186 
Land Draimr/e and Improvement 
cannot extend it beyond twenty-five, and the Government Drain- 
ajje Acts fixed twenty-two years as the lowest term allowed. 
" I forward with this letter one of the Company's prospectuses, 
from which you will see the rates of commission which they 
charge under their different classes of operations, which is of 
course hiiiher where, in addition to finding the loan on comple- 
tion of the improvement, they have also to undertake the respon- 
sibility of executing the works, and paying for them during their 
progress. 
"For instance, in Class 1, i.e. where landowners execute 
their own works, the commission is 5^ per cent, on the amount 
of the loan ; in Class 3, Avhei'e the Company do everything, it 
is in case of drainage 7s. Gf/. per acre, with 4s. per acre for the 
surveyor's charges, inclusive of his travelling expenses ; and for 
all other improvement 7i per cent, on the outlay, with 5 percent, 
and travelling expenses for the surveyor, 
" From a first glance at the difference between 5^ per cent, 
and 12\ per cent., it might be inferred that it must always be 
most economical for the landowner to execute his improvements 
by his own agent ; but a little investigation will show that 
this is by no means always the case ; even without examining 
how far a land-agent can find time for the effective supervision 
of large and special works, in addition to the ordinary duties 
inseparably connected with the active management of landed 
property. 
"The figures would at first seem to stand thus, viz. : — 
Class 1. Class 3. 
Outlay £1000 Outlay _ .. .. £1000 
Company's Commission .. 55 Company's Commission .. 75 
Surveyor 50 
Total £1055 Total £1125 
" But to the first total must be added the cost of preparation of 
plan to meet the requirements of the Inclosure Commissioners, 
and of superintendence of the works, as well as the provision 
of the money laid out during their execution ; and a fair estimate 
of these expenses will prove them to make up a total which so 
nearly equals, if in truth it does not exceed, the commission 
charged by the Company, that any difference ought to be more 
than compensated by the advantages derived from the employ- 
ment of experienced and scientific engineers, who have especially 
given their attention to agricultural improvements, as well as of 
the skilled foremen who are regularly in their service. 
" It is evident that this must be peculiarly the case in 
respect of drainage ; where comprehensive and satisfactory 
