British Agriculture. 
309 = 43 
paid the annual interest at 3^ per cent. In many cases the 
tenant undertook the whole of this annual payment in addition 
to his rent, and the landowner thus had his land permanently 
improved, and returned to him free of all charge, at the end 
of twenty-two years. Not unfrequently the landowner was 
satisfied with 5 per cent, from his tenant, and paid out of 
his own pocket for this permanent advantage. Especially was 
this the case in regard to buildings, the return from which is 
not so direct or immediate as from drainage or reclamation. 
The same principle is followed by the Land Improvement followed by 
Companies, whose loans, like those of the State, are secured by '"^"^ 
. 11 1 1 1 • r r Companies, 
priority over all other charges, but continue lor twenty-nve or 
thirty years, in inverse proportion to the rate annually paid. 
It has been proposed to extend the term still farther, in order to 
reduce the rate of annual repayment ; but this is a questionable 
advantage, for each generation has improvements of its own to 
carry out, and it is a good general rule that the cost of the past 
should be paid off before new charges are placed on the land. 
The total amount of money charged on the land of the United Total amount 
Kingdom for agricultural improvements under the system of ^° expended, 
periodical redemption, in the last thirty years, amounts to about 
fifteen millions sterling — twelve in Great Britain and three 
in Ireland. About eight millions of it was advanced by the 
State, and seven millions by private companies. A large pro- 
portion of the first has now been repaia, having been returned 
to the public exchequer, principal and interest, and is no 
longer a charge upon the land. Two-thirds of the whole have 
been spent on drainage, the remainder on farm-buildings, 
labourers' cottages, embanking, water-courses, farm roads, re- 
clamation, planting for shelter, and enclosing. The expenditure 
'through such loans goes on with great regularity at an average 
of half a million sterling a year, and the loans are being re- 
deemed and the charge extinguished at about the same rate. 
The extent of work still to be done far exceeds what has been 
accomplished, and so many new demands arise to meet the 
changes in husbandry that the system is likely to be a per- 
manent one. It may therefore be useful to consider its present 
mode of working, the objections which have been made to it, 
and whether any improvement can be introduced which might 
facilitate its operation. 
An inquiry into this subject was undertaken by the House Inquiry \>j 
of Lords in 1873. The Committee comprised men of acknovv- P:"liaraent 
[ledged eminence on both sides of politics, great landowners If'^^orki""'^* 
conversant with such subjects, and having more or less practical these loans, 
knowledge of agricultural affairs. Twenty-three witnesses were ^'^^ 
examined from various parts of the kingdom, all of whom had 
