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did not mean what Mr. ROBERTSON said they did; and they were sometimes very explicit. Thus, they said:-Contingent on PEEL's policy, a surplus of exports caused by making investments abroad, and a surplus of imports through payment of interest on the same, cause the appearance of a drain of gold away from us.
AS MILL says in his strictures on the Bank Charter Act, 1844, and on the currency theorists' policy generally :— "These theoretical principles and these practical arrange"ments are only applicable to a drain of gold consequent on a rise of prices produced by an undue extension of credit, and to no other case." Even in this case the action is needlessly severe.
A Bank of England note abroad is only a bill on England; naturally, bills on England are at a premium in tributary markets (contingent on PEEL'S policy, at very high premiums, if the tributary's standard differs from ours); therefore gold is at a premium. But for the provisions of the Bank Charter Act, and if the notes were legal tender from the bank of issue itself against a bullion reserve, the action of the tribute payments would have no effect on the price of gold and, therefore, of commodities.
THOMAS W. HUSKINSON, Fellow.
On Mr. Harold Griffin's Paper, "Weekly Property as an Investment.”
("Transactions," Vol. XXVI., pp. 331-359.)
With reference to Mr. HAROLD GRIFFIN'S Paper on
Weekly Properties as an Investment," we should like to draw attention to a class of weekly property which we think forms a very good investment.
We have put up for a client a number of double-tenancy cottages, with separate entrances, having a garden divided at the back, and forming, in fact, two flats with no communication whatever between them.
The advantages gained by this class of cottages are :— No quarrels can take place between the occupants of the two floors. Rents are paid with greater regularity. The tenements are readily lettable and payment of house duty is saved, as each house is treated as two tenements for Queen's taxes.
The cost of each house and land is, together, £355.
The Gross Rent obtained is 6s. 6d. from Lower Floor.
Deduct Poor Rate, 4s. in the £, on £19 £3 16 0
£35 2 0
3 10 0
£24 17 3
Or, 7 per cent. on the Outlay. Nett Rental
During our experience, extending over a period of ten years, we have rarely had a single tenement vacant a week.
A. TAPP and T. JONES, Fellows.
METROPOLITAN MANAGEMENT ACT, 1862.
(For Replies to this Query, see pp. 476, 477.)
Section 61 provides that any person may with the consent of the board or vestry make or branch any drain into the public sewer, "such drain being of such size, materials, and other conditions, and branched "into such sewer in such manner and form of communication in all respects, as the board or vestry shall direct or appoint."
Does this apply to such part only of a house drain as may be considered to form the connection with the public sewer, or does it give the vestry power to regulate the whole arrangement of drainage, and make regulations as to the formation of inspection and turning 'chambers; the form of traps and gullies to be used; sizes of pipes and materials of which they must be made; bedding drain in concrete; ventilation of drains; &c., &c. ?
The particular case in question is where the surveyor to one of the London vestries compels the use of a 9-inch stoneware drain, laid in the form of a huge syphon trap, and bedded in concrete, for the combined drainage of two houses with three w.c.'s each, instead of an ordinary 6-inch stoneware drain (quite ample for two houses with three w.c.'s) with properly arranged disconnection chamber. It seems that the function of such an arrangement of a 9-inch pipe would bear greater resemblance to a cesspool than a drain, which results may demonstrate.
TENANT FOR LIFE-DILAPIDATIONS.
(For a Reply to this Query, see p. 477.)
To what extent can a reversioner require a tenant for life to reinstate property (particularly as regards painting) left under a will containing the following clause :-"subject, nevertheless, to the payment
"thereof from time to time of all such sums as may be necessary for "keeping the several estates and premises in repair"?
Would old and badly-cracked York stone paving be required to be reinstated with new, or would jointing the old with Portland cement be considered sufficient?
(For Replies to this Query, see p. 478.)
A covenants with B to sell a close of land at £300 per acre, the measurement of the said close to be afterwards determined.
(1) The southerly side of the land is bounded by higher ground 10 feet above A's land, with a thorn hedge at the top of the bank. The higher and lower ground are occupied by the same tenant, though owned by two distinct landlords, and no information can be had as to ownership of fence.
The lower land (A's) appears to be alluvion from the adjoining river, or at some time has been the course of the river.
There is a public footpath running on the top side of the fence, and, owing to the danger of falling down the bank, it would be necessary to have a fence there, even though there was one at the bottom of the bank. Can A claim beyond the foot of the bank?
(2) On the northerly side the river has washed away the bank all along the frontage, and in several places to the depth of 20 feet. A has at different times had stakes driven in the river, which he claims as the extent of his boundary.
Can A claim beyond the natural water mark of the river, which is not tidal?
The normal level of the river is about 6 feet below the field.
DISEASE IN BEECH TREES.
(For a Reply to this Query, see p. 478.)
I shall be much obliged for any information concerning the disease affecting beech trees, which resembles blight or mildew, and appears on the bark of the stem and limbs, and which in advanced stages causes the bark to separate from the wood. It is, I believe, due to some insect. I especially wish to know if it often proves fatal, and whether there is any cure or means of prevention. The trees in question are in North Wales, and the soil is a loam, and the subsoil mostly gravel. I have noticed the disease in several parts of the country.
AGRICULTURAL HOLDINGS ACT-REFEREE-WASTE-LAND TAX
(For Replies to this Query, see pp. 478, 479.)
1. Is it necessary that a referee under the Agricultural Holdings Act, 1883, be a licensed valuer, or, can an ordinary land agent who is not a licensed valuer act as a referee?
2. In counterclaiming under the above Act where no claim is made for manures, what can be claimed under the term "waste"?
3. Is there any record kept of the land that has been redeemed of land tax, and, if so, how is it to be obtained?
(For Replies to this Query, see p. 480.)
What should be the inclination of the ridges in ridge and furrow irrigation on grass land?
I propose to have the ridges 30 feet wide, but I cannot find it stated anywhere what the difference in level between the crown and furrow should be. I do not want the liquid to run off too quickly, as it is sewage, and my chief object is to purify it; but, at the same time, I do not want it to stagnate, and rot the grass.
I should also be glad of advice as to what length the ridges should be, and what fall they ought to have in the direction of their length.
AGRICULTURAL HOLDINGS ACTS, 1875 AND 1883.
(For Replies to this Query, see pp. 481, 482.)
The lease of an English farm, dated 1888, for seven years, contains the following clause :-" That all allowances for unexhausted improve"ments shall be regulated and valued according to the modes 'specified in the Agricultural Holdings Act, 1875."
Does this in any way affect the tenant's right to claim under the Agricultural Holdings (England) Act, 1883, and, if so, in what way?
ARCHITECT'S LIABILITY FOR QUANTITIES.
(For Replies to this Query, see pp. 483, 484.)
A contractor's estimate is accepted for the erection of some new buildings, his figures being based on quantities taken out by the