My Little Farm 



has got a dual total of forty years' purchase in all ; 

 and as we have it announced in Parliament that 

 the present average for the landlord's interest is 

 twenty-two years' purchase, it follows that about 

 eighteen years' purchase has been got for the 

 tenant's interest in the hitherto untenanted 

 Abercorn estate. In this instance, however, crime 

 does not appear to have been organised with the 

 usual care to " facilitate " the operation of the 

 law ; but on the other hand we have undertaken 

 to cure congestion " without injustice," and so we 

 are bound to take something like eighteen years' 

 purchase as to the honest value of tenant's interest 

 in untenanted land in addition to the landlord's 

 interest. With these facts before us, let us now 

 return to our " emancipated " peasant across the 

 fence. 



His purchase-money in respect of landlord's 

 interest at twenty-two years' purchase is ^990, 

 and in respect of tenant's interest at eighteen 

 years' purchase it is 810 more. The building of 

 a moderate house will be 300, and 200 will be 

 wanted for working capital. This makes a total 

 of .2,300 to be provided by the Chanceller of the 

 Exchequer, who in Ireland has already conceded 

 the central principle of Socialism, namely, State 

 capital. For interest and sinking fund, at 33- per 

 cent., the peasant's annuity is now over jo a year, 

 and local taxation brings his total annual liability 

 up to about 80, which will be 2 135. per acre, 

 as against .1 33. in congestion, on land naturally 

 the same, with the fertility of the new farm sure 



