Our National Resources And Our Federal Government

Continued discussion of the paper of R. W. Raymond, presented at the Cleveland meeting, October, 1912, and printed in Bulletin. No. 70, October, 1912, pp. 1111 to 1122. See also discussion printed in Bulletin No. 74, February, 1913, pp. 319 to 329. R. B. BRINSMADE, Puebla, Puebla., Mexico (communication to the Secretary *) :-Though I heartily approve of several minor points emphasized by Dr. Raymond (such as the general desirability of local administration, rather than Federal, and the evils inseparable from the Federal Apex Law), I feel obliged to dissent from his four final propositions. As Dr. G. 0. Smith has already discussed these propositions from the standpoint of the experience of other countries, I shall base my criticism upon certain general economic principles, which will be grouped under the following five topics: 1. The dual theory of property. 2. The essential factors in fixing prices. 3. The relation of land ownership to the distribution of wealth. 4. The relation of land ownership to speculation and development. 5. The relation of land ownership to the political power. I shall give here only a brief outline of these topics, as they are fully treated in the standard treatises on political economy.1