The Organisation of the Industry. ii 



which is left undone to put land to its most profitable use, 

 and to adapt its equipment to the requirements of 

 diversified farming-. The impoverishment of the land- 

 owners by the new burden of taxation, which not only 

 cripples their incomes but cuts into their capital, is un- 

 doubtedly the main cause of the neglect. They have not 

 the money with which to make the necessary changes. To 

 say this, however, is only to say that the modern system 

 of farming has broken down in one of its most essential 

 features. . . . The land has suffered and is still suffering. 

 Thousands of acres of tillage and grass land are com- 

 paratively wasted, under-farmed and under-manned." 

 (" English Farming," p. 398). The Duke of Richmond 

 and Gordon, speaking in March, 1921, said " he feared 

 very much whether in the future large landowners would 

 be able and have the money to maintain their estates in 

 the way in which they had carried them on in former years. 

 Many hardly realised the difficulties that now were upon 

 such landowners. In many cases on his property all that 

 came to him out of £1 rent was from 2/6 to 3/-." He 

 went on to suggest that the only way in which the land- 

 lord could live was by disposing of a number of his farms. 

 Coming from an owner of well-managed estates, the 

 statement is significant. 



The acknowledged inability of the landowners to finance 

 their estates has been further confirmed by the large 

 number of estates which have changed hands in the last 

 few years. At first sight it might appear that the prices 

 paid for these estates indicated that the purchasers had 

 sufficient confidence in the industry to offer enhanced 

 prices, and hoped to be able to maintain them as going 



