LECTURE III 

 OTHER ECONOMIC FACTORS 



Perhaps the most important conclusion of my first 

 lecture was that relating to the function of the landlord olass 

 in the national economy. It will be remembered that I 

 stated that if they understand and exercise their business 

 they ought to be the brains and organizing power of the 

 agricultural industry. Their guiding hands are needed to 

 promote progress and safeguard efficiency. Consequently 

 the landlord must not only usually be a resident upon his 

 estate he should also look upon his duties as a profession. 

 On the other hand, absentee landlords who merely receive 

 the rents which their agents can exact from a zemindari 

 which remains unimproved are a drag upon the nation 

 socially a parasitic class. We saw that peasant proprietor- 

 ship was better than a system of rent-receiving absentee 

 landlords ; but that the best system of all for the promotion 

 of the country's economic welfare is a landlord system 

 with a class of resident landlords who take a vital interest 

 in their tenants and the promotion of agriculture. 



In the present lecture I propose to consider the economic 

 conditions under which agriculture is carried on and the 

 relation of the landlord to them. This will provide us 

 with useful ideas as to the financial aspects of the landlord's 

 business ; and when in possession of this information we 

 may proceed in future lectures to see how the tenancy 

 law may assist the landlord in the proper conduct of his 

 business whilst yet offering to the tenant all necessary 

 safeguards. 



