a selected class. They are usually at the most vigorous time of life and
of hardiest and most enterprising spirit.

They leave behind them the very young and the old and those enfeebled by
disease or habits. To this cause must be attributed in part the
exceptional record of Pullman in death rate, as it is a new town. Yet
there can be no question that the sanitary conditions of the place are
excellent. It is difficult in mixed enterprises of this nature to tell
what the rate of profit upon the tenement part of the business is, since
the rental and the factory react upon each other; but in the American
instances quoted in this article the investment as a whole is
remunerative. In the Godin operations at Guise, which have been
co-operative for the last five years, the capital is put at $1,320,000,
and the net earnings have averaged during that time $204,640 per annum,
or 15½ per cent.

At Pullman a demand has arisen on the part of the tenants for a chance to
acquire proprietorship in their homes; and while the company has withheld
the privilege from its original purchase of 3,500 acres, it has bought
adjoining land, where it offers to advance money for building, and to
take pay in monthly installments. This assimilates so much of the
enterprise to that at Mulhausen, and shows the drift toward a
co-operative phase of capital and labor. Indeed, this tendency will
probably prove to be strongly characteristic of all similar schemes as
fast as they attain to any magnitude. Tendencies which can be resisted in
communities of few hundreds become overpowering when the population rises
into thousands. But from the purely commercial point of view, this drift
is hardly to be deprecated, so long as the operation of selling houses
returns the capital and interest safely.