THE landlord's SHARE 9 1 



returns has been at the rate of a h'ttle over 20s an acre, 

 while the share left to the tenant has been only 5-25d 

 an acre. 



It must, of course, be borne in mind that twenty-one 

 of these accounts are for one year only, and most of 

 these for the very bad year of 1893. 



It may also be urged, with some force, that in a con- 

 siderable majority of the accounts a certain portion of 

 the farm produce is consumed in the farmhouse, and has 

 not been entered among the receipts. 



On the other hand, in all but four accounts no charge 

 whatever is made for interest on capital, or for manage- 

 ment, and the amount which should have been estimated 

 for these two heads would certainly be much greater 

 than the value of produce consumed in the house. 



The " Estates Accounts " ^ confirm this reasoning. On 

 thirty great estates or groups of estates in England, the 

 total cultivated area is shown to amount to 440,490 

 acres ; the total amount of rents actually received in the 

 year 1892 (the last of the series given) was £S3iSA3^> ^^^ 

 the net income of the owners, after paying outgoings of 

 all kinds, including outlay on new buildings, drainage, 

 and various allowances, is ;^243,724 is 8d. 



The outgoings, as is pointed out in the chapter on 

 landlords' improvements, are, if anything, too compre- 

 hensive, but, taking them as they stand, they take up/ 

 over 54 per cent, of the gross income. This leaves rathe 

 over 45 per cent as the net rent received by the landlord. 

 -'ft-'wiTl be noted that these estates include two or three 

 well-known estates belonging to the Duke of Westmin- 

 ster and the Duke of Bedford, w/iere the outlay on repairs, 

 new buildings, and other items, has considerably exceeded 

 the gross rent. So that the remaining owners are clearly 

 receiving' a higher net income than 45 per cent, of the 

 gross rents. 



In view of figures of this nature, if these accounts can 

 be taken as representative, it:' is impossible to admit that 

 there has been any sweeping reduction of rent in this 

 country, in any degree commensurate with the heavy fall 



1 Parliamentary Paper (C— 8125), 1896. 



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