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ally true, that the rent of land is not determined 

 by landlords but by tenants. As regards the small 

 crofters, this doctrine is modified to some extent by 

 the local attachment of a population, which may 

 sometimes be induced to bid above value by the 

 desire or determination to remain where they are 

 even at a sacrifice. But there is no such elem.ent in 

 the value set upon land by the capitalist class of 

 tenants, whose action is entirely determined by an 

 intelligent calculation of outlays and returns. 



Taking this test, and applying it to seven of the larger 

 farms in Tyree, I find that on these farms the rental of 

 1847 ^^s been increased by about 220 per cent. 

 The figures are — rental of 1847, £700. Eental of 

 1883-84, £2260. I need not point out to your Lord- 

 ship (although it does seem necessary to point out to 

 many other people) what this more than tripling — in 

 some cases the quintupling — of rental means. It means 

 an enormous increase of production. As rent is seldom 

 more than one-third, and is oftener not more than one- 

 fifth of the total produce, the above figures mean that 

 the seven farms in question now turn out at least 

 ;^678o woith of human food, instead of food to the 

 value of only ;^2ioo. 

 Great rise of rent This great rise of rent is not to be considered as an 

 quite exceptional, example of any ordinary increase in the value of 

 agricultural land. I have elsewhere said that the first 

 application of sheep to the mountains of the Highlands 

 was like the recovery of an immense area of country 

 from the sea. It is as stupid to object to it as it 

 would be stupid to object to the drainage of the 

 *' Bedford Level." The increase of value which has 

 arisen on some farms in Tyree, consequent on my 



