As for the tenant-right of the farmer, which it is equally indispensable to redeem if all is to be cleared and there are to be no more conflicts of interests, let us admit that it is worth, on the whole, three or four times the judicial rent. Very likely again this is excessive. But this matters little practically, as will be shown further on. We find thus, for the aggregate interest vested in the Irish soil and subject to indemnity, a common rate of sixteen times the judicial rent. The average of this judicial rent is ten shillings per acre. For fifteen millions of cultivated acres to be redeemed, this would therefore give a total sum of 120 millions sterling to be paid. Thanks to this indemnity of expropriation, the English nation would become absolutely free to dispose of these lands as she pleased. But where are those 120 million pounds to be found? and they must be found over and above the capital necessary for the working of these lands, since we admitted in principle that it would be necessary to find it in most cases. This is the way: As a first outlay, we have admitted that the British Exchequer would put down £40,000,000 sterling in the shape of Consols at par. That capital represents an interest of about one million sterling and a quarter, or an annual tax of about ninepence per head. This certainly would not be a high price to pay for such a precious advantage as the suppression of the Irish plague. There is no decade in which a great nation does not pay more for some unlucky and useless venture—the Afghanistan campaign, as a case in point. To these 40 millions sterling, sacrificed by the wealthiest of European nations to its internal peace, shall be added the resources proper to Ireland. These are no despicable ones. Ireland, taxed much lower than Great Britain, nevertheless contributes no less than eight millions sterling, in round numbers, to the general revenue of the United Kingdom. Of these £8,000,000 about £4,286,519 go to the keeping of the army of occupation and the administration of finances; in other words, to the services meant to remain “imperial” in the hypothesis of Home Rule. About £3,744,462 are paid for the services that would, in this hypothesis, come into the province of the Irish Parliament, viz., public works, law courts, tax-gathering, local administration, registrations, land-surveying, lunatic asylums, schools, prisons, and the like. It seems that a new and poor country, as we suppose Ireland to turn out, ought not to pay for such services as liberally as does wealthy England, and that a reduction of a third on these heads, or £1,250,000, is perfectly feasible. That is about the income for £40,000,000 in English Consols. Here, then, we have sufficient provision for a second milliard in the shape of _interest_.