Under such conditions a high price cannot be obtained for public lands; and when they are sold, as they must be, at a low price, the receipts do little more than offset the necessary outlay.

The truth is that people have a very misty idea as to the worth of wild lands.

Even when the soil is rich they only possess the capacity of acquiring value under labor.

All their value arises from the labor done on them or in their neighborhood, except that it depends also upon the amount of labor which must necessarily be expended in transportation.
It is the fashion to speak of the immense opportunity offered to any race by a virgin continent.

In one sense the opportunity is indeed great; but in another sense it is not, for the chance of failure is very great also.