LARGE LANDOWNERS 85 



After 18 1 2 small capitalists no longer inves- 

 ted their savings in land. Their place as 

 buyers was taken by large landowners or 

 successful traders." The effective influence 

 that enforced the change was economic 

 pressure. 



Part Played by Large Landowners. 



The changes and chances which British 

 agriculture has since undergone have all 

 tended broadly to confirm the economic 

 necessity of the large and wealthy landowner 

 as a factor in maintaining the industry. 

 When the depression just described passed 

 away and agriculture began to revive, leading 

 up to the period of prosperity that set in after 

 1850, a great transformation of farming 

 methods was in progress entailing costly 

 improvements which small owners could not 

 afford. An enormous amount of capital was 

 sunk in improving land and providing build- 

 ings and plant. And again when the long 

 depression set in after 1874, and farmers were 

 only able to carry on with reduced rents, 

 many were nursed through it by owners whose 

 wealth was derived from other sources — 

 from coal mines, manufactures, trade, and 

 urban property. The tenants of embarrassed 

 owners who could not afford such help were 

 often ruined. The state of things is reflected 

 in the income-tax returns. The gross income 



