I pass on to the methods pursued by the Sub-Commissioners in actually fixing 'fair rents.' As I have said, they usually heard the cases at length in Court; they usually devoted attention to them. I do not think they set much store on the reports of valuers, on the part either of landlords or tenants; they formed their decisions, as a general rule, on the inspections made by the lay Commissioners of the lands they visited. This was a much better method, as I shall point out afterwards, than that adopted by their superiors; but obviously inspections of this kind made by officials without local knowledge of the farms, which they examined and valued, could not be a sufficient, or a satisfactory, way to fix 'fair rents.' The great error, however, made, in this matter, by the Sub-Commissions--and in this respect they had the countenance of the higher tribunal--was that they had little or no regard for the evidence which in adjusting rent was assuredly of the greatest importance. They rejected, we have seen, the principle of competition in adjudicating on rent; in fixing the 'fair rents' of holdings before them, they refused to consider the rents of the neighbourhood and of adjoining lands, that is, to consider the price of the market. Yet this was but a trifling compared to their capital mistake, one that, indeed, can hardly be explained: in investigating the subject of 'fair rent,' they would not take into account sums paid on the transfer of farms, that is, their tenant right, in other words, as an indication of what ought to be their 'fair rents.' If we bear in mind, as I have said before, that these sums were given subject to the existing rents, which always formed the first charge on the lands, it is most difficult to understand, as we have seen, how this circumstance did not create a very strong presumption that the rents in question must be 'fair' from the very nature of the case, assuming the Irish tenant to be a rational being. The sums paid for this tenant right were sometimes enormous, not uncommonly equal to one-third or one-half of the value of the fee; I illustrate my meaning from the evidence, taken with reference to the estate of Lord Downshire, one of the largest and best managed in Ulster: 'What would you say the tenants' interest would be worth on the Downshire estate?--Well, judging from the average prices obtained by tenants on transfers, my opinion is that the tenants' interest would be worth L1,000,000. 'On the Downshire estate alone?--Yes.