"Land" and "Capital" Indistinguishable.

It may be noticed that there is no attempt in this table to distinguish between what Land Nationalises might think should be classed as land, and what they would admit to be capital. The common sense of the ordinary business man and statistician recognises that such distinction is impracticable and arbitrary. To the business man they are both equally forms of property, merely different kinds of investments—that is, arrangements for obtaining a revenue from the labor of others. The practical statesman sees in them simply sources of income, and assesses them equally to income tax. Indeed, that famous tax of 20 per cent. on rent, of which the English Land Restoration League and many Radicals are demanding the revival, was not imposed^* as a land tax at all, but formed part of the incidence of a general tax of four shillings in the pound on the annual value of All Realized Property and Saleable Interests, excepting only farm stock and household furniture. Will not the Land Nationalises take this hint, and include all unearned incomes in their "Single Tax" Programme?