TIM IRIAN KM OK 1903. in 



sion, prires of 20 to 30 years' purchase 



:it. 1 Of c 



a of iiulividua , have their part in 



large farms, for which there 



not many farmers with l.iri^e capital to 



compete, sell in Li: for 4} 



years' pun .-. inle medium-sizeil (arms in the 



sam< 9- ill years 1 . 1 



Cases in which the same farm has been 

 times sold, before and after the rent- 

 action, show frequently a marked increase 

 in the number of years 1 purchase as well as in 

 ins actually paid an increase which can- 

 ned by fresh expenditure of 

 capital on the part of the tenant. 3 It cannot be 

 said that the rent-reductions have on the average 

 iown Irish rents too much, nor that 

 y have transferred the landlord's interest to 

 tenant in the form of an increased tenant- 

 it ; it is, however, tolerably clear that the 

 t-reductions have fallen almost exclusively on 

 the capital of the landlord, and that the tenant's 

 rest has not been diminished in like propor- 

 tion. The effect of the blind competition for the 

 '1 has been abolished in the case of the land- 

 1, but the tenant can still profit by it in 

 ion of his tenant-right. When the 



;). C contains over 5,000 cases, mostly from the North. 

 ng these are of course a number of exceptional cases of 

 unusually high or unusually low prices. 

 * Fry Commission, App. C, p. 256. 

 3 Ib. t App. D, p. 326-; 



