I pass on to the legislation of late years, with respect to the Irish land, on the side of ownership. I have briefly described what that legislation is: a Conservative Ministry, impressed with the wrong idea that Mr. Gladstone had 'created dual ownership,' by the ill-conceived measure of 1881, resolved to abolish this evil thing if they could, though it is the natural mould of Irish land tenure; and Parliament has allotted L40,000,000 to attain this object, through the operation of what is falsely called 'land purchase.' The mode of proceeding has been explained: an Irish landlord, who desires to sell his estate to his tenants, can obtain an advance for this purpose from the State, through the agency of the Land Commission; the tenants are then made owners of their farms, without contributing any moneys of their own, and hold at terminable annuities much lower than even 'fair rents.' The transaction, therefore, we have seen, is, in no sense, a purchase; it is a gift, in the nature of a bribe; it is completely different from the policy of John Bright and the sales of land made to tenants before 1885, in which these men paid part of the price at least, the only real security for thrift and honesty. Of the L40,000,000, nearly half, I have said, has been spent; and out of the 486,000 agricultural Irish tenants, some 50,000 have acquired their holdings, in fee, under these conditions. The law thus applies to a mere fraction of the class; it is idle to assert that this can do much to extinguish 'dual ownership' in all Ireland; the sum required would be many times more than that which alone has been made available; and the process, at the present rate of 'purchases,' would not be accomplished within a century. We may, therefore, pass away from this part of the subject; but let us see how 'land purchase,' effected in this way, bears on the position of the Irish landed gentry. The immense majority of this order of men still cling to their native country and their homes; they hate the idea of parting with the rights they retain in the land, trampled down and injured as they have been; this is especially the case with the best and most solvent landlords. But as the terminable annuities payable on 'land purchase' are not nearly so high as even very low rents, not to speak of the other conditions of this mode of tenure, it follows that tenants who have thus been made owners are infinitely better off than tenants still subject to rent; one class has great advantages, of which the other is deprived; as a necessary consequence an artificial standard is set up against rent, which does wrong to the landlord, from the nature of the case; gives every tenant on his estate a grievance; and not improbably may expose him to a determined refusal to pay any rent whatever.