200 THE PASTORAL AGE IN AUSTRALASIA 



such men (like Dr. Traill) soon become owners (Satge, 

 98). 



The rationale of the evolution of the manager is that 

 it begins with the runholder being his own manager or 

 superintendent. When he retires to town to Hve on 

 his means or take part in public life, the manager 

 assumes his position. And when the pastoralist sells 

 or is sold out, the manager retains his place, but is 

 subordinate to the bank, mortgage-agency, or other 

 financial institution that now owns the estate. 

 Should the estate ever be nationalised, he will remain 

 as working superintendent. The evolution ends, as it 

 began, with a working-pastorahst at the head, though 

 on different planes. 



