252 



in this country, there being no artificial obstacles inter- 

 posed to the free transfer of properties, the extent to which 

 property is annually transferred by private sale, taken in 

 conjunction with the average term of mortgages, may, in some 

 measure, serve as an index to the extent of indebtedness of 

 the agricultural classes. In the year 1890-91, out of an extent 

 of ryot war holdings amounting to a little more than 21 million 

 acres, the extent returned as transferred by private sale was 

 a little over 366,000 acres or 1'7 per cent. The irrigated 

 land transferred was 87,000 acres out of 4'1 million acres or 

 2-1 per cent. ; and the unirrigated land 279,000 acres out of 

 17 million acres or 1*6 per cent. The assessment of lands 

 transferred under each class to the total assessment of lands 

 under occupation bore the following proportions ; irrigated 

 land, 2*2 per cent. ; unirrigated 17 ; both classes 2 per cent. 

 In his Manual of the Goimhatore District, Mr. Nicholson has 

 given interesting calculations as regards the extent of land 

 transferred, based on the registration statistics for the three 

 years ending 1882-83. Mr. Nicholson estimated the value of 

 land as follows : Irrigated lands, 90,000 acres at Rs. 255 per 

 acre, 2*25 crores; unirrigated lands, 1,800,000 acres at Ks. 12 

 per acre, 2*15 crores ; garden lands, 410,000 acres at Es. 46 per 

 acre, 1*9 crores ; total 6*3 crores. He observes, " The actual 



of the estimated value of the land, borrowed at a high rate of interest, as much, includ- 

 ing costs, as 7 per cent, calling for a yearly payment, mostly from the smallest owners, 

 of 34 millions sterling.' The same writer states that small plots of land, when pur- 

 chased, ' do not pay 2^ per cent, to let, and they can be sold when conveniently placed 

 for division at a price which bears no proportion to the letting value.' Again, referring 

 to the rights of heirs to their share of each kind of property, he remarks ' the conse- 

 quence of this is a continual division and sub-division of plots of land, imtil at last no 

 cultivation is possible, except with a spade, and in some cases that must not be a full 

 sized one ; and a tree cannot be planted in an estate, because it is illegal to plant one 

 within two yards of youi- neighbour's boundary, and your neighbour on each side is 

 within that distance.' These quotations from Mr. Richardson bring into relief the three 

 vices of the French land system as it affects the peasant proprietor ; these are (1) an 

 excessive sub-division of the land which used to be called in France ' morcellement ' 

 until the progress of facts rendered the word too feeble to express the reality, and so of 

 late years, it has been replaced by the term ' pulverisation ' ; (2) the ' demon of property * 

 which is the cui-se of the French peasant, which causes him to beg, borrow, and almost 

 to steal, to starve himself and his family, and in fact to do anything in order to obtain 

 possession of a piece of land ; and (3) the recklessness with which the peasants borrow 

 money at even ruinous rates of interest to complete their purchases." 



The following facts as regards agricultm-al indebtedness in European countries have 

 been taken from Mr. Mulhall's Dictionary of Statistics .- 



United Kingdom. — Lord Eeay estimates the mortgages at 58 per cent, in England of 

 the value of real estate ; in Ireland, according to Commissioner Greene, they amount to 

 40 per cent., say 120 millions sterling. Germany. — In 1870, the mortgages in Prussia 

 reached 190, and in all Germany 273 millions sterling. Professor Meitzen, however, 

 considers that 41 per cent, of all real estate in the Empire is mortgaged. An official 

 return for 1883 shows that the houses of Berlin were mortgaged for 105 millions sterling, 

 being 67 per cent, of their assessed value. Russia. — Mortgages of land are known to 

 reach 148 millions sterling, but probably amount to much more. Belgium. — The regis- 

 tration of mortgages was as follows : — 1860, 3"4 millions ; 1870, 4-4 millipns ; and 1886, 

 8'2 millions sterling. S})ain. — Mortgages are estimated to amount to 172 millions 

 sterling ; annual average of new mortgagee, 85 millions. Egypt. — New mortgages 

 .^jiverage 13 millions per anunm. 



