TO THE EDITOR OF THE SPECTATOR.
Stit—In the article in the last number of the Edinburgh Review headed "The Irish Crisis," it is stated, (page 240,) that "one half of the surface of Ireland is stated to be let offin perpetuity leases with derivative and sub-der;vative interests in an endless chain, so as to obtain profit rents at each stage"; and, after noticing as the master evil what the writer calls " the law of entail and the encumbrances which seldom fail to accumulate upon entailed estates," and adverting to the pro- cess by which estates come " under the care of the worst possible landlord, a re- ceiver under the Court of Chancery,"—and after stating that "the remedy for this state of things is simply the sale of the encumbered estate, or of a sufficient por- tion of it to enable the owner to discharge his encumbrances, and to place him in a position to do his duty towards the remainder,"—the following passage occurs:
Her Majesty's Government being deeply Impressed with the Importance of these views, introduced a bin lute Parliament, In the session of 1847, the object of which was to enable the owners of encumbered estates in Ireland to sell the whole or a portion of them after the circumstances of each estate had been investigated by a Master in Chan- cery, with a view to secure the due liquidation of every claim upon it. The sale was not to take place without the consent of the first encumbrancer, unless the Court of Chan- cery should consider the produce sufficient to pay the principal, and all arrears of in- terest ; or unless the owner or sonic. subsequent encumbrancer should undertake lowly to the first encumbrancer any deficiency which might exist, and give such security for the performance of his undertaking as the Court might direct. This bill passed the House of Lords, but was withdrawn lu the Commons, owing to theopposition of some of the Irish proprietors, and to objections entertained by the great insurance-companies, who are the principal lenders on Irish mortagca, to having their Investments disturbed. The failure of the bill was a national misfortune, which cannot be too soon remedied."
it is not perhaps necessary that the discussion in a popular journal of such matters as the Irish Encumbered Estates Bill should be marked by strict tech- nical accuracy; but it is to be feared that in this case the writer is so imperfectly instructed on the subject in hand, that his views will not enlighten the public, and his commendations will not benefit her Majesty's Government. I pass over the talk about the law of entail, as it is perfectly clear that neither the writer nor the authorities which he cites have any comprehension of what they write about4 and come to the bill, the failure of which, it seems, was "a national misfortune. The statement I have cited above of the substance of the bill is, I assume, a cor- rect statement of the bill is the shape which it ultimately took. The bill in the stage at which it met my eye was in several respects different. But if the sub- ject be calmly looked at and judged of on its own merits, it will be clear enough how little connexion there is between the bill which was rejected and the evils it is to remedy. The writer states that one-half of Ireland is let off in perpetuity leases, with an endless series of derivative and sub-derivative interests: this Is carried so far that there are in many cases eight or ten persons, each of whom is both a lessor and a lessee with respect to the same estate; now one only of these is the immediate landlord of the farmer who cultivates the soil. The encumbered landlord, to whom the bill of last session applies, is most probably not the land- lord who is in immediate contact with and receives the rent of the occupying tenant, but one of eight or nine landlords, each of whom receives a profit-rent,— that is, receives a rent something higher than the rent he pays. The landlord of whom the occupying tenant holds has probably no encumbrance but the heavy rent he himself pays. According to the last bill, the interest of each of the eight or nine landlords may be separately eold, wish sale involving the whole machinery of the Chancery proceedings, and all the expenses thereof; and when all is done, the state of things between the occupyins, tenant
and his immediate landlord will remain wholly unaltered. The only change effected after eight or nine separate salts, at different periods will be, that he the last-mentioned landlord will pay his rent to a different party. This being the state of things, is it not obvious that this vaunted measure is as to one half of Ireland a mere delusion ? and it will be observed that this half of Ireland is precisely that the state of which is put forward as creating the neces- sity for the measure. It would not be difficult to furnish further topics of con- solation for the loss of this hill; but I think I may stop here. It was, I believe, framed with much legal skill; but the objects which the bill aimed at accome plishing were objects wholly worthless—the objects which in such a measur- ought to have been aimed at were not, as appear,' to me, contemplated.
The objection of some Irish proprietors to the bill originated, it may be pre- sumed, in an instinctive dread of the Irish Court of Chancery, and the natural objection to having their estates sold otherwise than by their own wish. With respect to the objections of insurance-companies, they could hardly be of a very formidable character. These companies are generally the &nit enctimbmneers and would not, it is probable, be indisposed to receive back their money, provided the bill which has been withdrawn was likely to lead to that result. the bill in question was less needed in the case of estates so mortgaged than in the case of any other estates, for these companies have always powers of sale; and though they may be reluctant to resort to them adversely to their mortgagers, if the state requires them to call in their monies and to sell for that purpose, they will, it is to be presumed, make no objection to resort to a sale which it is probable they could conduct more cheaply and more expeditiously than the (...ourt of Chancery; and as far as appears, a sale by the company would confer at least as good a title on apurchaser as a sale by the Court under this bill.
The purpose of a bill relating to encumbered estates in Ireland ought to be, to facilitate and encourage the transfer of the entire property in the land to an owner rich enough to pay the price, and it is to be presumed rich enough to im- prove the land. The bill ought to be very potent in conferring a title on a pur- chaser freed from all anterior claims. This is the way in which an incalculable increase will be given to the value of the lands. The points on which the Court should he required to exercise its caution are, to see that the land is not sold at an under value, and to see that the price is paid to the proper parties. I must, however, express my concurrence in the opinion expressed by yourself, that all measures of this kind must be fruitless till the contest that now rages be- tween the assassin and the law be decided by the triumph of the latter. No
man will purchase land unless he can take ion when the subsisting tenan- cies legally expire, and either retain or let t.tubl:d to a tenant of his own selec- tion. If the law be not strong enough to protect him in the exercise of these his plain and simple rights, it is a farce to talk of Ireland as a civilized country, or one in which property protected by law exists.
I sin, Sir, your obedient servant, M. N.
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