38 



AN AGRICULTURAL FAGGOT. 



1846-50 



1851-55 

 1856-60 

 1861-65 



1866-70 



1871-75 

 1876-80 

 1881-85 

 1886-90 

 1891-95 

 1896 



During the disastrous period of depression the fall in 

 prices of corn and meat has been, comparing 1876-78 

 with 1894-96, wheat 52 per cent., barley 40 per cent., 

 oats 40 per cent., cattle 33 per cent., sheep 23 per cent. 

 Wool has fallen about 50 per cent., dairy produce nearly 

 30 per cent., and potatoes 20 to 30 per cent. 



I am conscious of the inadequacy of my attempt to 

 deal with this large subject, and I can claim to have done 

 no more than select a few facts which may perhaps be 

 suggestive of discussion. In doing this I may have failed 

 in many ways, but at least I have tried to do so 

 impartially. But it is, of course, impossible to ignore the 

 controversial aspect of the subject. 



I have endeavoured to sketch British agriculture under 

 Free Trade. The question naturally presents itself, 

 what would the history of British agriculture during the 

 past half-century have been under Protection ? Or, to 

 put it another way, to what extent has the condition of 

 agriculture been affected by the repeal of the Corn Laws ? 

 I honestly confess that I cannot supply a fair and complete 

 answer to the question. So many diverse influences have 

 affected the economic conditions that I am quite unable 

 to disentangle consequence from coincidence, or distinguish 

 between post hoc and propter hoc. 



It is quite clear that Free Trade alone is not accountable 

 for the depression of prices which has especially charac- 

 terised the past fifteen or twenty years. Setting aside 

 the consideration of changes in the currency laws — a 



