71 



Analysis op the Landlord's Rent, as above. 



The farm in question being considered a, type of the Wilton House 

 estate (though an inferior one), the following detailed estimate of the 

 landlord's rent is arrived at by applying to it the conditions affecting 

 the property as a whole. Interest upon outlay on following : — 

 Boundaries, fencing, roads, and water supply ... ... ... 1 2\ 



Farm homesteading ... ... ... ... ... ... 8 7| 



Labourers' cottages ... ... ... ... ... ... 27 



Amount of rent due to landlord as interest on expenditure in 



carrying out above ... ... ... ... ... 12 4f 



Balance remaining subject to the following contingencies, viz.: 

 Repairs and restorations, drainage, educational purposes, 

 and local subscriptions ... ... ... ... ... ^0 10| 



19 3 



The rent of the farm being determined at £30U per annum, but 

 nevertheless subject to an adjustment in conformity to the Earl of 

 Pembroke's principle of letting farms on his Wiltshire estates, which was 

 regulated by the market prices of produce as they arose prior to the 

 abrogation of the Com Laws, and settled npon the following conditions, 

 viz. : 



The fixed or pivot rent in the agreement being £100 gross, or £90 

 net per annum, or, otherwise, the value of 1,600 lbs. of meat, 114^ 

 bushels of barley, and 113^ bushels of wheat (subject, however, to an 

 allowance for manure), which quantities respectively are to be converted 

 into money on the average prices of three years, and continued yearly, so 

 as to be always the average of the preceding three years, the meat to 

 be determined by the average prices of beef, mutton, lamb, veal, and 

 pork, in Smithfield, or the returns of the principal market in London as 

 published in the Mark Lane Express, and the value per bushel of the 

 barley and wheat to be obtained from the returns which are made for 

 ascertaining the annual value of the tithe rent charges in England and 

 Wales, an allowance to be made annually for manures purchased, and not 



* The balance, 6s. 10|d. (which, out of a rent of 30s. 3d. per acre, equal to little 

 more than 1-oth), is the amount the landlord actually receives as net income from the 

 rental part of his estate. It ought to he rcmemhered that the duties and position 

 of the owner of land requires that he should set aside a part of his income for 

 district and county responsibilities, and that in many cases the amount of interest on 

 capital thus made dormant exceeds by thousands of pounds per annum the rental value 

 of his residence and grounds. 



