"2. That the process of direct interference by the State in purchase and resale is in general tedious and unsatisfactory; and that, therefore, except in cases where at least half the occupiers or the owners so desire, and except in districts included in the operations of the congested districts board, the settlement should be made between owner and occupier, subject to the necessary investigation by the State as to title, rental, and security. "3. That it is desirable in the interests of Ireland that the present owners of land should not as a result of any settlement be expatriated, or, having received payment for their land, should find no object for remaining in Ireland, and that as the effect of a far-reaching settlement must necessarily be to cause the sale of tenancies throughout the whole of Ireland, inducements should, wherever practicable, be afforded to selling owners to continue to reside in that country. "4. That for the purpose of obtaining such a result, an equitable price ought to be paid to the owners, which should be based upon income. "Income, as it appears to us, is second term rents--including all rents fixed subsequent to the passing of the Act of 1896--or their fair equivalent. "5. That the purchase price should be based upon income as indicated above, and should be either the assurance by the State of such income, or the payment of a capital sum producing such income at three per cent or at three and one-fourth per cent, if guaranteed by the State, or if the existing powers of trustees be sufficiently enlarged. "Costs of collection where such exist, not exceeding ten per cent, are not included for the purpose of these paragraphs in the word 'income.' "6. That such income or capital sum should be obtainable by the owners:-- "(_a_) Without the requirement of capital outlay upon their part, such as would be involved by charges for proving title to sell. Six years' possession, as proposed in the bill brought forward in the session of 1902, appears to us a satisfactory method of dealing with the matter. "(_b_) Without the requirement of outlay to prove title to receive the purchase money. "(_c_) Without unreasonable delay. "(_d_) Without loss of income pending reinvestment. "(_e_) And without leaving a portion of the capital sum as a guarantee deposit. "7. That, as a necessary inducement to selling owners to continue to reside in Ireland, the provision of the bill introduced by the chief secretary for Ireland in the session of 1902 with regard to the purchase of mansion houses, demesne lands, and home farms by the State, and resale by it to the owners, ought to be extended. "8. We suggest that in certain cases it would be to the advantage of the State as insuring more adequate security, and also an advantage to owners in such cases, if upon the purchase by the State of the mansion house and demesne land and resale to the owner, the house and demesne land should not be considered a security to the mortgages.