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8644. UNEARNED INCREMENT, Definition.—

If [the public lands are] sold in
lots at a fixed price, as first proposed, the best
lots will be sold first; as these become occupied,
it gives a value to the interjacent ones,
and raises them, though of inferior quality, to
the price of the first.—
To James Monroe. Washington ed. i, 347. Ford ed., iv, 53.
(P. 1785)