AGRARIAN POLITICS. 89 



diction, as it were, the one to the other. A minimum wage, 

 if it is fixed at a sum equal to that which a workman of average 

 capacity might earn in some other trade, is a powerful instrument 

 of economy. It prevents men being employed on tasks worth 

 less than those on which they might be employed in other indus- 

 tries. Thus it ensures the economic use of the nation's man- 

 power. But guaranteed prices, if they are any higher than the 

 prices which the goods subject to them would fetch in the open 

 market without the guarantee, turn this instrument of economy 

 into an excuse for extravagance. The minimum wage without 

 the guarantee means that the employer will only use labour 

 for tasks which are really worth while from the point of view 

 of national economy. But guaranteed prices may give tasks 

 an artificial value so that the employer finds it pays him to 

 employ men upon tasks which, though they yield a good money 

 return because of their guaranteed value, only produce a small 

 result in actual goods for a considerable expenditure of human 

 energy. Linked together, a minimum wage and a guaranteed 

 price may unite master and man in a misdirection of labour 

 which is a gross waste of national wealth. 



Mr. Lennard proceeded to discuss the considerations 

 other than economic which may be taken into account in 

 developing an agricultural policy. Welfare is more than 

 wealth, and while material prosperity is vital to civilisation 

 other things are also vital, such as national security and 

 a healthy constitution of society. The development of 

 Agriculture up to the economic maximum adds to the 

 nation's wealth, and if this limit is exceeded labour and 

 capital are employed in directions less remunerative than 

 those in which they might otherwise be employed. This 

 may be justifiable, but it must be justified on other than 

 economic grounds. 



This point, which has been already touched on in pre- 

 ceding chapters, 1 needs repeated emphasis. As I have 

 elsewhere observed 



" In any forecast of the future of British Agriculture it 

 is desirable to be clear what is expected of it. Shortly stated, 

 the agricultural land of a country may be developed for one 

 of three main objects profit, production or population." 2 



An agricultural policy which has for its main object the 



1 Chapters, V and VI. 



* Food Supplies in Peace avd War (Longmans), p. 152. 



