, 1879-07-01
AGRICULTURAL DISTRESS II EK0AAsD.
| Landlords lsehsa Must cnm" ,Dnwn-1Iut
ci,r,p imported Faud In II nenelt IT, the

|
Snttun. -. $3.50,
Londan 35nss "anf ~
An Interesting economic nFohlanl II 5hlteA
by the present agricultural disttess ntn! tlc
an IF -,,,. I. htch /. ,akfr, nInce Tfc main
:. H.. ,or,n,-,,l.,Iv iarr t-fcca ri nrrj.
eaubc Is '"e e"''pa'u''ss., ~" .,,.'" -"
cultural prutlhcc na eosaea'cd VILE thoss cur
rent few years ago. coupled with oaa sea,
,h ,r,x. y,o,,t of lin. ,rr,. ff tl,r futtner
w. 49,, ,..,. .,.m t.. a.. .,,a,,o- |
could navy eo1 nettet lHlce 'oF "'e n'''p"e'
yield, as ho used to do when; seasons were
had, the result would not hare Gceu 80 tltsas-
,.,,,. 1,,t Ia ,hc con1iti,u ri: +hi,ra ,yh[r1, |
.'oae' .''s .,, so.,1. ,,, +,..,no,o,,1. nm.
t'esc .es'its 's''p'f .ca! NJ" "s.." 49,,
favorable to the country as Tuo'e' M" "os
merely for The tmc to the farming and
i,n,1nwuInr in,rrcstsl 1t nav well he
,,'". ,ha syi, ~ sIn"1c interest.
.,as 'an w. aa,,. ,or .,,' n,e*ont ~
which also seems IoF INC p'cetnt W
contribute 10 the general ufprcssion, may re-
suit from causes WHICH have tcr'1lanent eiIert
quite different from TIL: Temporary one! nna Wo
fclievc That tllts u really w. eaee. ne .n"
ers u,ul lnlul owners fur liz moment, nust ou
pronounced, On ts,e whnle, to"d tt'inE ior 'iie
country. So fur MS they are lIr result Ut uef-
,uu,eut causes jtKcly tO continue 10 operation
they must contrtbut: greatly IL our prosperity
IN lie comtt,g years.
The maximum injury on The farming anu
lantl-ownu. interest which l"sc low utises cat
| SLs
tevt sociaiIy, is mt 10 be very 'nuch exaggerated
| ua regards itb aciua! amount. Tle impression
| given hy reported reduct!oua of ~, 60, nrd even
10 per cont IN rents Is 'i.at asrieut,'re's almost
preston in wards Is IL slow IT'S cxascsra,io;
| it is quito plain that although reductions VI
rent take place after series ol bud seasons ot
unusua! length, this Is no measure o. ~ pGf-
| mancnt sta,e Of forming Under the new eondI-
I lions. With better i'rvtst.. even II prices
continue low, the whole return to fartner!, uni
landowner will be better tnn It IS now. fI!'nl'
~, there will probably DO moderate u1lnstiu-
| ttou OF rent In tl,g aggregate, aud part 1l ihe
sol, .nny l,e thrown olt Of cultivation, Or the
mode Of cultivation cllaiEsd, Involving tist 1858
Of employment, therefore, tor ccrta'll amount
Of lnbor u1.l capisal. But, compared with tl'c
aggregate resources Of tl,r country, what can
br The amount Of these losses eve1, On
very unfavorablo suppos,'i'Ht Ihe %bo'e
annual value Of land Under Schedule q
a r",rS D Is Ter ,u eent, whIcS would b. large Te:
t!uction for per,nnnency. Hotwitf'atnnaMg gil
VIC hcnnof mosncntary reductions, viii thls M be
sn very SERIOUS a matter fnt ttc enuhsfs m
tlustrtal!y, although socially embarrassing for
time! We doubt 1t. The laild TO l'e throwis
out Of cultivation. s..p2vsl,'s such fa'l q 9
aggregate rental to take p!acc, Will bo u ss''nsi
! muEEin indeed. And as the whole agricultural
population is oply fraction OF the wl'o!o poptl-
Iatton of liz country. IN Englatd not slleli
inure than tenlA part, tlle LABOR ~ ne uls'
placed cnh only bo traction of tint tgnth part.
| COMPARATIVELY tAeLi tA'ailAo "tt ~ o"0
only slightly injecting illc resources ot tnn'rf
llkG England. Tie displacement Of teutll
part OF an industry which IL Itself ullly tr'ltl'
Ut tic whulu Industry oi tlc country
wnu1d only. como to | per cent Of thI
tu.al, mn{ VIC doubt Il the dis
pInrespcnt will bu even FL great Everything:
III Hur industry is Oh ~ large scale tllRt tllt
displacement In ABSOLUTE amount Will aprens
most formidable to t!ose III co'ltact with u. bul
we must uot forget III thrac questions how lasst
aro the comparative t!curS VIC are deall'1g Wit!
Whiiu this Will be lie extent of tue mischief
there will obyinusly be EAiil8 on tic uttrr Hl.!c
Whit ,.r landowners lose. Bs Tar as tlle !Cussri
! Itself IA continued, aid tllcrc Is no correspond
il1g displacement OF labor A, capa will clear
IL be so m,,c gained to the rest Of tiIe eolintry
fNe full III rents Will represent, not sedi1ctoi'
! hut Il traps.rret,cc Of iuco,nc. However lin
nprtant this ,,ay b. ktrially, It is clearly ol III
consequence In d question vi the aggrcGat
| Income OF the country, Tic gain to the wbH
: community tpay hc oven lnure thnn WIN
. thu luuItords lose. Tile fall uf rcnta arlkt
l. fr0n conditions involving low prices fu
Il atucs md I,npiomcnts, AMI for materials Nhrf
:. turner's nut into the soi1.-!rufn conditions
X therefore, which may lead to much greater r.
Y tIurtion Of the prtcG u[ iartn pratluco 10 til
+. rn,1sunlrr than the amount Of tllH ngkeegal
fnli In -tnLa ynIue distributed over the value u
tRist tllj
punt. II Is enough to sioW M t',at y. ~, Wi,aL !i sa'.