AGRICULTURAL ECONOMICS 



products as high in the one place as m the other. 

 Some districts produce more high grade farmers 

 each generation than do other districts, and as a 

 strong motive is required to impel the surplus of 

 farmers to remove to another district, competition 

 in the over-populated district forces the rents and 

 the prices which are paid for land higher and 

 higher until they are appreciably above the level 

 of those which are paid for land in other districts 

 which are capable of producing crops which are 

 just as valuable in terms of money. 



Again, it sometimes happens that land is val- 

 ued for the social standing which accompanies its 

 ownership, as well as for the income in money 

 which it yields. In a country where this is true, 

 and where, at the same time, there are large num- 

 bers of persons who have great fortunes and who 

 are very desirous of attaining to a high social 

 position, the prices which may be paid for land 

 often rise far beyond what could be paid if the 

 series of annual incomes in cash were the only 

 factor to be taken into account. 



Of two pieces of land which will rent for the 

 same amount, that in one district may sell for a 

 higher price than that in another because there is 

 more money seeking investment in the one place 

 than in the other. A man of wealth will usually 

 rather have his capital invested in land near where 

 he lives than at a great distance where he cannot 

 so readily look after his property, or if he invests 



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