214 PLANT PRODUCTS 



towards a part ownership, which is already effective if 

 unacknowledged; 



The relationship between the price of grain and the wages 

 of labour must always determine the amount of labour 

 available upon the farm. The discussion of a possible 

 sliding scale between prices and wages presents many 

 difficulties, but sliding scales have been adopted in other 

 industries which, in spite of their crudity, have been success- 

 ful. The sliding scale which affects the price of gas and the 

 dividends of shareholders has played a very useful part, 

 though it would be difficult to conceive a more hopelessly 

 crude basis than that on which it was founded. 



The amount of capital per acre in England is about 7, 

 whereas in former days it was much higher, 10 per acre 

 being regarded as a kind of minimum. Other parts of 

 Western Europe have needed capital of 20 per acre. Capital, 

 in agriculture, stands in a rather different position to what it 

 does in many other industries, because in agriculture currency 

 also occupies a different position. In primitive farming, 

 currency is practically negligible. Currency to-day stands 

 also in a peculiar position, but Great Britain has been far less 

 affected than other countries in this respect. The currency of 

 this country is supposed to rest on a gold basis, and nominally 

 the treasury note is payable in gold at the Bank of England. 

 In Germany, the gold currency is practically suspended. 

 The German Government paper bond for ten kilogrammes 

 of potatoes is honoured at the proper place for dealing 

 with those articles, but the German Government paper 

 bond for a weight of gold corresponding to twenty marks is 

 not honoured at the place commonly dealing in gold. It 

 would be, therefore, more correct to say that Germany has a 

 potato currency than that she has a gold currency. 



Money plays no practical part in the business of Indian 

 agriculture. It is, therefore, perfectly possible to conduct 

 agriculture without currency, but it would be incorrect 

 to say that an Indian village had no capital, because it has 

 houses, implements, etc., but such capital is very immobile. 

 Not very many years ago the farmer in Great Britain had 



