VALUE OF LAND. 131 



increase of our population, independent of the heavy drain upon it 

 by emigration to other countries, and keeping in view the very great 

 trade and business also on the increase carried on in this countiy, 

 and the general accumulation of wealth in consequence, it may be 

 safely stated that, with our small and limited extent of land, its value 

 must rise in a proportionable degree. Indeed it is my own opinion, after 

 a careful consideration as to the bearing which the limited extent of 

 the country has upon the value of its land, that ere long estates will be 

 worth more than double the money they can now be purchased at. 



I am aware that there is a large class of society, among which are 

 many farmers, who hold the opinion that whatever prices wealthy people 

 may choose to give for land, a much higher rent than is now paid for it 

 cannot be given by those who cultivate it. This is a mistaken opinion, 

 however, and refuted by our everyday experience ; for we see almost 

 every farm which falls to be let anew brings its proprietor a much higher 

 rent than it did before ; and this must, in the common course of things, 

 continue to go on from time to time as farms fall to be relet. When a 

 farm comes into the market to be relet, if it is at all a good one, there are 

 many applications for it, while of course only one party can get it ; and 

 from this circumstance much higher rents are often obtained for farms 

 than their proprietors, in their most sanguine views, expected to realise. 

 This indicates, then, that there is a steady and increasing demand for 

 farms, even at higher rents, and that, generally speaking, there is a 

 wealthier class of men looking out for them than occupied them for- 

 merly ; for in most cases we find the new tenants of farms more skilful 

 and wealthy than those who left them, and therefore better able to cul- 

 tivate them profitably than the old tenants were, and consequently are 

 better enabled to give the advanced rents than the old tenants were to 

 give the former rents. If, then, this is the prevailing state of things in 

 regard to the rents of farms in the mean time and every one at all 

 acquainted with the subject knows that it is it is but reasonable to 

 conclude that in the future also, as farms fall out of lease, a similar pro- 

 portionate increase of rent will be obtained. We have no reason to hold 

 any other view in regard to the future of farming, than that rents of 

 land must necessarily increase with the progress of our wealth and pop- 

 iilation. Were these to remain stationary, then, but not till then, it 

 would be reasonable to expect the value of land to remain stationary also. 

 But we have no reason to suppose that such a state of things is likely 

 to obtain with us, at least for many years to cqrne. In the face of this, 

 then, it may be asked, How are farmers to realise profits from their 

 business, if rents are to go on increasing without any limit as farms fall 

 out of lease ? The answer is clear. The resources of the land are not 



