"[S]uppose the town authorities purchased sites of land and erected great buildings such as I hold are suitable for the class that would inhabit them, the land so purchased and the dwellings so built would belong to the people of the town in which the operations took place, because the corporation or the town council is merely the representative of the people and merely distributes the rates and administers the rates they raise for the people; and, owning the houses, would own them in the name of the people, who would be virtually the owner of an enormous proportion of the dwellings in which they lived. (Cheers.) Under these circumstances, gentlemen, you would have no rack-renting, there would be no motive for rack-renting, for the profits which would arise from very moderate rents would be amply sufficient to maintain those buildings in repair, and would leave a margin for new buildings to be erected."