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Thanks Mallet for his long letter [94/111]. Contends that the latter exaggerates the extent of their disagreement in relation to various aspects of political and economic theory, with regard to, e.g., dispensing distributive justice, private capital employed in production. Refers also to what he [Sidgwick] says in chapter seven [of his book] on 'the "increasing inequalities" ', and acknowledges that the statement should be further explained, as Mallet 'understood it to contradict the conclusions of Giffen.' Claims that there is 'no such contradiction', and outlines what he believes Giffen attempted to prove in relation to the income of manual labourers, referring to the increasing difference between the highest and the lowest class of that group. Denies that he 'has "ignored the international point of view" in what [he says] of the nationalisation of the land.' Claims that '[t]he claim of the rest of the human race on the land now held by Englishmen is not in any way implicitly denied by the agreement of Englishmen to hold their land in common', and that it would only be affected by the prevention of immigration into England. Refers to his own paper read at the Political Economy Club. [Incomplete].