Public ledger. [volume] (Memphis, Tenn.) 1865-1893, 1881-06-09

Decline of Rents in England-A
Serious Prospect.
Pail Mall Gazette.l

Decline of Rents in England-A
Serious Prospect.
Pail Mall Gazette.l
Mr.. Surge, of Birmingham, has
made a careful investigation into the
reductions Of rent which have lately
taken place on the reletting oil farms
in all parts OF England, aud the result
is not only interesting but startling.
In Lincolnshire many farms in the fen
districts would be let rent free to any
tenant who would pay rates and taxes;
heath land has fallen Upper cent, marsh
land 30 to 40 per cent and clay land 40
to 80 per cent. In West Norfolk
farms on chalk soils have fallen about
Is per cent, many on light sandy soils
are inlet. Good fen land in Hunts
has fallen over 80 per cent, and is ever
then difficult to let; tenants cannot
be found for clay land at a fall of 70
Der cent, and the value Of freehold
land is estimated to have fallen more
than a third. In LeicesteTshire a good
800 acre farm, lately let at 34s an
acre, has now been let on lease at 30s,
the landlord having first laid out
$4,000 on Improvements. A $50 acre
farm (half grass) has fallen from Cos
per acre to 20s. In West Shropshire
many tenants have given notice to
leave; others remain at reductions Of
from 20 to 30 per cent. In Worces-
tershire allowances have been made OF
from rs to 30 per cent, and on one
large estate only one farm is occupied,
and the others will require an expen
diture equal to six years rent before
they can be brought into condition
again. In North Warwickshire a
farm let for many years at e4OO
has been relet at 1900, after a
considerable outlay by the | .ndlord on
new buildings. Another LIT $50 years
ago at los Cd, is in the market, the
tenant refusing to remain at 20s. In
Central and South Warwickshire there
have been reductions OF 20 to so per
cent, and great number of farms are
vacant. In one parish of 1000 acres
four-ffths are unoccupied. In Bed
fordshire new lettings are 25, 80 and
Is per cent below old rates. A farm
recently let at 36s an acre is now occu-
pied rent free. In HeItfordshire a
farm Of 400 acres is to let rent free on
condition hat the tenant keeps it in
cultivation; on an estate Of 5000 acres,
1900 have been relet at an average re
duction Of q per cent. On another
property 1000 acres are in the market.
The fall in Essex is 40 to so per cent
a farm let up in Michaelmas at e3l5
a year is now let at 9l00. In Oxford
shire four. ffths of an estate of 1900
acres are unoceupied, aud in another
part OF the county twenty one farms
are to let at nominal rents. The rem.
tal of a Worcestershire parish ex.
Sendingover 1000 acres has diminished
9lOO0 pounds a year. In north Willis
10000 acres are let on one estate. and
a great area Of land is going out of cul-
tivation. A farm in south Wits, re-
Gently let at e700 a year, has been let
at f45O a year. On one estate in west
Snssex hln1 acres 5Fa t5Hsathess, anu
on another in west Herts eigh. large
Jar ms out of ten are on the owners
hands. In tie south Of Scotland re-
auctions of from 20 to 80
per cent have usually been
made on new leases. 1t is of curse
becoming increasingly difficult to sell
land unless the situation is exception
ally good, and there is every reason to
expect that an enormous number Of
farms will be given up at Michaelmas
Good grazing and dairy farms are now
the only ones for which anything like
the rents can be obtained, and land
lords are willing and eager to let on
terms which they would have secuted
with indignation only a few years
since. The seriousness of the prospect
next winter cannot be exaggerated. for
il is certain that thousands of land.
lords will be thrown out of work
whose only resourc; will be the parish
At present in many localities the un.
satisfactory state OF things causes the
position Of farm servants to be mos,
wretched; and small shopkeepers in
country villages are unwilling to give
credit ever for a loaf of bread, never
feeling sure that at the end of the
week their customers may not be
thrown out of work. Landowners
with large nominal incomes, who have
to pay %jointure, interest on mortgages
and other charges, just as they had to
do in days OF prosperity, are in a sorry
plight; and some whose rentals
amount to tens Of thousands have
not at their disposal as MANY
hundreds as they are believed
to have thousands, and in a few cases
the reduction has made the real in
come Of say $4,000 out of $4,000 (the
difference between gross receipts and
net balance after deductiog~ outgoiues)
absolutely disappear. It is not
strange that one of the p%rincipal
house agents in London should have
enough season houses to let to fil a
large volume-when in other years at
this time a single page would have
suficed for those on his hands.
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