Diagram of the population of England and Wales, shewing the numbers of those unoccupied and those engaged in various Occupations.

AN EASY SOLUTION OF THE IRISH LAND QUESTION.

"No doubt the abolition of dual ownership of land in Ireland, which was created by the legislation of Mr. Gladstone, is the only solution of the most difficult question of Irish land. But people may say what they please, I hold that the solution cannot be adopted without a large and liberal use of British credit. You may dress up the scheme as you like, you may propose any scheme ingenuity may suggest, but if the scheme is to be effective and is to be just, the Exchequer must be at the back of the bond."

LORD RANDOLPH CHURCHILL at Whitby. Times Report, Sept. 24, 1887.

It is almost universally admitted that some great scheme of land purchase would be the best and surest solution of the Irish problem which now so absorbs the attention of our statesmen, and, although I seldom disagree with the robust expressions of the noble lord whose opinion upon this question I have placed at the head of this article, I think I can show him and all those who take an interest in the subject, that it is not only possible to accomplish the object which we all have in view without risk to the British tax-payer, but that a simple and practical scheme may be easily formulated that would be just to the landlords and popular with the tenants of Ireland.

Before proceeding with it, let me observe that the scheme I am about to explain is not merely theoretical, but it is an enlargement of a bona fide business transaction which has been for twelve years in practical operation under my own supervision, and with complete success, as I will presently more fully explain.

To purchase the entire interest of the Irish landlords in the whole of the agricultural land of Ireland is so gigantic an operation, that it may well alarm those who would in any way become security or responsible for the capital to carry it out. Mr. Chamberlain estimates the present rental of Irish land at nine millions sterling per annum, which, at only twenty years purchase, amounts to the very respectable figure of one hundred and eighty millions sterling, a sum for which none but those having a deep personal interest in the transaction would for one moment desire to become in any way responsible.

Mr. Gladstone's original proposal, to advance the money upon the security of the English Government, was considered so full of risk to the English tax-payers that it was speedily condemned and is not likely to be revived.

Mr. Chamberlain's recent proposal to raise so large a sum upon some kind of local security, although less alarming to English feeling, will be found, upon close examination, to be scarcely less impracticable, and if the solution of the problem depended upon any such expedients, I should be inclined to endorse the language of the noble lord which I have taken as my text; but "the resources of civilization " are manifold, and I venture to submit a scheme that, whilst accomplishing the object of converting Irish tenants into the owners of their holdings, would impose no burden or new risk upon anybody, and which has the advantage of being simple and practicable. I think it must be universally conceded that if Irish landlords are to part with their land, somebody will have to pay for it; and if the present tenants are to become the owners, it is equally certain that, whatever the details of the scheme may be, or whoever may find the original capital the tenants and nobody else will finally have to pay for it, together with such interest as the terms of credit may warrant.

The two principals in any transaction of the kind we are contemplating are, (1) the landlords, who, as owners of the land, we may call the Capitalists, and (2) the tenants, who as occupiers use the capital and pay interest in the shape of rent. There is also an additional element in the calculation which somewhat complicates the question, known as tenant-right or dual ownership, which causes a bitter conflict between the parties; so that, in any scheme for re-establishing a sole ownership in the person of the tenant, the State is not only the most powerful but the most appropriate agent for arranging the terms of transfer.

A few moments' reflection will convince anyone that no new capital whatever is required in order to effect this transfer. We are not creating any new industry which would require new or increased capital, as, for example, the opening up of new territory, the development of mines, or any undertaking requiring capital to be sunk for a while in anticipation of future gain; so that it is quite immaterial to my proposition whether the value of Irish land be £100,000,000 or £1,000,000,000, as no additional capital of any kind is wanted. All that is required is simple machinery for the safe, secure, and equitable transfer from the landlord to the tenant.

My plan is, for the present owners to lend their tenants the value of their several holdings, and to become mortgagees for the amount at 3 per cent. interest, on condition that repayment of the principal be made by regular annual instalments, to be invested in