"As a preliminary step, a hungry host of individual capitalists and land syndicates, proceed to purchase large tracts of adjacent lands at farm prices. These lands are then sub-divided into villa sites, and into a variety of sizes of town lots. Prices are placed on these lots, which would about equal the value of the ground, when in course of time, at the edge of the city, they should be covered by dwellings or business houses. This accomplished, the holders like cormorants, sit and wait for the growth of the city and the efforts and capital of other people, to so increase the value of their holdings, that they can realize their prices and take their profits. These periods of waiting, may cover a long time, often, from one to twenty years. Meanwhile, these monopolized lands are kept out of use, because on account of high price, they cannot be used for agricultural purposes. "Why can these land monopolists afford to wait so long? Because an inequitable system of taxation, discriminates in their favor; offering aid and encouragement for them to do so. Without this aid, it would be impossible to keep these lands out of use. "How can this happen? In the first place, these sub-divided lands, as a whole in large tracts, are assessed at the rural rates applied to unused and unoccupied lands. These assessed values, may be so low, as to be less than one per cent of the asking price of the lots. As time passes, they are liable to be slowly increased. Under such a discriminating system of assessment, the taxes that may be collected, are merely nominal. This unequal system of taxation, is applied, in a proportionate degree, to all unoccupied lands inside the city limits, which are held out of use by the land speculators. "How does this state of affairs affect city rents, and at the same time, assist in preventing the poorer classes from enjoying the advantage of country homes? First, it establishes a broad zone of monopolized land around the city. This zone continues to increase in width with the growth of the city. Scattered through this zone, are many tracts of farming lands in active use. For this reason, they have to bear an extra burden of taxes, in order to equalize the low rates on such large tracts of idle land. These heavy taxes are patiently borne by the resident farmers, with the hope of reimbursement in the near future, by being able to sell their farms for extraordinary prices. In this way, abnormal prices become firmly established throughout the zone; which like some great barrier most effectively confines the working man and his family, to the narrow limits of a city tenement, with its high rents.