124 A NEW AGRICULTURAL POLICY 



by the community. If landowners object to 

 this plan, which is entirely my own proposition, 

 there seems to be nothing for it but to bring in 

 land nationalisation as a universal measure as 

 speedily as possible. 



The purchase of land by annuities is an 

 alternative policy to the acquisition of land 

 by means of Land Bonds, and this is being 

 done to-day by County Agricultural Commit- 

 tees, with the difference that these annuities 

 are based on market values. In any national 

 policy of acquiring land, annuities must be 

 based on the assessment value. This subject 

 is fully discussed in Mr. Emil Davies' book, 

 Land Nationalisation, and is really outside 

 the scope of my job, which is to outline an 

 agricultural policy. Land nationalisation, of 

 course, is an urban as much as a rural problem, 

 and must embrace the acquisition of the more 

 valuable golden soil which is paved with 

 asphalt. Nevertheless, as we are concerned 

 in this short study with the acquisition as 

 well as the use of agricultural land, we should 

 know that the value of this is estimated by 

 Dr. J. C. Stamp, in his British Incomes and 

 Property (191 6), at ^1,155,000,000, with a 

 further ^"250,000,000 to cover the value of 

 houses and buildings. 



Whether we issue Land Bonds or grant 

 annuities there is no question of raising the 

 money. Taxpayers will not be called upon to 



