For the benefit of the tenantry, I say; but by no means, always, for benefit of which they can be immediately conscious. The rents of any particular farmer will seldom be returned to him in work on his own fields, or investment in undertakings which promote his interest. The rents of a rich estate in one shire of England may be spent on a poor one in another, or in the purchase of wild ground, anywhere, on which years of labour must be sunk before it can yield return; or in minerals, or Greek vases, for the parish school. Therefore with the use made of the rents paid, the tenantry will have no practical concern whatever; they will only recognise gradually that the use has been wise, in finding the prices of all serviceable articles diminishing, and all the terms and circumstances of their, lives indicative of increased abundance. They will have no more right, or disposition, to ask their landlord what he is doing with the rents, than they have now to ask him how many race-horses he keeps—or how much he has lost on them. But the difference between landlords who live in Piccadilly, and spend their rents at Epsom and Ascot, and landlords who live on the grounds they are lords of, and spend their rents in bettering it, will not be long in manifesting itself to the simplest minded tenantry; nor, I believe, to the outside and antagonist world. Sundry questions lately asked me by intelligent correspondents as to the intended relations of the tenantry to the Society, may best be answered by saying simply what I shall do, if ever the collected wealth of the Company enables me to buy an estate for it as large as I could have bought for myself, if I had been a railroad contractor. Of course I could not touch the terms of the existing leases. The only immediate difference would be, the definitely serviceable application of all the rents, as above stated. But as the leases fell in, I should offer renewal of them to the farmers I liked, on the single condition of their complying with the great vital law of the St. George’s Company,—“no use of steam power, nor of any machines where arms will serve;” allowing such reduction of rent as should fully compensate them for any disadvantage or loss which they could prove they incurred under these conditions. I should give strict orders for the preservation of the existing timber; see that the streams were not wantonly polluted, and interfere in nothing else.