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At the moment we have reached the lord of a manor had been reduced over a large part of England to the position of a modern landlord, receiving a rental in money from his tenants and supplying their place in the cultivation of his demesne lands by paid labourers.
On the floor above, also in large, bright rooms of high rental, and so that they were exchanging visits frequently during the day, often en déshabillé, using the stairway that wound up round the elevator shaft, lived a certain Mrs. Kitty Drew, I believe she called herself. She was plump and blond, and so very scented that her aroma lay on a hallway for an hour after she had scurried through it.
It must at once be apparent that this son of his father, economically speaking, performs no function in the community, but merely takes from the community an annual toll or rental based on his ownership of a part of the land upon, which his fellowmen depend for a living. Of what will this toll consist? Of bread, shoes, motor-cars, cigars, books and pictures, the products of the labor of other men.
In three months the first and only store was put into the hands of an assignee and the man left the city. An audit of his accounts showed that he had collected $3,600. One-fourth of this had gone for promotion expenses, $2,350 for rental, fixtures, etc., leaving only $350 for operating expenses. Where the Finns spent three-tenths of one per cent for promotion he had spent twenty-five per cent.
One third of all the rental of France was discovered to be absolutely mortgaged, and another third was swallowed up by other encumbrances, leaving but one third free for the use and benefit of its owners. In other words, a great proportion of the people of France were embarrassed and poor, and a great proportion of the remainder were fast becoming so.
At a minimum, such legislation should open the way for rebuilding the blighted areas of our cities and should establish positive incentives for the investment of billions of dollars of private capital in large-scale rental housing projects.
"No, I don't say that, Marquis. I will look with care into the matter. Doubtless you have with you an abstract of the necessary documents, the conditions of the present mortgages, the rental of the estate, its probable prospects, and so forth."
This stimulus consists of establishing a new system of yield insurance to encourage large-scale investment in rental housing and broadening the insuring powers of the Federal Housing Administration and the lending powers of the Federal savings and loan associations. Where private industry cannot build, the Government must step in to do the job.
As it was necessary that I should reside as near as possible to the works, I had plenty of opportunities for enjoying the rural scenery of the neighbourhood. I had the good fortune to become the tenant of a small cottage in the ancient village of Barton, in Cheshire, at the very moderate rental of #15 a year.
In May, 1802, he proposed the formation of a Legion of Honour, organized in fifteen cohorts, with grand officers, commanders, officers, and legionaries. Its affairs were to be regulated by a council presided over by Bonaparte himself. Each cohort received "national domains" with 200,000 francs annual rental, and these funds were disbursed to the members on a scale proportionate to their rank.
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