[Letter] Feb.28,1890,Smith College [to F.H. Giddings]

Feb. 28, 1890, Smith College.

Dear Friend,
       Very many thanks.
The suggestions are of great
value and I think I shall
act on all of them.
 Walker means something
different, by 'opportunity'from
that which figures in my
theory; but the word is the
same, and I must make the
difference clear. He would be
quite likely to reply exactly as
you say.
 I do not see why your
meaning is not sound as to
the correspondence in our
point between gains due to
opportunity (Telephone) and
those due to superiority of land.
As far as effect on price is
concerned these now seems to
me to be just that analogy.
I have wished to keep this
price question out of mind, if
possible, since it appears to
me to need a pretty radical
overhauling , and it is out of
the question to give it now.
 As to the increasing returns
I agree with you if you
mean that beyond a certain
limit the gain is questionable and in
some cases improbable. If it holds true
in many cases within a pretty distant
limit that is all that is necessary for the
argument, is it not? The operation of the law
needs certain conditions that are by no means
universal in practice.
 I heartily agree that the main
question lies in Walker's corollaries, as to
residual claims etc. Very many thanks again.
I want much to talk over with you the whole matter
of rent as related to price. Shall you come here this summer?
Would you think now favorably of occupying my house, and
keeping my cook and my collie dog through
the summer in case we all migrate?
Of course the house would be rent free. Our
plans begin to take such a shape that the
arrangement would be practicable, in so far as
I now see.

           Yours Very Truly,
                 J. B. Clark