32 THREE PROPOSITIONS 



the tenants. As the insistence on this deposit 

 fails to overcome the great objection of the 

 farmer to employing a part of his working 

 capital to purchase his freehold, this plan does 

 not meet the difficulties of the case. Mr. Eve's 

 scheme, which is rather more concise than 

 Mr. Collings' Bill, overcomes this difficulty. 

 He recommends that where a landlord is 

 anxious to sell and a tenant is wilhng to buy, 

 given that the purchase price is at a proper 

 valuation, the State shall advance to the 

 tenant the whole of the purchase money. The 

 money would be lent at the lowest rate of 

 interest the State credit could afford at the 

 time, and would be repayable by a reducible 

 mortgage spread over a period of a varying 

 number of years. He gives a concrete example 

 as follows : 



EXAMPLE ON BASIS OF TWENTY-FIVE YEARS' 



PURCHASE. 



Annuity System. 



A farm. Acreage, 100 acres. Present rent, <£100. 

 Annual value or market rent to-day, £120. Tithe, £10. 

 Land tax, £2. Repairs, estimated to cost jDcr annum, £8. 



