1 8 AGRICULTURAL DEPRESSION 



England. Arable districts, such as parts of Denbigh- 

 shire, Flintshire, Glamorganshire, Cardiganshire, Carmar- 

 thenshire, and Monmouthshire, have suffered severely, 

 and there have been many changes of tenancy. The 

 larger farmers seem everywhere to have suffered most, 

 though this is mainly a question of adequate capital. 



Mr R. Stratton, who farms over 3000 acres in 

 Monmouthshire, says that for the last ten or fifteen years 

 he has just made a living, without interest on his capital. 



" Farmers are just living from hand to mouth." 



Mr Jones, Merioneth, says, " Taking the last ten years, 

 there is not a penny of profit, and I am doing my best." 



Depression seems to have reached the upland and 

 grazing districts about 1884. 



The heavy fall of prices of all the staple produce of 

 Wales, especially the drop of fully 50 per cent, in wool, 

 and the exceptional depreciation of all stock in the 

 disastrous seasons of 1892 and 1893, have inflicted severe 

 losses everywhere through the hill and grazing districts, 

 which had, before 1884, been moderately prosperous. 

 The fall in dairy produce has also hit many districts. 



The position of farmers in many districts is described 

 as serious, and involving great hardship and uncertainty. 

 The small occupying owners have largely lost their 

 capital, and are in some districts anxious to sell their 

 land. The capital of tenant farmers has been heavily 

 reduced where it has not been completely swept away. 



Mr Fisher states that farmers can only meet the in- 

 creased cost of production and fall in prices by cutting 

 down the chances of their children. 



" The great majority of farmers are gradually getting 

 poorer," 



There are essential points to be borne in mind in 

 estimating the position of agriculture in Wales, and the 

 real effects of the depression in the Welsh counties. 



In the first place, there has been a relatively excep- 

 tional rise in the price of labour. It is perfectly true, as 

 pointed out by several witnesses, that many of the small' 

 " mixed " and dairy farms of Wales have good markets 

 in neighbouring large towns and collieries. But this very 



t 



