such opportunities for investment. These investors through capital
wish to live without effort, upon the proceeds of the labor of others.
They seem to understand clearly, that to own land, is to own the
services of the people who must have access to the land in order to
live. This is why a land monopoly is more to be feared than other kind.
For this reason we may well be alarmed, as we note from time to time,
the large tracts of land which are being purchased by wealthy
individuals, foreign syndicates, home corporations and land monopolists
generally, who are quietly operating, while prices are so abnormally
low, to obtain such complete control of our valuable agricultural lands,
as will enable them in the near future, by a concert of action, to raise
prices to such a pitch, that practically they would then be beyond the
reach of the ordinary farmer.

"These shrewd, far-seeing monopolists, having obtained control of the
lands in question, can dictate such rents to all applicants, as will
barely enable them to live. As a matter of fact, it is quite probable
that they would much prefer not to rent their lands, because they could
save for their own pockets, the wages of a great many workers, for at
least five months in each year, by placing five-thousand-acre-farms in
charge of a superintendent; who with two assistants, could live on the
farm, taking proper care of the stock, tools and machinery, throughout
the year. During the seven busy months, beginning about the first of
April, transient labor, of the homeless tramp order, could easily be
procured to work by the day, week or month, as the needs of the farm
might demand.

"The growing competition for even this kind of uncertain employment,
would tend constantly to reduce the wages. The danger from this source
has been fully demonstrated during the past twenty-five years, by the
adoption of this disposition of their holdings, on the part of a great
number of large land owners. The success of the bonanza farm, has proved
perniciously infectious. Our small farmers, already in financial
distress, cannot hope to compete with such large farms, so recklessly
cropped by the monopolist for the largest possible cash returns, without
regard for the future condition of the soil. To double the capital
invested in five years' time, is the only concern of the investor.
Whatever the land will sell for thereafter, is only so much additional
profit.

"We cannot close our eyes to these