Francisco. Between the two cities they could see the white
ferry-boats on the water. Around to their right was Berkeley,
and to their left the scattered villages between Oakland and San
Leandro. Directly in the foreground was Piedmont, with its
desultory dwellings and patches of farming land, and from
Piedmont the land rolled down in successive waves upon Oakland.

"Look at it," said Daylight, extending his arm in a sweeping
gesture. "A hundred thousand people there, and no reason there
shouldn't be half a million. There's the chance to make five
people grow where one grows now. Here's the scheme in a
nutshell. Why don't more people live in Oakland? No good
service with San Francisco, and, besides, Oakland is asleep.
It's a whole lot better place to live in than San Francisco.
Now, suppose I buy in all the street railways of Oakland,
Berkeley, Alameda, San Leandro, and the rest,--bring them under
one head with a competent management? Suppose I cut the time to
San Francisco one-half by building a big pier out there almost to
Goat Island and establishing a ferry system with modern
up-to-date boats? Why, folks will want to live over on this
side. Very good. They'll need land on which to build. So, first
I buy up the land. But the land's cheap now. Why? Because it's
in the country, no electric roads, no quick communication, nobody
guessing that the electric roads are coming. I'll build the roads.
That will make the land jump up. Then I'll sell the land as fast
as the folks will want to buy because of the improved ferry
system and transportation facilities.

"You see, I give the value to the land by building the roads.
Then I sell the land and get that value back, and after that,