CHANGE OF INSTITUTIONS 167 



binding. He found himself a free economic unit 

 with work ready to hand and every incentive to 

 undertake it to the extent of his capacity. In 

 these circumstances he learned discipline and ad- 

 opted new standards of labour. Last, but not least, 

 the fact that land could be purchased in suitable 

 holdings afforded a good incentive to ambition and 

 to thrift, and an excellent investment for his capital 

 and for his labour, when the period of indentured 

 labour was completed. 



