42 



this is clear. Because, while in both cases, the 

 working" expenses would go to enrich the labourers 

 (his tenantry), in the latter, receiving- all the profits 

 himself, he would be able not only to live with 

 greater splendour, but to spend a very large sur- 

 plus, in works for the improvement of his property, 

 and for the public good. In other words, the entire 

 portion of Jones 7 wealth would still remain on his 

 estate, the unproductive being* made productive 

 and the productive, as the natural result of the 

 greater prosperity of his tenantry, being increased 

 many fold. 



But as the major part of the success of all under- 

 takings is good management, and as experience has 

 pretty well established that no system of checks 

 fully compensates for the absence of the e master's 

 eye/ it is quite possible that Jones, if possessed of 

 a very large estate, might find himself somewhat 

 embarrassed on this score. His time would be much 

 occupied with other pressing matters. He would be 

 busy examining the accounts of the collectors of his 

 rents ; looking after the settlement of disputes and 

 the punishment of offences ; giving instructions to 

 his engineers for the construction of works of utility, 

 canals, roads, bridges, &c. ; and other business con- 

 nected with the management of his estate ; and could 

 probably devote but a very moderate amount of 

 time and attention to operations undertaken with 

 the view of opening up new sources of wealth. It 

 would be a sine qua non, therefore, if he decided on 



