CHAPTER VI 



THE DEPENDENCE OF ARABLE FARMING UPON 

 PRICES 



THE degree to which arable farming may be extended 

 or even maintained must, however, be limited by two 

 factors the average price of the chief agricultural 

 products, wheat and meat for example, and the price 

 of labour. We know that at the scale of prices prevail- 

 ing during the years immediately preceding the war, 

 with wheat at about 355. per quarter, arable farming was 

 distinctly prosperous, so much so that it might with 

 profit have been extended over at least as much land 

 as had been under the plough in 1872. If we further 

 take into account the possibilities of diminishing costs 

 by the greater use of machinery and improved organiza- 

 tion, as on the suggested large scale farms,* we might 

 expect that the land could pay wages at rates compar- 

 able to those received by labourers in other industries, 

 and yet provide a reasonable return for capital and 

 management. But if prices again go down to the level 

 that was reached in the 'nineties and wheat has to be 

 sold at well under 305., all these prospects vanish. 



With wheat permanently at 255. and other produce 

 to correspond (a rough equivalence will always be main- 

 tained because wheat can be used to replace other 

 feeding-stuffs), no available skill or organization can 

 keep under arable cultivation any but the choicest of 



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