32 THE BOOK OF THE LANDED ESTATE. 



There still remains, however, one material point to be taken into con- 

 sideration in the selection of a tenant. It is quite possible that a man 

 may possess, the highest abilities as a farmer, in a scientific as well as a 

 practical point of view, but if he is not possessed also of a sufficient 

 amount of capital to enable him to stock and work his farm in a proper 

 manner, his professional abilities will be of comparatively little avail. 

 It is quite true that professional knowledge and skill give him a vast 

 advantage over those who do not possess such qualifications, as he will 

 thereby be enabled to turn his capital to better account, but they will 

 not do away with the necessity for having the command of capital 

 sufficient to allow him to carry on his operations. 



Men without capital are extremely apt to become the highest bidders 

 for such farms as are thrown open to public competition ; and it has 

 frequently happened that agents, desirous of making a show by means of 

 an increased rental of the farms on estates under their management, 

 have selected the highest offerer as tenant, without first assuring them- 

 selves that he had sufficient capital as well as skill to render him a de- 

 sirable person to place in the occupancy of a farm. Conduct of this kind 

 very soon defeats itself; the shadow has been taken in preference to the 

 substance, and the promised increase of rent becomes a myth, from the 

 inability of the tenant to meet it and the other demands upon him. In 

 a short time he becomes bankrupt, leaving the farm, most likely, in 

 worse condition than he got it ; and the result is, that when let to another 

 tenant the rent is even below that which was received for it previous to 

 its occupancy by the promising but non-performing tenant. 



It is desirable, therefore, that in selecting a tenant due caution shall 

 be exercised to choose one possessed of sufficient capital, as well as pro- 

 fessional skill and knowledge. 



The question naturally arises, What is a sufficient amount of capital ? 

 This must partly depend upon the agreement entered into between the 

 landlord and the tenant. If, as is the case in some districts, the pro- 

 prietor leaves the tenant under the burden of effecting most of the per- 

 manent improvements required on the farm, with the understanding that 

 the tenant will be repaid the value of those improvements at the termina- 

 tion of his lease, or under some other arrangement designed to reimburse 

 the tenant at a future time, then he will require to have more capital at 

 command than would be necessary in the event of the landlord effecting 

 those improvements, charging interest on the outlay, and leaving the 

 tenant's capital for its legitimate use in stocking and carrying on the 

 working of his farm. 



It has been asserted, and with a great deal of truth, that, generally 

 speaking, want of sufficient capital is, and has been, one of the greatest 



