Page:The Irish Emigrants Guide.djvu/24

 with all her interests, the numbers of able bodied poor that now crowd the workhouses or receive relief therefrom, would be diminished, and employment could be more readily obtained, as employers would be more numerous, and the curse of absenteeism would be removed. Persons in possession of the above-named amount of capital, and who from the fact of possessing it, we must suppose accustomed to the conveniences, luxuries and habits of old established intercourse with persons occupying an exalted station of life, would, perhaps, dispose of it in a more satisfactory and profitable manner in landed investments at home than they could in the United States.*


 * A really practicable and excellent idea has been carried out, in the establishment of the " Irish Freehold Land Investment Society." .We shall extract from its "prospectus" sufficient matter to explain its nature and objects : —

By that salutary statute, entitled the 6th and 7th Wm IV, c. 32, 1st section, it was enacted—

"That it should and might be lawful for any number of persons in Great Britain and Ireland, to form themselves into and establish Societies for the purpose of raising, by the monthly or other subscriptions of the several members of such Societies, shares, not exceeding the value of £150 for each share, such subscriptions not to exceed in the whole 20s per month for each share, a stock or fund for the purpose of enabling each member thereof to receive out of the funds of such Society the amount or value of his or her shares therein, to erect or purchase one or more Dwelling-house or Dwelling-houses, or other real or Leasehold Estate, to be secured by way of Mortgage to such Society, until the amount or value of his or her shares should be fully repaid to such Society, with the interest thereon, and all fines and other payments incurred in respect thereof." And by the 4th section, the provisions of the Friendly Society Acts of 10 George IV, cap. 56, and 4 and 5 Wm. IV, c. 40, are extended to this Act.

Amongst the many advantages derived under these statutes is a total exemption from Stamp duty on all the Mortgages executed to the Society. The building Societies established all through England under these Acts have been signally successful; and "The National Freehold Land Society" in London, established under the same statutes, in a short space of time, by such small shares as £30 each (sufficient, however, to attain an English 40s. Freehold), payable by monthly