96 THE IRISH AGRARIAN PROBLEM. 



then the Land Commission had to sanction the 

 transaction after investigation of the security of 

 the holding for the sum proposed, and of the 

 owner's title. If the Land Commission was 

 satisfied on these points, the sum was advanced. 

 The interest payable was 3 per cent, with i per 

 cent, sinking fund, and the tenant became owner 

 after forty-nine years. The landlord got hard 

 cash, but one-fifth of the purchase money was 

 held back as a guarantee. 



Shortly afterwards the Conservative Ministry 

 went out of office. Gladstone, who had mean- 

 while become converted to Home Rule, came 

 back to power for a short period with the sup- 

 port of the Irish. With the Home Rule Bill 

 which he now proceeded to bring in a land pur- 

 chase bill was bound up, by which the landlord 

 was enabled to dispose of his land at twenty 

 years' purchase, and with this compensation to 

 quit the inhospitable soil of Ireland. The sum 

 which Gladstone held to be necessary for the 

 execution of his scheme of general land purchase 

 was first reckoned by him at ^113,000,000, an 

 estimate which he soon brought down to 

 ;f50, 000,000.^ However, the whole Home Rule 

 affair was a mere episode which came to an end 

 with the return of the Conservatives to power. 

 The ^5,000,000 which had been granted by the 

 Act of 1885 was soon used up. Another 

 ;f5,ooo,ooo was voted in 1888, after an Act 



' Shaw-Lefevre, "Agrarian Tenures," pp. 132-3. 



