AMOUNT EXPENDED. 83 



seven millions by private companies. A large 

 proportion of the first has now been repaid, 

 having been returned to the public exchequer, 

 principal and interest, and is no longer a charge 

 upon the land. Two-thirds of the whole have 

 been spent on drainage, the remainder on farm- 

 buildings, labourers' cottages, embanking, water- 

 courses, farm roads, reclamation, planting for 

 shelter, and enclosing. The expenditure through 

 such loans goes on with great regularity at an 

 average of half a million sterling a year, and 

 the loans are being redeemed and the charge 

 extinguished at about the same rate. The 

 extent of work still to be done far exceeds what 

 has been accomplished, and so many new 

 demands arise to meet the changes in husbandry 

 that the system is likely to be a permanent one. 

 It may therefore be useful to consider its 

 present mode of working, the objections which 

 have been made to it, and whether any improve- 

 ment can be introduced which might facilitate 

 its operation. 



An inquiry into this subject was under- Inquiry 



by Parlia- 



taken by the House of Lords in 1873. The ment into 

 G 2 



