after
paying this tax, the net revenue from the said land
would only be £2 ids., then "

Digitized by LjOOQIC



AMOTHER CHAT WITFf THE SOCrALIST, 55

'*Then your land would be worth at the outside £$0.
