CHEAP LAND.
On the price of land I have quoted from time to time many examples of the loss of value on the heavy clay soils of the Midlands and Essex, and on the chalk of Wiltshire and Berkshire. This week I hear of a similar collapse in West. Norfolk, from a district where the land is good. Years ago the farm sold at £50 an acre. A few years ago it was sold at £17 an acre. This year it fetched £5 an acre. That price does not compare in depression with the £5 an acre given for some Midland farms complete with excellent houses and outbuildings ; but it is several hundred per cent. too low in •intrinsic value and must be worth purchase for those who can wait. What we all want to know is, how long they would have to wait. Similar land no better in quality and worse in position fetches nearly £5 an acre annual rent across the North Sea, in a land where an intelligent peasantry believes in co-operation.
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