The peculiarity of the Real Estate business in Canada is the undoubted incredible increase of unearned increment due to the miraculous growth of towns and the continual opening up of fertile country. In the new towns of Canada the Single Tax system lends itself to the Real Estate man’s activities. A town site is surveyed by the municipal surveyor. It is cut up into thousands of lots which are registered. The rateable value of the lots is estimated, and the purchaser of each lot purchases it with the obligation of paying the rate on the assessed value as soon as he takes possession, whether he builds on it or not. The Real Estate man carefully studies the municipal map. He estimates the value of the lots for himself. He collects all the information available as to the directions in which the town is likely to spread from the centre. He finds out, as far as possible, what are the probabilities of railways coming to the town. He decides to take a batch of lots—50, 100, or 250. The process is so simple and so free from legal technicalities and costs that he soon finds himself in possession. The municipality wants a rate income, and in the early years of its existence favours the Real Estate man or anybody else who will risk taking the lots and begin contributing the rates upon them. The Real Estate man, having secured his block of, say, 250 lots, has his map drawn with the block coloured and issues the map, probably with a booklet designed to demonstrate that his lots are the snippiest of all the snips in that town. Having to pay the rates and to pay quarterly instalments on the price of the land beyond the rates, if the municipality puts a value on the lots, it is to his interest to dispose of them as speedily as possible. He does not want to build, and certainly he does not want to go on paying those rates and instalments on unproductive land. He sets a value on the lots. If for houses of about 25 to 30 feet frontage and a depth, say, of 120 feet, the value may be $10 to $20 per foot frontage. He disposes of them at this price to new-comers and others wanting to build their houses or to men desirous of having a little fling in the way of a speculation in unearned increment. It is these speculators on increment out of whom the Real Estate man relies to make his main profit. A few lots are sold at $10 and $12 a foot to be paid in one payment down, and the rest in quarterly instalments spread over three, four, or five years. A man buys, say, half-a-dozen lots and pays his first instalment. The agreement is signed then and there in the Real Estate man’s office, and the transaction is entered and a trifling fee paid in the Land Titles Office of the municipality. The whole thing may have been discussed, agreed upon, the deed signed, and the transaction legally concluded within an hour. The purchaser has got his half-a-dozen lots at $300 each and has paid a twelfth of the price. The first instalment may have exhausted the whole of his available money.