62 Rents, Wages^ and Profits in Agriculture 



of custom, resisted the rise, the rapacity of 

 the landlords would at any rate be held 

 in check. 



On the general question of the security 

 of the tenant's capital at this time, the 

 opinion of Adam Smith seems much more 

 in accordance with the facts. He observes 

 ("Wealth of Nations," Book III., chap, ii.) 

 that "the farmers in England had much 

 better security than in any other country, 

 and that with long leases they were 

 encouraged to make improvements." In 

 England, as contrasted with other countries, 

 by an Act of 14, Henry VII., the tenant 

 under lease was protected against ejectment 

 by a new purchaser or successor. And in 

 this respect he says : " The security of the 

 tenant is equal to that of the proprietor." 

 He says also that in England a lease for 

 life of 405. a year value is a free- 

 hold, and entitles the lessee to vote for 



