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monopoly of land is the most absolute of all mono- 

 polies, for, the desire to possess being 1 acted upon by 

 the necessity of procuring- the means of existence, 

 the price is forced up to the very highest possible 

 point, and people are left no alternative but to pay 

 it or starve. In such cases, the seller certainly fixes 

 the price ; and to this state of thing's only, is the 

 reasoning- above given applicable. 



The question then is, is the present one of these 

 cases ? Are these conditions now found in India ? 

 Certainly not. Contrary to received opinion, land, 

 not population, is here in excess. The revenue, 

 moreover, is fixed in perpetuity, and, as a matter of 

 course, its value is simply a question of calculation ; 

 or it is settled periodically, usually on the metayer 

 principle of leaving 1 half the surplus profits in the 

 hands of the landholder. In all cases the people 

 are left in possession, and latterly, where the lands 

 of provinces have been re-settled, rates have been 

 reduced. Admitting' constitutional Government 

 then, what the Government can afford to take for 

 the land is altogether beside the question. Its 

 demand, except under a threat of enhancing- present 

 rates, could not influence prices one iota. What is 

 required to be known, is simply, what the land, or 

 rather the Community's share of its produce, is worth . 

 what it will fetch in the market. That is its price 

 and the Government, if it desires to sell, must take 

 that, or nothing- at all, 



Such being- the condition of thing's, it may not 



