t 403 ] 



nothing without improvement, furely pays 

 a virtual intereft, at leaft half as important 

 as the real one ; for the landlord gains the 

 common intereft for his money, and his 

 eftate is at the fame time improved ; an 

 obje6l of vafl importance to his family, 

 and perhaps even to himfelf. There is 

 much lefs hazard in fuch a mode of lend- 

 ing money upon perfonal fecurity than in 

 any other j for the cafh as fad as received, 

 is expended upon the lender's land, and 

 confequently he is almoft imn-icdiately put 

 in pofTeiTion of what m.ay be called land- 

 fecurity j and if the undertaking fails, he 

 has all the expenditure of the money in hi» 

 own hands to pay himfelf ^ a cafe widely 

 different from all other modes of lend- 

 ing on mere bond. In proceeding on fuch 

 a plan, the caution only fliould be taken o£ 

 advancing the money borrowed by degrees 



■ never to refufe the improver any fums 



(within the fpecified total) provided the cafh. 

 already advanced is expended on the land: 

 this precaution is only to be fecure that the 

 money is applied to the ufes agreed to. In 

 fuch a plan, a landlord who has, or can 

 get money, and poflefles wafte land, fliould 

 feek out for f])irited improvers to lend 

 D d 2 them 



