re distinct
boundaries of landed property, and this in the interest of the whole
community, which shares in the progress. The more intensive and far-seeing
the methods of farming become, the greater the necessity for fixed
boundaries. This necessity is recognized in all provisions for exact
surveys, complete records of transfers in ownership; and finally for
government guaranty of title. Such ownership underlies all prudential
consumption of wealth for future returns. The loss to communities from
want of it is seen in the waste of game in unappropriated countries and
the destruction of the seals in the seal fisheries. Yet this ownership is
still subject under all circumstances to the law of welfare for the entire
community. The community's right of eminent domain has always been
recognized in the need of public highways and other public improvements,
and is likely to be still further recognized with any new necessity, like
the control of injurious insects or quarantine against disease. Yet none
of these restrictions diminish the necessity of ownership, in the sense of
individual control for all purposes of agriculture, manufactures, commerce
and social relations. This individual control is intimately connected with
our ideas of rent, and would be still, though all the lands were managed
under one proprietorship, and that a public one. Rent would accrue and be
paid, though the whole people held title to the land.

_The sources of land values._--The value of land, like every other value,
is the result of comparisons. Whatever advantage is given to a producer by
his possession of land is likely to form his estimate of its value. In the
comparison of two farms of equal dimensions every difference in fertility,
location as to drainage, exposure, or convenience to market or social
advantages, adaptability to improved methods in agriculture and
convenience of arrangement, will enter into the estimate of worth. If one
of the farms can be had for the asking, the other will be worth just what
its advantages will add to the power of the owner in the production of
wealth, provided both are considered alike as simply machines for
producing food. Usually, however, economy in the consumption of wealth is
considered also. In a new country lands most easily accessible and readily
tillable are chosen first. With added demand for food, less accessible or
less easily tillable lands are occupied. At once the more accessible have
a value equa