922 Tenant Farmers and Sales of Estates, [feb., 



informed that agricultural land to the value of one and a half 

 million pounds was disposed of during 1910, whilst in 191 1 

 the value of the agricultural land sold exceeded two million 

 pounds. Moreover, there seems every indication that the ten- 

 dency to break up the large agricultural estates is likely to 

 continue. 



Causes of Increased Sales. — Among the causes to which 

 this sale of estates was ascribed by the Committee are : (1) The 

 feeling of apprehension among landowners (whether well 

 founded or not) as to the probable tendency of legislation and 

 taxation in regard to land. (2) The fact that in certain parts 

 of the country land is at present let at rents below its present 

 economic value. With a certain amount of increased agricul- 

 tural prosperity, and the consequent demand for agricultural 

 land for occupation purposes, landlords might be disposed to 

 increase rents, but many find it preferable to sell. (3) Many 

 agricultural estates are mortgaged more or less heavily, and 

 at present prices a sale will often enable the vendor to pay off 

 the mortgages and to retain an income in excess of what he 

 has been receiving as owner of the land, and in other cases 

 mortgagees are realising their securities. (4) The ownership 

 of land entails heavy responsibilities, and, heretofore, land- 

 owners have in many cases been content with a comparatively 

 small return on their capital, partly in consideration of the 

 social position and amenities conferred by such ownership. 

 Many owners, finding they are now in a position to sell to 

 advantage, are relieving themselves of these responsibilities, 



Position of Tenant Farmers on Occasion of Sale. — It is con- 

 ceivable that on the sale of an estate the tenant may be placed 

 in a very unsatisfactory position, and the evidence which the 

 Committee heard proves that there exists great anxiety among 

 tenant farmers, and that this fee ling of insecurity is militating 

 against agriculture. 



For example, assuming that a tenant has to leave, 

 he may lose a business connection such as a milk round, 

 or a market for cheese, for which he may have built up a 

 reputation. He has ascertained by experience the best method 

 of working the farm which he is quitting, for another farm, 

 the peculiarities of which he may take years to master. 

 In addition, he may have succeeded in getting together a 



