84 AGRICULTURAL DEPRESSION 



^^380, and profits ;^I94, or 4-9 per cent, on capital, or 8s 5d 

 an acre. Rent has averaged i^344, was reduced from 

 ;if400 to ;^300 in 1886, and in 1893 was ;^262 los. The 

 owner has taken about us 6d an acre as his share, and 

 left his skilful tenant to draw 8s 5d an acre — a fair 

 adjustment, which has had excellent results.^ 



A Northants farm of 324 acres, three-fourths arable, 

 well worked by a tenant who has private means, shows 

 averages over seven years for labour, £^66 15s, in 1893 

 ;^478 us ; for manures and feeding stuffs, etc. ;^347, in 

 1893 -^402 13s, and an average profit of ^^241 i6s id or 

 14s lofd an acre, or 6 per cent, on ;^4000 capital. Rent 

 and rates together were, in 1887 i^474, and in 1893 

 ^324 15s, a reduction in these items of about 28 per 

 cent. Here, again, is shown a favourable economic 

 result from a fair sharing of profit and loss between 

 owner and occupier.^ 



A heavy clay farm of 316 acres, in the same county, 

 two-thirds grass, shows a slightly diminishing labour 

 bill, i^243 17s in 1885, and £\6% 8s in 1893, ^^d a 

 slightly increasing outlay in feeding stuffs and manures. 

 The average annual profit has been about ;^ioo or a 

 little over 4 per cent. Rent has averaged ^333.^ 



A "four-course system" farm in Norfolk, of 425 acres, 

 nearly all arable, shows over thirteen years, averages of 

 ;^544 for labour (in last three years ^^586, ^587, and 

 ^59^) of £^^6 for manures, feeding stuffs, etc., and a 

 profit of ^280 for interest on capital and remuneration 

 for management. The average for rent, tithes, rates 

 and taxes has been £^^'^. This shows a fair distribu- 

 tion as between owner and occupier.^ 



A three years' average of accounts on a farm of 640 

 acres (two-thirds arable) in West Norfolk shows a 

 balance for tenant's interest and remuneration of ^^^185, 

 after outgoings for labour of ^^621, manures, etc. ;^I47, 

 and rent, tithe, rates and taxes of ^^555 14s. The 



' Wilson P'ox, Line, App. C. VII., p. 119. Farm Accounts, p. 119. 

 - Ibid., App. C. X., p. 126. Farm Accounts, p. 151. 

 ' Ibid., App. C. XL. Farm Accounts, p. 152. 



* Rew, Norfolk App. E. I., p. 112 ; also para. 45, p. 25. Farm Accounts, 

 p. 142. 



