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Economy, or to the more recent careful and thoughtful researches of M. Emile de Laveleye. I will quote from M. Léonce de Lavergne, at present the stock authority of the opponents of small landed properties. What says M de Lavergne in his latest production, an article in the Revue des Deux Mondes of the 1st of December last? "As a general rule, the lands held in small properties are twice as productive as the others, so that if this element were to fail us, our agricultural produce would be considerably diminished." Those who still believe that small peasant properties are either detrimental to agriculture or conducive to overpopulation, are discreditably behind the state of knowledge on the subject. There is no condition of landed property which excites such intense exertions for its improvement, as that in which all that can be added to the produce belongs to him who produces it. Nor does any condition afford so strong a motive against overpopulation; because it is much more obvious how many mouths can be supported by a piece of land, than how many hands can find employment in the general labour market. The danger of subletting is equally visionary. In the first place, subletting might be prohibited; but on the plan I propose there is no necessity for prohibiting it. If the holder, by his labour or outlay, adds to the value of the farm, he is well entitled to sublet it if he pleases. If its value augments from any other cause than his exertions, it will generally be from the increased prosperity of the country, which will be a proof that the new system is successful, and that he may sublet without inconvenience. Only one precaution is necessary. For years, perhaps for generations.