adjoining land, where it offers to advance money for building, and to take pay in monthly installments. This assimilates so much of the enterprise to that at Mulhausen, and shows the drift toward a co-operative phase of capital and labor. Indeed, this tendency will probably prove to be strongly characteristic of all similar schemes as fast as they attain to any magnitude. Tendencies which can be resisted in communities of few hundreds become overpowering when the population rises into thousands. But from the purely commercial point of view, this drift is hardly to be deprecated, so long as the operation of selling houses returns the capital and interest safely.
Projects of this nature go far toward modifying the stress of antagonisms between labor and capital, because if they are successful these are harmonized to an appreciable extent, and this gives public interest to them. The eventual adjustment must come, not from convictions of duty, doctrinaire opinions, or sentiments of sympathy, but on business p