32 MANAGEMENT OF ESTATES. 4; 



On the contrary, one who wants to fell 

 •fhould wait, if he can, until a dear time 

 offer itfelf ; or othcrwile accept, perhaps to 

 a difadvantage, the fofiionahU price of the 

 day. 



Thcfe inferences, however, are more 

 ftridly applicable to fmall than to large 

 purchafes. 



The prefcnt medial price of land in this 

 Diftrid is about thirty years purchafe upon 

 a fair rental value ; but varies much with 

 the circumftances it happens to be under. 



III. Tenancy. Upon moft of the iargeir 

 eftates krjes arc unknown ; the farms have 

 been let at will, and held as hereditary pof- 

 feffions through fucceffive generations. But 

 it has been already obferved, that the bafis 

 on which this fpecies of tenancy formerly 

 reftcd, has of late years been fapped, and 

 is no longer fufficiently fecure cither for 

 landlord or tenant. 



In the marfhes, in which the Archbifhop 

 of York has confiderable prop^ty, Icafes for 

 lives is the ordinary tenancy ; and there, it is 

 obfcrvable, rapid improvements in hufoandry 



have been made. 



IV. Term 



