Vlll CONTENTS 



CHAPTER V 



THE ECONOMIC POSITION OF FARMING IN COMBATING page 



LOW PRICES 



The outgoings of farming — Cost of farming — Cost of growing corn 

 crops — The four-course system — The cost of labour--The 

 efficiency of labour — The position of the labourer — Fertilisers 

 and feeding stuffs — Does high farming pay ? — What items 

 must be cut down to get a true balance . . .64 



CHAPTER VI 



THE FARM ACCOUNTS 



The balance is generally wrong — Illustrations — Too narrow margin 

 — Instances of better equilibrium — Position nearly hopeless — 

 A fair commercial return — Summary of whole of the accounts 

 put in— The tenant's share — The landlord's share . . 76 



CHAPTER VII 



RENTS AS A CAUSE OF DEPRESSION 



Excessive rents a chief cause of depression — Reduction of rents insuf- 

 ficient — Abatements and remissions — Rents not reduced soon 

 enough — Conclusion — Reductions to bad and new tenants 

 more than to good and old tenants — Scotch evidence — Con- 

 fiscation of tenants' improvements . . . .93 



CHAPTER VIII 



COMPETITION AND RENT 



Competition in its relation to rent — Causes of competition — Results 

 of competition. Rack-renting by competition — Not the fault 

 of the tenant — Disclaimed by many landlords — Mr Gilbert 

 Murray's suggestions — Rents by valuation . . . iii 



CHAPTER IX 



THE RELATION OF RENTS TO LANDLORDS' IMPROVEMENTS AND 

 CAPITAL VALUE OF LAND, AND TO MORTGAGES, ETC. 



Landlords' improvements — Causes of expenditure since depression 

 — Figures as to some large estates — Improvements on Crown 

 and other corporate estates — Expenditure charged under Im- 

 provements Act — Exceptional efforts on large and small 

 estates — Neglect of improvements — Heavy expenditure on 

 mansion houses — The farmers' demand for improvements — 

 Landlords' improvements as a justification for rent — Fallacies 

 of some assumptions — Landlords' improvements really paid 

 for by tenants — Tenant has no similar rights — Rents in rela- 

 tion to capital value of land — Some high rents confiscate 

 wages — Mortgages and other encumbrances — Consequences 

 of overcharging estates — Insecurity of tenants — suggestions, 

 conclusions, and recommendations . . . .119 



