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Making matters worse, the Encumbered Estates Act of 1849 allowed estates in severe debt to be auctioned off upon petition of creditors or even at the request of bankrupt landlords. Land values tumbled as hundreds of estates with huge debts were auctioned off at bargain prices to The ruined village of Tullin in County Clare. British speculators (jews) interested solely in making a future profit. These new owners took a harsh view toward the penniless Irish tenant farmers still living on the land.