CHAPTER III.

OF THE VARIATION IN THE AMOUNT OF THE RENTCHARGE; THE RATES AND CHARGES THEREON ; THE COMMENCEMENT OF THE CHARGE; EXTRAORDINARY CHARGE; AND RENT

LAMMAS LANDS AND COMMONS.

·

CHARGE

OF

SECTION I.

Of the Variation in the Amount of the Rent-Charge.

45. THE original statute required that immediately after its passing, and also in the month of January in every year, the Comptroller of corn returns should cause an advertisement to be inserted in the London Gazette, stating what had been, during seven years ending on the Thursday next before Christmas-day then next preceding, the average price of an imperial bushel of British wheat, barley, and oats, computed from the weekly averages of the corn returns.sec. 56.

46. And the Rent-Charge is to be deemed at the time of the confirmation of the apportionment of the value of such number of imperial bushels and decimal parts of an imperial bushel of wheat, barley, and oats, as the same would have purchased at the prices so ascertained by the advertisement to be published

immediately after the passing of the Act; in case one-third part of the Rent-Charge had been invested in the purchase of wheat, one-third part in barley, and the remaining third-part in oats, sec. 57. And by the 7 Wm. IV. & 1 Vic. c. 69. s. 7, these prices are declared to be seven shillings and one farthing for a bushel of wheat, three shillings and eleven pence halfpenny for a bushel of barley, and two shillings and nine pence for a bushel of oats.

47. After every first day of January the RentCharge shall vary so as always to consist of the price of the same number of bushels and decimal parts of a bushel of wheat, barley, and oats, respectively, according to the prices ascertained by the then next preceding advertisement; and any person entitled to any such varied Rent-Charge, shall have the same powers for enforcing payment thereof as of the original Rent-Charge.-sec. 67 of original Act.

48. By the 3 & 4 Vic. cap. 15. sec. 20, every halfyearly payment of the Rent-Charge shall be regulated by the averages published under the provisions of the first Act, in the month of January next preceding every such half-yearly day of payment.

49. Thus the Rent-Charge becoming due in April, July, or October, 1848, or January, 1849, is regulated by the advertisement in the London Gazette of January, 1848. The Rent-Charge due in January, 1848, was regulated by the return advertised in January, 1847.

50. The average prices of corn are made up according to the 5 & 6 Vic. c. 14.

51. To calculate the variation, some amount may

be taken, say 300%., and divided into three parts,

If wheat at 7s. 04d. cost 100%., what will it cost at 6s. 10 d.?

Answer

£ s. d.

97 12 61

... Answer 103 13 8

If Barley at 3s. 11d. cost 100%., what will it cost at 4s. 1d.?. If oats at 2s. 9d. cost 100l., what will they cost at 2s. 8 d.?

....

99 410

Total £300 11 02

To ascertain first the quantities in corn, and then what such quantities would cost at the prices of the averages, would be a circuitous and unnecessary mode of making the calculation.

But as for a Rent-Charge of 300%., the number of bushels and decimal parts of a bushel of wheat are 284-86646; of barley, 505-26315; and of oats, 727-27272, the averages may be ascertained by calculating by those numbers, or by any other known quantities, the differences in the prices of corn thus:

505-26315 times 12d. addition for the difference in the price of barley, for 1849 are.

pence

884.21050

Being 3s. 84d. per cent. addition for variation.

Having ascertained the amount of the variation for 100%. or other given sum, there will be little difficulty in applying the result to any other amount. 52. The seven years' averages from 1835, have been as follows::

Of Rates and Charges on the Rent-Charge.

53. The Rent-Charge is subject to all parliamentary, parochial, and county and other rates, charges, and assessments, in like manner as were the tithes commuted.-6 & 7 Wm. IV. c. 71. s. 69.

54. All rates and charges to which the Rent-Charge is liable may be assessed upon the occupier of the lands out of which the same shall issue; and in case the same be not sooner paid by the owner of the Rent-Charge, may be recovered from the occupier in like manner as any poor-rate assessed on him in respect of such lands; and any occupier holding under

a landlord, and paying the rate or charge, shall be entitled to deduct the amount from the rent next payable by him to his landlord, and be allowed the same in account with him; and any landlord or owner in possession who shall have paid such rate or charge, or from whose rent the same shall have been deducted, or who shall have allowed the same to a tenant, shall be entitled to deduct the amount from the Rent-Charge, or by all other lawful ways and means to recover the same from the owner of the Rent-Charge, his executors and administrators; but reserving to the owner the right of inspecting the assessment, and appealing against the rate.-sec. 70.

55. Or the rates and charges to which the RentCharge shall be liable may be assessed upon the owner of the Rent-Charge, and may be recovered from any of the occupiers of the lands out of which the same shall issue, in case the same be not sooner paid by the owner of the Rent-Charge, in like manner as any poor-rate assessed on such occupiers, upon giving to such occupiers twenty-one days' notice in writing, previous to any one of the halfyearly days of payment of the Rent-Charge; and the collector's receipt for such rates and charges shall be received in satisfaction of so much of the Rent-Charge by the owner thereof; but no occupier shall be liable to pay at any one time, in respect of such rates and charges, any greater sum than the Rent-Charge payable in respect of the lands occupied by him in the same parish shall amount to for the current half year in which such notice shall have been given.-7 Wm. IV. & 1 Vic. c. 69. s. 8.