4. Mention any cases you may have seen where a greater value was imparted to land by a newly discovered use.
5. A tunnel was made to drain a mine; the stock doubled in price. Was it really the stock, the old mine, or the new hole in the mountain-side that had increased in value?
6. Criticize the statement that, in an economic sense, land is a "fixed stock for all time."
Note.—The changes which the rent concept is undergoing can be traced in the work of Alfred Marshall. See Principles of Economics, Bk. V, ch. IX on "Quasi-rent," and ch. X on "Situation Rent," and Bk. VI, ch. IX, Secs. 6-7, in which Marshall modifies the older conception of rent. This is discussed in "The Passing of the Old Rent Concept," cited above (in note to ch. 10).
Chapter 13. Money as a Tool in Exchange
1. Why do you value money? Do you value it more than the things it buys?
2. What functions does money perform in society?
3. Could a country better do without money, horses, or roads?
4. If money is a tool, what does it make?
5. What is the difficulty in deciding whether to call the following money: gold ingots, gold coin, silver dollars, copper cents, greenbacks, bank-checks, chalk-marks to keep account?