Mr. William Hazlett, a magistrate of Derry, one of its ablest and most respected citizens, stated that from 1818 to 1847 the expenses of management were 60 per cent. The royal commissioners set it down thus--Total expenditure, 219,898 l.; management, 133,912 l. The law expenses were, during the same period, 40,000 l. 'This item of itself,' says Mr. Hazlett, 'must be considered an intolerable grievance, for it was laid out for the oppression of the people who should have benefited by the funds so squandered in opposing the very parties who supplied the money, with which they were themselves harassed. If a tenant applies for a lease, and the society consents to grant one, it is so hampered with obstructive clauses that his solicitor objects to his signing it, and says that from its nature it could not be made a negotiable instrument on which to raise money. The tenant remonstrates, but the reply of the city is--"That is our form of lease; you must comply with it or want!" If you go to law with them, they may take you into Chancery, and fight you with your own money.' Mr. Hazlett gave a remarkable illustration of this, which shows the spirit in which this body thinks proper to fulfil its duties as steward of this property. The Devon Land Commission recommended that leases of lives renewable for ever should be converted into fee-farm grants, which would be a valuable boon to the tenant without any loss to the owner. A bill founded on the recommendation was introduced to parliament. Did the enlightened and liberal Irish Society hail with satisfaction this wise measure of reform? On the contrary, the governor went out of his way to oppose it. Having striven in vain, with all the vast influence of the corporation, to have the bill thrown out, he endeavoured to get the society exempted from its operation. When, in spite of his efforts, the bill became law, the governor utterly refused to act on it, and brought the matter before the Master of the Rolls and the House of Lords. From these renewable leases the society had an income of about 2,500 l. yearly. And what amount did they demand--these moderate and discreet gentleman, 'The Governor and Assistants, London, of the new Plantation of Ulster'--for their interest in the renewable leases? Not less than 100,000 l., or about 40 years' purchase. In the year 1765, when the city of Derry was fast hastening to decay under this London government, the society was induced by an increase of 37 per cent. on the rent, to grant those renewable leases. 'And but for the granting of those leases,' said Mr. Hazlett, 'we should have no standing-ground in this city, nor should we even have the right to meet in this hall as we do to-day.'