THROUGH AN ASSOCIATION 311 



there are about 200 tenants. One of the original 

 farmhouses has been adapted to hold two of the 

 tenants, and the buildings in each case have been 

 divided off with post-and-rail fencing to accommo- 

 date the tenants holding the largest acreage. The 

 Association pays Lord Carrington's rent, under- 

 takes the fencing, ditching, etc., and the expenses 

 of management, and pays the rates. 



The tenants are charged a somewhat higher rent 

 to cover these items ; but even this rent is lower 

 than the current one for land in small plots in the 

 neighbourhood. 



At the annual gathering of the Association in 

 1904 it was stated that, in spite of the bad season 

 just experienced, the Association had collected 

 during the last two years from their tenantry 

 2,690, and of that sum they had lost only l 13s., 

 while only 7 10s. was still due as recoverable 

 arrears. One of the farms had at that time been 

 let in this way for nine years, and a new lease for 

 twenty- one years had just been arranged. 



THE CREATION OF SMALL HOLDINGS 

 BY LANDLORDS ON BORROWED 

 CAPITAL : LORD HARROWBY'S EVI- 

 DENCE. 



So far we have been considering the question of 

 what may be done in many cases by landowners 

 without the expenditure of much capital. 



