vironment—the soil becoming more fertile by every blade of grass it yields, the farmer richer by every penny of rate-rent he contributes?
We are now in a position to see that the rate-rent which will be readily paid by farmer, small occupier, and allotment holder, would be considerably greater than the rent he paid before (1) because of the presence of a new town population demanding new and more profitable farm products, in respect of which railway charges can be largely saved; (2) by the due return to the soil of its natural elements; (3) by the just, equitable, and natural conditions on which the land is held; and (4) by reason of the fact that the rent now paid is rate and rent, while the rent formerly paid left the rates to be paid by the tenant.
But certain as it is that the "rate-rent" would represent a very considerable increase over the bare rent formerly paid by the tenants on the estate, it is still very much a matter of conjecture what the "rate-rent" would be; and we shall, therefore, be acting prudently if we greatly under-estimate the "rate-rent" which would probably be offered. If, then, in view of all the circumstances, we estimate that the farming population of Garden City will be prepared to pay for rates and rent 50 per cent. more than they before paid for rent alone, we shall reach the following result:—
| Estimated Gross Revenue from Agricultural Estate. | |
| Original rent paid by tenants of 5,000 acres, say | £6,500 |
| Add 50 per cent. for contributions to rates and sinking fund, |
3,250 |
| Total "rate-rent" from agricultural estate, | £9,750 |
