436 POPULAR SCIENCE MONTHLY. 



tal employed, and the property is paying a rental on three hundred 

 thousand dollars; if you reduce the profits permanently, in any way, 

 to five per cent net, the property would not pay a rental on one hun- 

 dred and fifty thousand; in fact, it would hardly pay any rent at all, 

 for five per cent would be too small to induce a business at all in this 

 country." 



" Movable property always seeks and locates on immovable prop- 

 erty where it thrives and multiplies most rapidly. A spot of ground, 

 a city, a county, a State, or even a nation, that offers the greatest 

 thrift, will be sought and located upon by the greatest quantity of 

 it, and the greater the quantity the more value and thrift will the 

 land have. Any tax levied upon it lessens its thrift, and conse- 

 quently is in violation of the correct principle; though it may not be 

 enough to perceptibly affect it, yet it will have some effect. Though 

 it may not drive any away, yet it will, to some extent, keep other 

 movable property from coming." 



" It is said that it was the last feather that broke the camel's back, 

 while the first had as much to do with it as the last. An oppress- 

 ive tax, such as exists in some parts of our State, drives off a good 

 deal of movable property, and absolutely forbids any more coming 

 to such parts, unless it comes relying upon dodging or evading the 

 law, which large capital never does. Men of small amounts of 

 money, goods, etc., such as one can hide, may come; but men of 

 large amounts of money, to go into open banking, or merchandis- 

 ing, on a scale that can not be hidden, or evade the law, will not 

 come. 



" Here I wish to state a truism which, perhaps, many owners of 

 real estate may never have thought of. It is this, to wit: The renter 

 or lessee of real estate must always prosper before the owner of the 

 real estate can expect to prosper. This is certainly true as a rule, 

 when taken for a series of years, in a country like ours, where land 

 is abundant, and the people free to go where they please. This will 

 apply to all real estate, whether farms, storehouses, shops, or other 

 kinds of realty. I don't mean he must have greater prosperity, but 

 that he must prosper first." 



" Of course, all mankind, where they have lived for a time, form 

 local and social ties, and will submit to some oppression, though 

 their property be all movable, before they get their consent to move 

 away; but with the millions of dollars of movable property we 

 desire to attract to us, no such ties exist ; and if we do not offer quite 

 as much thrift as other localities, and even more, when the property 

 may be already located, we need not expect to attract it to us. But it 

 is just as certain as that the law of gravity will cause the apple to fall 

 toward the earth when it leaves the tree instead of toward the 



