FISCAL POLICY AND AGRICULTURE 365 



of the Census) was 3*8 per cent; in 1902, 4*4 per 

 cent; in 1903, 5'i per cent; and last year, 1904, it 

 had risen to 6.5 per cent. This does not show the 

 worst of the case, as a man though he might be 

 working short time is returned as "employed."^ 



In previous chapters^ it has been pointed out that 

 the decHne in our home market is due to the decay 

 of agriculture — to the yearly diminishing purchasing 

 power derived from the productiveness of our own 

 fields. This fact, and the consequent rural depopula- 

 tion, have the closest connection with the unfavourable 

 industrial statistics quoted. Together they are in the 

 position of cause and effect. Our over-sea trade — to 

 which agriculture was sacrificed — however valuable, 

 must of necessity, under present conditions, be an 

 uncertain quantity, liable to attack from all quarters. 

 But our home trade, if wisely and properly safe- 

 guarded, would be under our own control.^- 



Had the industrial and manufacturing classes of this 

 country in the past been more far-sighted with regard 

 to agriculture, they would now be in the possession of an 

 increased home trade, to be reckoned by millions per 

 annum, and would still retain the over-sea trade, or so 

 much of it as hostile tariffs allow them to keep. 



1 " Abstract of Labour Statistics," Board oi Trade (Labour Depart- 

 ment), 1905, Cd. 2491. 



^ " The Home Market and the Industrial Classes," chapter xviii, 

 ' In Germany the home trade is well protected, but the increase in the 

 exports from that country of many kinds of manufactures is very remark- 

 able. During the past decade of years the total value of machinery of 

 all descriptions exported from Germany has increased veiy nearly three- 

 fold ; for whilst in the year 1894 the total exports of these goods amounted 

 ^o £3,970,000, their value in 1903 rose to ;^ 11,600,000. ("Diplomatic and 

 Consular Reports," Germany, 1904, No. 622.) 



