Abstract
THE CASE FOR APPROPRIATION by government of all or most of the annual rental value of land and natural resources is so strong that refusal to accept it seems hardly to be accounted for otherwise than from failure to understand it. Many of the misconceptions of it which tend to prevent acceptance I have sought to analyze in various books and articles previously published. But perhaps not all of the misconceptions have been analyzed with sufficient clarity and fullness. Occasionally someone objects to the appropriation-or very heavy taxation-of the royalties from such subsoil deposits as gold, silver, copper, coal and oil, on the basis that such a policy would deprive the prospector of an adequate return. This objection may not be sound, but it ought certainly to be given careful consideration.
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