Note 12 — RICHARD COBDEN. ON THE EFFECTS OF PROTECTION ON THE AGRICULTURAL INTERESTS OF THE COUNTRY; HOUSE OF COMMONS, MARCH 13, 1845.

Note 12, p. 121.—It should not be forgotten by the reader that the lands of England are very generally owned in large estates, and that these are rented in portions to the farmers, who usually pay a fixed rent to the landlords in money. Sometimes the agreement is for a long term of years, taking the form of a lease, but more frequently, as Cobden shows, it is simply an agreement for a short term only, sometimes even for a single year.