"That the price of land which is divided into small properties, in the Prussian Rhine provinces, is much higher, and has been rising much more rapidly, than the price of land on the great estates. He and Professor Rau both say that this rise in the price of the small estates would have ruined the more recent, purchasers, unless the productiveness of the small estates had increased in at least an equal proportion; and as the small proprietors have been gradually becoming more and more prosperous, notwithstanding the increasing prices they have paid for their land, he argues, with apparent justness, that this would seem to show that not only the _gross_ profits of the small estates, but the _net_ profits also, have been gradually increasing, and that the _net_ profits per acre of land, when farmed by small proprietors, are greater than the net profits per acre of land farmed by great proprietors."--_Kay_, vol. i. 116. The admirable effect of the division of land, which follows necessarily in the wake of the growth of population and wealth, is thus described by Sismondi:--[175] "Wherever are found peasant proprietors, are also found that ease, that security, that independence, and that confidence in the future, which insure at the same time happiness and virtue. The peasant who, with his family, does all the work on his little inheritance, who neither pays rent to any one above him, nor wages to any one below him, who regulates his production by his consumption, who eats his own corn, drinks his own wine, and is clothed with his own flax and wool, cares little about knowing the price of the market; for he has little to sell and little to buy, and is never ruined by the revolutions of commerce. Far from fearing for the future, it is embellished by his hopes; for he puts out to profit, for his children or for ages to come, every instant which is not required by the labour of the year. Only a few moments, stolen from otherwise lost time, are required to put into the ground the nut which in a hundred years will become a large tree; to hollow out the aqueduct which will drain his field for ever; to form the conduit which will bring him a spring of water; to improve, by many little labours and attentions bestowed in spare moments, all the kinds of animals and vegetables by which he is surrounded. This little patrimony is a true savings-bank, always ready to receive his little profits, and usefully to employ his leisure moments. The ever-acting powers of nature make his labours fruitful, and return to him a hundredfold. The peasant has a strong sense of the happiness attached to the condition of proprietor. Thus he is always eager to purchase land at any price. He pays for it more than it is worth; but what reason he has to esteem at a high price the advantage of thenceforward always employing his labour advantageously, without being obliged to offer it cheap, and