THE LA W OF SETTLEMENT OF LAND. 289 



profitable, the remainderman cannot lose by having 

 to pay the charge for a limited number of years. 



But the great point is the clear recognition by 

 landlord and steward and tenant that the whole 

 transaction is one of business, and must be made 

 profitable accordingly to all concerned. The larger 

 the sum laid out in profitable improvements, the 

 better for the landlord; the turning point is the 

 profit. If an improvement will not pay the interest 

 on its cost, it is a fancy improvement ; that may be 

 very fit for a wealthy man, but is not of public concern. 

 Labourers' cottages, as I have said, are, in one sense, 

 an exception, and the rise of wages is helping to get 

 over even that difficulty. Under a business system, 

 of course, too, there will be much fewer cases of rents 

 30 per cent below the true value of the land, and 

 of bad farmers injuring the estate. There is no 

 reason why it should be a harsh business system. 

 Thoroughly fair and honest dealing to all, landlords 

 no less than tenants, may well be its motto. 



