The day book. [volume] (Norfolk, Va.) 1857-1867, 1866-07-23
The Rent Question.

subject of supply and demand. We would
acceptits &c cathedrG declarations with pro-
found respect, but for the trihing circumstance
that certain authorities, among whom are SAY
RICARDO, De QUINCY, and that profound
thinker, the foremost political economist Of
Great Britain, JOHN STUART MILL, happen
TO say just the opposite of that which our CO.
temporary asserts with such complaisant en-
phasis. But the Virginian, like the young
man who, in the debating society, when dis
cussing a constitutional question, begged leave
TO differ with Mr.. WEBSTER, begs leave to
differ with Mr.. Mill. Under these circum-
stances, we must be pardoned if we prefer to
err with the great political economist Of the
age, and withhold our assent to the new and
profound theory upon the abstruse subject Of
rent which our contemporary characteriZes as
popular ideas hastily sketched," and
graciously propounds for our information.
Before proceeding further, it may not be
,rrelavent to state that, SO far as the interests
Of the writer of this paragraph are involved
they are all with the tenants, as be belongs to
that unhappy class of the community; but in
question OF abstract right, no personal con-
sideration can influence his opinion This
statement, somewhat egotstical, perhaps, is
made to avoid the imputation of lack of sym
uathy with those who complain Of exorbitant
charges.
We were not aware that the system Of land
lord and tenant was a relic of the barbarous
DAYS of Old England. 1t is ratheran upward
step in civilization, and can hardly be regard
ed as relic or system sprung from barbarism
True, it is old; but not relic Of barbarous
DAYS. 1t is rather an evidence of refinement
and civilization and law-this system Of land
lord and tenant. 1t is mark of progress
and social order. If it be true that the entire
real estate be owned by about two hundred
persons--the assertion that it descends from
father to son, as do the lands of England, re-
quires much salt to give it SAVIOR. Real, as
we'll rs personal estate, at the death of the
owner, is generally divided equally among
bis offspring. 1t becomes ditfused-and in
the place OF one wealthy man, with the in
huence which wealth exercises, we have sew
sral less wealthy members in the community,
zach with portion, but not the influence, of
the wealth of the progenitor. 1t was to effect
this diffusion that Mr.. JEFFERSON opposed the
law of entail. So that, Virginia does not
differ in this matter from other portions of the
country, and real estate is as merchantable a
commodity as any where else-and sold as it
is any where else. 1t is not, therefore, held
as an heirloom.
No political economist has ever regarded
the law of supply and demand as mythical
or fictitious" as the Virgnian asserts it is
and we confess our surprise at the application
Of such terms to law universally recognized
as having real, substantial, palpable ex-
istence Every merchant and shopkeeper
in our midst understands its operation, and
obeys the law, whenever he purchases barrel
of -four To our contemporary, however, it is
mythical and fictitious" the authorities and
mercantile experience to the contrary not
withstanding.
Rents, the Virginian says, are not governed
by the law of supply and demand, though
the sale OF houses is so governed by this
mythical and fictitious law" If landlord
avail himself of the demand for houses, he
may sell, according to the operation of the
mythical or fictitious law"--that is, he is at
liberty, without being Oppressive" to get all
he can for his house but if the demand be
for houses "to let" he shall not be permitted
to do what he pleases with bis own, but shall
rent it at price fixed by the would-be tenant,
or the Legislature is to be petitioned to fix
basis for rents" This is the most ultra
form Of reform which we have ever seen in a
virginia newspaper since the editorial career
mere OF THEoPHILUs FIsKE-so-called reform,
TOO, to which the Virginian was so much OPP
posed in the recent municipal elections. The
idea OF petitioning the Legislature to inter-
isre with the rights of class of the COM
munity, and say what they shall or shall not
charge per annum for "house to let" is one
OF the most absurd and preposterous propo-
Stions ever preached in an intelligent COM
mullty; and is an advocacy Of that erroneous
system of protection which clogs the free OPP
efatlons of trade, and places shackles upon
individual rights, to which the enlightenment
u the age is so thoroughly opposed. 1t is
al advocacy Of the protective system in its
worst and most abhorrsnt form, such as
Slaracterises the fierce prohibitory spirit of
connecticut blue-laws, in those days Of mad
sa1tanism, when witches existed and were
drowned, and when a man was prohibited
Alsslng his wife on Sunday. ''The diff
guilty, says Mr.. Mill, "of attainment which
uetermines value,is not always the same kind
VI dltlculty 1t sometimes consists in an alb
sp!ute limitation of the supply. There are
lungs OF which it is physically impossible to
Increase the quantity beyond certain narrow
units. Such are particular wines ancient
sculptures pictures by the old masters rare
books, &c. Among such are houses and
Guiding ground in town of definite extent.
The most desirable sites in any town what.
ever; houses and parks peculiarly formed by
natural beauty" These are the circum-
stances which determine the value. It is the
u'neulty of attainment, and hence the urgen-
cy of the demand.
NJ me supply of 'the most desirable sites" in
tSofloik has been exhausted; a demand exists
W. W. more OF them-they cannot be had-and
tns landlords acting, as all men do in mat
v ssa OF business, upon the selfish principle
very naturally avail themselves of the de,
n msna which enhances the value of theil
tnhGpefty. If the position of the tenants was
sueils, we should in all probability find {