23 



A second example, suppose an estate, of inferior 

 quality of soil, yielding 30,000 value of produce, is 

 let at | of this value, or at ,7,500 



The landlord has to pay in annuities =1,500 



Interest on c40,000 borrowed 1 ,800 



3,300 



Available income at this time 4,200 



Interest reduced | per cent. 200 



4,400 



The reduction of 10 per cent, in the value of the 

 produce 3,000 



Present available income l ,400 



A third example, landed income as above 7,500 



The landlord has also <30,000 in money, the inte- 

 rest of which is 1,350 



Total income 8,850 



He then added to his property, by the purchase of an estate, 

 for which he gave <60,000, or 30 years' purchase, on the rental 

 of 2,000 at the time, and he borrowed <30,000 to enable 

 him to effect the purchase,, for which he paid 4% per cent, in- 

 terest. 



Former net landed income 7,500 



Income from property purchased . . 2,000 



Allowance for repairs, &c 200 



1,800 



.9,300 



A reduction of 10 per cent, in the value of 



the produce of the un purchased estate 3,000 



Ditto ditto of the purchased, namely, on 

 ,8,000 800 



Interest on ,30,000 borrowed, which was 



at 4f , and is now at 4 per cent 1,200 



5,000 



4,300 

 C4 



