1906-7.] : IGNORED DISTINCTIONS IN ECONOMICS. air 
Individuals, by spinning, weaving and fashioning can add value to 
the raw material; but no individual can make land-value. The value of 
the locomotive depends largely on the amount of utility that labour has add- 
ed thereto. Half finished it is worth so much, more finished it is worth still 
more. But the value of the land depends on the presence of the com- 
munity, the greater the concentration of population the greater is the 
value of the land. 
The locomotive value is an “individual” value, due to the toil that 
individuals have bestowed thereon; but the value of the land is a ‘‘ com- 
munity ’’ value, depending on the presence and aggregation of population. 
As the city grows the houses and goods are multiplied. The increasing 
value of these is a value of ‘‘extension”’ indicating their increased abun- 
dance. But as population increases on a given area, the land is divided 
and subdivided, till where the first settler found a thousand acres available, 
there crowd a thousand people on a single acre. The increased value 
of the land does not indicate any increase in the acreage, but the increased 
value of each acre. The more the crowd becomes congested and the more 
the people must economize in land, the dearer it becomes. ‘This is a 
value of ‘‘intension.”’ 
The boy who cleans my boots this morning must repeat the operation 
to-morrow morning. The value will not last more than twenty-four 
hours. The fruit that comes to the market this morning, must be sold 
before the night. The paper of to-day, will be valueless on the morrow, 
and the meals must be repeated three times every day in the year. The 
value that labour produces declines with marvellous rapidity. The eity 
must have its constant stream of supplies or there will soon be dearth. 
When a snow blockade cuts off the supply of milk, we see then how close 
is gaunt starvation. Labour-produced values fade as does the leaf; they 
are marked with transition and death. 
But with the value of the land in the growing city it is utterly differ- 
ent. The land of New York city, which sold in 1626 for $24 is worth 
to-day more than a hundred million times that figure. This value not 
merely remains year after year, but with every addition to the population 
it increases. The value of the goods in the store will have disappeared 
in afew days; but the value of the land beneath the store may continue 
till the crack of doom. Fashions change, the moth doth corrupt and thieves 
may break through and steal, fires may consume; but neither the gnawing 
tooth of time, nor the corroding of rust can diminish the value of the land. 
For more than a century the civic population on this continent has doubled 
every ten years and the value has advanced to such a degree that the acre 
