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The Pamphlet Collection of Sir Robert Stout: Volume 14

Sales in the Encumbered Estate Court—First 20 years, 1849-1869

Sales in the Encumbered Estate Court—First 20 years, 1849-1869.

Latterly these sales are almost entirely suspended. No purchasers!
1819-59 Sales £25,190,839
1859-02 Sales 5,940,990
1802-69 Sales 6,950,839
Total £40,082,668
Rental at 16 years' purchase 2,506,167

Of the seven years' sales—1862-69, £8,950,839—the net rental was £508,749, an average of 17½ (17.6) years' purchase. The earlier sales were at a less purchase. On an average of 16 years' purchase, the net rental of the estates sold in the 20 years would be 2½ millions = about one-sixth the rental of Ireland! The mortgagees received their money, but the result to the tenants was ruinous. Attorneys, petty money-lenders, tradesmen, hucksters bought with a view to profit, and they raised rents without stint: they recked not, for the Law gave facilities to the law of greed, and "they joined house to house, and field to field, and ground the faces of the poor."