262 TENANCY AND A CONNECTING LINK 



of land in this country is at present yielding so poor 

 a return that many owners who desired to increase 

 that return, and were not unfavourable to the small 

 holdings movement, would probably welcome the 

 resort to such an expedient as the one here suggested. 



The question whether, under these conditions, the 

 land should be leased or bought by the intermediate 

 combination is one the answer to which would depend 

 on circumstances. If a satisfactory lease could be 

 obtained, the matter would be greatly simplified, since 

 there would be no need to raise a capital fund. On 

 the other hand, my objections to the purchase of small 

 holdings by small holders would not apply to the 

 purchase, if necessary, of land by a friendly asso- 

 ciation, syndicate, or trustworthy company, which 

 could command the necessary funds independently 

 of the limited resources of those it would accept as 

 tenants. 



Whichever of these courses was pursued, the co- 

 operative society, syndicate, association, or company, 

 as the case might be, would at once relieve the land- 

 owner of any trouble in selecting and controlling 

 tenants, in making roads, fences, ditches, and drainage, 

 in constructing buildings, etc. It would also open up 

 a much larger area for occupation by small holders 

 than if the land-owner, not caring to undertake all this 

 work himself, simply let off for small holdings such 

 land as he had that was immediately available for that 

 purpose land, that is to say, already having con- 

 venience of access, and, under existing conditions, 

 commanding a higher rental on that account. Not 

 only would the intermediary body probably have been 

 able to make a better bargain for the land at the 

 outset than a County Council could have done, but 

 it would accomplish the work of development at a less 



