The sun. [volume] (New York [N.Y.]) 1833-1916, 1902-12-23

Of assisting to bring about settlement
OF the Irish land question.
No settlement OF that question will be
final unless II conform substantially to
the lines which have been laid down by
Mr.. 7. W. RUSSELL. NJ. p. who, although
a. firmly opposed a. most Ulster Profess
tants to the Home Rule project. has
vigorously promoted the agrarian aims
Of the United Irish League. II would be
hard. indeed. to overrate the influence
which the stand taken by him upon this
question has exerted on the Balfour Gov
eminent. In his book Ireland and the
Empire Mr.. RUSSELL argued that the
British taxpayer would, practically, run
no risk at all from the responsibilities
imposed by a land purchase act which
should transfer all the arabic land in
Ireland from the present owners to peas
ant proprietors. Such an agrarian revo-
luton would not involve, he said, the
actual waste Of a vast sum of money. as
did the South African War, by which
much more than a billion dollars was
actually thrown away.
The wholesale purchase OF the arabic
and grazing land in Ireland would in
volve no expenditure in cash; 1t would
mean simply the issue Of some Ave hum
dred million dollars in guaranteed land
stock similar to that which the Sails
bury Government authorized by the act
of 1891.
Undoubtedly the amount required
would be added TO the national debt !;
but it would not be added to the per-
manent debt, nor would it be repaid by
the nation at large. On the contrary, the
repayments would be made by the tenant
purchasers OF the land. The whole issue
would be repaid in forty-nine years, or
such term as might be fixed, and the
interest upon the amount represented
by the stock would be paid, not by the
British nation, but by the Irish purchas-
ers. Such an issue ofstook, Mr.. RUSSELL
contends, would not be expenditure at
ALL it would simply be transaction
by which great national and social OBJ
jects would be secured, which the British
nation would carry out by means OF its
unique credit
But. it may be asked, what security for
repayment would the British nation have?
Mr.. RUSSELL holds that the answer is
complete. He points out that while
the tenant purchases the landlords in
terest in his holding, the tenants interest
in the same holding under the Gladstone
Land act frequently exceeds in value the
interest OF the landlord, and, in the open
market. frequently fetches more. The
State, therefore, which lends it's credit,
will have as security for the advance the
combined interests Of the landlord and
tenant in the holding. But what safe
guard is there against reputation? How
Is payment to be enforced? How ia the
State TO meet strike against payment?
Mr.. RUSSELL would have the British tax
payer take courage, and call to mind
that no rent strike has ever been sue
cessful in Ireland. Even against Lord
CLANRIcARDB the strike policy abso-
lutely failed. The installments due I'M
der the various land purchase acts
have been regularly paid; there are no
arrears. As things are now, the State is
the mortgage upon 90 900 holdings. It
experiences not the slightest difYlculty
in obtaining the interest on the mort
cages. The risk of such an investment,
therefore, has been proved to be practi-
cally NIL Mr.. RUSSELL adds that, il
collateral security should be required.
there is no County Council in Ireland
that would refuse to pledge the county
rate for it's own farmers. With such
cumulative security, to wit. the security
of the combined interests OF landlord
and tenant in tho land, plus the county
rates-it will scarcely be alleged that the
land purchase scheme breaks down from
q business viewpoint.
Mr. RUSSELL clinohes his argument by
pointing out that this is one OF the cases
where business safeguards are fortified
by sentimental considerations. Nothing
could more strongly assure the safety
OF the State, which In to lend its credit,
than the passionate ttachment of the
Irish peasant to the soil. He has chung
to it for centuries. he clings to il still.
Wherever in Ireland the operation Of
purchase has been carried through. il
has succeeded. ARTHUR YouNo's as
sertion that ownership turns land into
gold has repeatedly been proved true.