3 INDEBTEDNESS OF THE LAND-HOLDING CLASSES. 



which would be collected from him in the same way as the land 

 revenue, next after any sums due to the Government. The estates on 

 which such loans are secured should be free from other encumbrances, 

 and it should probably be enacted that no claims on the land should be 

 recovered except by the Collector as above stated, and that he should 

 recover none except those thus openly arranged before him. The 

 landholder would be required to surrender his right of transfer or sale 

 while his holding is thus charged. His power of improvident borrow- 

 ing would certainly be restricted, but he would be protected from the 

 danger of losing his land, while the creditor would have good security up 

 to a certain definite and calculable limit, and would be able to lend at 

 moderate interest. If a landholder is unable to offer the security 

 necessary to enable him to obtain a loan on these terms, we would not 

 withdraw his power to sell his rights. Nor would we be understood 

 to recommend any interference with the free transfer of landed pro- 

 perty, or with the rate of interest, except in cases where, and so long 

 as, the condition of the landholding community presents unhealthy 

 symptoms which seem remediable by such expedients. 





