THE OUTLOOK 295 



of agricultural production in recent times. British capital, on the 

 whole, has rather avoided those forms of investment that contribute 

 directly or indirectly to the development of the agricultural re- 

 sources of the Empire, and this may in part explain why population 

 has not been attracted in greater proportions to the land. Un- 

 fortunately, moreover, such capital has often been invested in 

 railways and other enterprises in foreign countries, which have 

 had the result of strengthening the competition of those countries 

 against the producers of foodstuffs within the Empire. It is prob- 

 able, however, that in the future less British capital will be invested 

 in foreign countries, and that, under government or collective 

 control, more will be found for purposes that contribute to the 

 development of the Empire's agricultural resources. It has to be 

 recognised that so long as the export of British private capital 

 remains free, it naturally follows the line of apparent maximum 

 return, irrespective of Imperial considerations, hence government 

 or collective action seems to be the best means of obtaining ade- 

 quate supplies for the purposes indicated. 



It has been shown above 1 that the rate of development of manu- 

 facturing industries in any area is a question of great importance 

 in determining to what extent it will be able to supply its require- 

 ments in foodstuffs, and particularly in animal foodstuffs. In the 

 United Kingdom, even if an increased number of men is employed 

 in agriculture in the future, it is probable that manufacturing 

 industries will continue to expand steadily, at least in proportion 

 to the rate of increase in the entire population. In the Dominions 

 there has recently been shown a strong desire to establish local 

 manufacturing industries, and some measure of success has attended 

 the attempts already made in this direction. The indications are 

 that these industries will develop at a somewhat rapid rate in certain 

 parts of the Dominions in the future, with unfavourable results 

 upon their net exports of foodstuffs. The whole question relating 

 to the output of manufactures as compared with that of foodstuffs 

 within the Empire, is very complicated. The present purchasing 

 power of the people of the United Kingdom depends in a large 

 measure upon widely-developed manufacturing industries, and 

 under the free-trade system, these tend to grow at the expense of 

 agriculture so long as foodstuffs (and raw materials) can be obtained 

 in abundance and cheaply from elsewhere. From the Imperial 

 point of view it seems neither necessary nor desirable that very 

 large supplies of foodstuffs, at any rate, should be drawn from foreign 

 countries. If, however, a world-shortage in animal foodstuffs 

 arises in the near future and this, as has been shown, is most 

 probable increased attention is likely to be given automatically 

 to their production, not only in the United Kingdom, but through- 

 out the Empire. 



1 See Part II., Chap, iv., pp. 235-241. 



