82 THE LANDED INTEREST. 



5 per cent, from his tenant, and paid I J out of 

 his own pocket for this permanent advantage. 

 Especially was this the case in regard to build- 

 ings, the return from which is not so direct or 

 immediate as from drainage or reclamation, 

 followed The same principle is followed by the Land 



by loans 



from Com- Improvement Companies, whose loans, like those 



panics. 



of the State, are secured by priority over all 

 other charges, but continue for twenty-five or 

 thirty years, according to the rate annually paid. 

 It has been proposed to extend the term still 

 farther, in order to reduce the rate of annual 

 repayment ; but this is a questionable advan- 

 tage, for each generation has improvements of 

 its own to carry out, and it is a good general 

 rule that the cost of the past should be paid 

 off before new charges are placed on the land. 



The total amount of money charged on the 

 Total land of the United Kingdom for agricultural 



amount so . . . 



expended, improvements under the system of periodical 

 redemption, in the last thirty years, amounts to 

 about fifteen millions sterling twelve in Great 

 Britain and three in Ireland. About eight 

 millions of it was advanced by the State, and 



