THE LEASEHOLD SYSTEM.
[To THE EDITOR OF THE "SPECTATOR."] SIR,-I venture to submit that the leasehold system (see Spectator, August 21st, p. 273) both for occupation and for building will last as long as people desire to take leases. In Yorkshire and the North of England generally builders do not take leases for building. Round London there is plenty of freehold land for sale for building, but builders as a rule prefer to take leases, as it saves them all outlay of capital in the purchase of the land, and enables them to reserve all their capital for the building. I am speaking from the experience of forty years' practice as a London solicitor, and I fail to see why persons should be prevented from making such agree- ments as they find suit them. Building leases are in vogue
in the United States from New York to San Francisco. At least I have seen notice-boards, "To let for building for ninety- nine years," in both those cities.—I am, Sir, &c.,
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