instance, give him 6f), and in the latter case only the 

 same, 30 per cent. 



These rates are not, exrcpt in ih< 1 above item of 

 80 |>er cent., higher than have been known in Great 

 Britain, where even 60 percent, lias b:«en realized 

 under very favorable circumstances j although it 

 cannot fail to l>e remembered, that in the latter case 

 the capital embarked is much larger than that em- 

 ployed on rice cultivation, which is as yet a mere 

 trifle, and entails no loss to a tenant at the end of a 

 lease ; but here a medium of <u per cent, mi^ht lie 

 assumed so lonir as landlords could get one-half of the 

 crop and seasons proved favorable. 



A landlord here should not say that he ought to 

 have any fixed proportion of the produce as his rent; 

 for that" last will only be tlie part or share which he 

 can obtain under existimr circumstances, so mat, tak- 

 ing due care his tenant does not injure the land, he 

 cannot further help himself ag ainst any slackness in 

 competition, unless he farms the land himself, uith all 

 its attendant vexations. 



To realize the rents in kind above statrd, a land- 

 lord must consent to run all risks with a tenant, in- 

 cluding thuse of his death or failure to cultivate, and 

 be prepared to guard against fraud, which, unless lie 

 resides on the spot, may swallow tip a large purl of 

 the rent. 



The terms on which leases or grants for 20 years 

 are now given by Govtrument for waste rice-land, are 

 m moderate that very considerable scope is ail m I 

 f >r realizing profits, and the Chinese have even em- 

 barked on the cultivation; f>r, as before observe^ i'i; 

 ultimatum proposed as yjfc after a sufficient number 

 of years allowed for recover} of capital expended, \vi« 

 mt exceed one-half of the rent actually HOW receive:] 

 by independent lau;Uio!der* for th«? best soil. I n ." 



