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Updated: July 6, 2025
Her majesty pardoned this scholar, hero, and worthy, the crime he had never committed. Nancy Rouse took the penitent Wylie without the 2,000 pounds. But old Penfold, who knew the whole story, lent the money at three per cent; so the Wylies pay a ground-rent of 60 pounds a year for a property which, by Mrs. Wylie's industry and judgment, is worth at least 400 pounds.
The theory of ground-rent is a special English economic matter, and this of necessity because only in England does a mode of production exist by which rent is separated from profit and interest. In England there prevail the greater landlordism and the greater agriculture.
The seed of this crop when it succeeds will pay the husbandman for his labour, and return a better ground-rent than many other crops which are cultivated. The seed is one of our best articles for remittance and exportation abroad.
The terms of sale were to be advantageous to the purchaser. He must pay at least as much as a fifth of the price down, but one quarter of it might be left on perpetual ground-rent, and the remainder, slightly more than one-half, might be repaid in half-yearly instalments during any period less than fifty years.
It was here that the community stored up the grain, which they received as ground-rent from their vassals; for, with the prudence belonging to their order, all their conventional revenues were made payable in kind, and hence, as the present proprietor loved to tell, came the name of Monkbarns.
The case in which the lessee cultivates his own land, as the rule in Germany, for the profit of the ground landlord does not make any difference in this respect. If the landlord cultivates the land for his own profit and furnishes the capital he puts the profit on capital in his pocket as well as the ground-rent for it cannot be otherwise under existing conditions.
On the whole, though little short of thirty-five thousand pounds would ultimately be involved not to speak of a liability of nearly three thousand a year for sixty-four years for ground-rent Edward Henry was not entirely gloomy as to his prospects.
I bought one of these houses, subject to the ground-rent, and moved into it as soon as finished. Lieutenant T. H. Stevens, of the United States Navy, with his family, rented the other; we lived in this house throughout the year 1854, and up to April 17, 1855. During the winter of 1854-'55, I received frequent intimations in my letters from the St.
"Yes, call again to-morrow is always the cry," he said; but he was not going to be made a fool of, he told her. He was there, and there he would remain till he got the ground-rent. He had plenty of time to wait. But when he had finished all the food in his bag, the time hung heavy on his hands, and then he asked the old lady for the ground-rent again. She had better pay it now, he said.
But the rents of every class of houses for which the competition was diminished, would necessarily be more or less reduced. As no part of this reduction, however, could for any considerable time at least, affect the building-rent, the whole of it must, in the long-run, necessarily fall upon the ground-rent.
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