"2. That the owners should receive some recognition of the facts that selling may involve sacrifice of sentiment, that they have already suffered heavily by the operation of the land acts, and that they should receive some inducement to sell. "3. That for the benefit of the whole community it is of the greatest importance that income derived from sale of property in Ireland should continue to be expended in Ireland. "And we further submit that, as a legitimate setoff against any demand upon the State, it must be borne in mind that, upon the settlement of the land question in Ireland, the cost of administration of the law and the cost of the Royal Irish Constabulary would be materially and permanently lessened. "We do not, at the present time, desire to offer further recommendations upon the subject of finance which must necessarily be regulated by the approval of the government to the principles of the proposals above formulated except that, in our opinion, the principles of reduction of the sinking fund in the event of loss to the State by an increase of the value of money should be extended by the inclusion of the principle of increase of the sinking fund in favour of the purchasers in the event of gain to the State by decrease in the value of money. "Inasmuch as one of the main conditions of success in reference to any land purchase scheme must be its prompt application and the avoidance of those complicated investigations and legal delays which have hitherto clogged all legislative proposals for settling the relations between Irish landlords and tenants, we deem it of urgent importance that no protracted period of time should ensue before a settlement based upon the above-mentioned principles is carried out; that the executive machinery should be effective, competent, and speedy, and that investigations conducted by it should not entail cost upon owner or occupier; and, as a further inducement to despatch, we suggest that any state aid, apart from loans which may be required for carrying out a scheme of land purchase as herein proposed, should be limited to transactions initiated within five years after the passing of the act. "We wish to place on record our belief that an unexampled opportunity is at the present moment afforded his Majesty's government of effecting a reconciliation of classes in Ireland upon terms which, as we believe, involve no permanent increase of Imperial expenditure in Ireland; and that there would be found on all sides an earnest desire to cooperate with the government in securing the success of a Land Purchase Bill, which, by effectively and rapidly carrying out the principles above indicated, would bring peace and prosperity to the country. "Signed at the Mansion House, Dublin, this third day of January, 1903. "DUNRAVEN (_Chairman_) JOHN REDMOND "MAYO WM. O'BRIEN "W. H. HUTCHESON POE T. W. RUSSELL "NUGENT T. EVERARD T. C. HARRINGTON"