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THE TOWN EXTENSION PLAN
55
| 100 acres at £500 | = | £50,000 |
| Less 100 acres at the agricultural value of £50 |
= | 5,000 |
| Total increment | = | £45,000 |
FIG. 7.—Diagram illustrating the increased area of land required for building purposes if the whole of the population, in a town having an annual increase of 17,000 people, were provided for, in the upper half at the rate of 34 houses per acre as in Scheme I., in the lower half at the rate of 15 houses per acre approximately as in Scheme II. The figures show the increased increment of land values and the possible reduction in the price of land which might result therefrom.
Now let us see what would be the result if the whole of the building ground around Manchester were developed in
