IN SCOTLAND.

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provcment of the land, and for giving the farmer a chance of afair average proportion of its produce. In regard to barren landin particular, no prudent man would attempt to manure andcultivate a rugged farm, at a great expence, without the se-curity of a lease ; nor will any farmer give nearly so high arent for a good arable farm, if he is to remain a tenant atwill, as if he enjoyed a lease of a reasonable duration. Inevery case, therefore, in which a proprietor of land has nota particular turn for agriculture, or does not possess an activemind, and a large moveable capital, instead of occupying hisland himself, he lets it to a farmer; and he must give a lease,if he expects that any man, who possesses skill, industry, andcapital, will pay him an adequate rent.

As this subject is of such peculiar consequence to the agri-cultural interests of Scotland , it is necessary to consider it atsome length.

A lease is properly a contract, founded on the principlesof equity, between two men, for their mutual advantage. Theone possesses an absolute right in the property of a certaintract of land, and its produce. The other purchases thetemporary right in the produce, and usufruct, at a certainstipulated price, which forms the just compensation to thelandlord for the privileges conveyed to the tenant. Unlessthe return be adequate to the grant, or the value of the onebe commensurate to the value of the other, the transaction isnot founded in equity, and therefore cannot long subsist.

The proprietor of an estate may thus be considered as inthe possession of a certain capital in land, which is capableof producing a certain annual value, when duly cidtivatcd.The cultivator of the soil, on the other hand, possesses a ca-pital, consisting of the necessary funds for stocking a farm,his knowledge in the art of agriculture, and his industry:Thus situated, the parties, like other men who wish to en-ter into a joint concern, are induced, by the prospect of mu-tual advantage, to agree to unite their capitals, for the pur-pose of manufacturing human subsistence; and their respec-