70 THE IRISH AGRARIAN PROBLEM. 



he was not disturbed in his occupation. From 

 time to time, however, there took place a revision 

 of rents corresponding to the state of the market, 

 but never utihsing it to the full, so that the 

 tenant never paid a pure competition rent (rack 

 rent). It was permitted to the tenant to sell 

 his interest in the holding, an interest made 

 up by the improvements on the farm, and also 

 no doubt by his ' goodwill.' In the case of 

 such a sale, the landlord had, within reason- 

 able limits, a right of veto. He had also a right 

 of pre-emption, and when he desired to exercise 

 it he paid his tenant a moderate price for his 

 improvements.^ 



This system unquestionably promoted the 

 economic life of Ulster. It led to a liberal ex- 

 penditure of labour and capital on the side of 

 the tenant, who was assured by it of the fruits 

 of his industry ; it did not, however, get rid of 

 the unreasonable competition for land, which 

 merely expressed itself in terms not of higher 

 rents but of higher prices for the tenant right. 

 Thus a great part of the capital at the disposal 

 of the tenant could not be applied as working 

 capital but had to be expended on the acquisi- 

 tion of the tenant right. Moreover the owner 

 found the Ulster Tenant Right hampering him 

 in the exercise of his proprietorial rights, inas- 

 much as it constituted a divided ownership ; and 

 cases were not uncommon in which progressively- 



^Richey, "The Irish Land Laws," pp. 104-5. 



