Principles of Political EconomyPerry, Arthur Latham
General
Principles of Political Economy
Perry, Arthur Latham
Economics
(d) This line of proof, strong in itself, is strengthened by observing
how land-parcels gradually and practically pass out from the second
into the third class of lands,--from the Valuable into the Unvalued.
As it is only human Efforts wisely bestowed upon valueless lands or in
some connection with them, that ever make these valuable, so it is,
that these Efforts intermitted for a time, or less wisely bestowed, or
reckoned less in harmony with the present and prospective desires of
other men, invariably cause a loss of value in valuable lands; and, if
such neglect or unwisdom of effort continue long enough, nothing is
more certain, than that lands so treated will lose their value
altogether, nobody will give anything for them, they will drop out
from the second class into the third by the same path (only in inverse
order), by which they crept at first from valueless to valuable. Under
the writer's own observation in different parts of New England, whole
tiers of farms once valuable and productive have lost that character
either wholly or for the most part, taxes can no longer be collected
from them, nobody will really give anything for them in exchange, they
are abandoned of their former owners, they are left to lie waste or to
grow up into forest again. It follows from all this beyond a doubt,
and the logical issue is one of vast consequence to mankind, that
Value is no attribute of matter, no inherent quality of lands as such
wherever situated, but it comes and goes, it is a relation of mutual
purchase between human services rendered and received.
Public-domain text, read in full here on John Shaqi.
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