CHAPTER II 

 TENURE 



LEGALLY speaking there are many varieties of 

 tenure, some being survivals of the comphcated 

 ^systems of the Saxon and Middle Ages, but in 

 this chapter the word tenure is meant to embrace only 

 two main systems under which land is occupied to-day — 

 occupying ownership and occupying tenancy. Whereas, 

 in most countries of the world occupying ownership 

 forms the basis of the system of tenure, with us the bulk 

 of the land is held by occupying tenants renting their 

 farms from the owners of the land. At least this was true 

 up to the outbreak of the Great War ; but during the war, 

 and since, there has been a rapid breaking up of the great 

 estates and a consequent increase in the number of 

 smaller owners. In many cases the farmers have bought 

 their own farms ; in others, unfortunately, the land has 

 been bought by speculators. 



The chief reason for this selling of large estates is that 

 owing to the increased taxation and the greatly enhanced 

 cost of buildings, repairs, and general maintenance the 

 landowner's income is so seriously reduced that he is 

 forced to sell. Even before the war the landowner received 

 at the outside only 2 per cent interest on capital invested 

 in land and buildings ; and now he can sell out and 

 reinvest at 5 per cent or 6 per cent. In all countries 

 the rate of interest received from capital invested in land 



30 



