Note 16 — Chapter V · THE NATIONAL ACCUMULATIONS

There is also, of course, the value of the trained personnel of both army and navy, which could not be taken at less than £250 per soldier and £400 per sailor, but I confine this estimate to the value of "property" commonly so called.

[17] There are no commons in Ireland and Scotland.

[18] In 1885 Sir Robert Giffen estimated Government and local property at £500,000,000, but I do not know his reasons for naming that figure.

[19] Lord Eversley seems to think that 25 years' purchase meets the conditions of 1905. See discussion in the Royal Statistical Society's Journal for March 1905.

[20] "Estimates of Agricultural Losses." Paper read to the Royal Statistical Society in March 1905.