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Land and rent.

his opportunity to exploit the consumer's disposition to buy cheap. The effect of freedom is not felt here in the same way and with the same directness that it is felt elsewhere.

There are other grounds, however, some of them indirectly economic, some of them purely sentimental, which justify the belief of the Anarchist that a condition of freedom will gradually modify to a very appreciable extent the advantage enjoyed by the occupant of superior land. Take first one that is indirectly economic. I agree with my correspondent that great cities are not destined to disappear. But I believe also that they will be able to maintain their existence only by offering their advantages at a lower price than they now exact. When the laborer, in consequence of his increased wages and greater welfare resulting from the abolition of interest, shall enjoy a larger freedom of, locomotion, shall be tied down less firmly to a particular employment, and shall be able to remove to the country with greater facility and in possession of more capital than he can now command, and when the country, partly because of this mobility of labor and partly because of the advances in science, shall continually offer a nearer approach to the undoubted privileges of city life, the representatives of commercial and other interests in the great cities will be able to hold their patrons about them only by lowering their prices and contenting themselves with smaller gains. In other words, economic rent will lessen. Here the disposition to buy cheap, not any special commodity, but an easy life, does exert an indirect and general influence upon economic rent. And, under this influence and yielding to it, the city may increase in prosperity simultaneously with the decline of economic rent. Nay, the increase in prosperity may accelerate this decline; for under liberty increased prosperity means also well-distributed prosperity, which means in turn a lowering of the barriers between classes and a consequent tendency to equalize the different localities of the city one with another.

Upon the sentimental grounds for believing in the evanescence of economic rent it is perhaps not worth while to dwell. I have an aversion to definite speculations based on hypothetical transformations in human nature. Yet I cannot doubt that the disappearance of interest will result in an attitude of hostility to usury in any form, which will ultimately cause any person who charges more than cost for any product to be regarded very much as we now regard a pickpocket. In this way, too, economic rent will suffer diminution.

I think my correspondent fails to understand what is meant