no AGRICULTURAL DEPRESSION 



the landlord instead of receiving, as he justly ought to 

 receive, a fair return for his own money. 



The second reply to this complaint is beside the point, 

 because it assumes that what is quite true as to deteriorated 

 farms is also true as to farms which have been kept in 

 high condition. No evidence has been brought before 

 us, to show that, in regard to farms of this class even in 

 the worst districts, the old tenant is in a position to 

 dictate terms. The only perfect freedom of contract 

 exists in the case of practically worthless farms, which 

 have been thrown up in despair. Even in Essex there 

 have been as to farms in high or good condition some 

 tight bargains both as regards rents and conditions. 

 For farms in high condition even a new tenant is not 

 able to make his own terms anywhere. " There is strong 

 competition for good farms even in these days of 

 depression." Even in the case of a new tenant before 

 he starts, " a man is not in a position to make a fair 

 bargain. A man who wants to make a strong bargain 

 is often kicked out of our county." (Wilkinson.) 



But in the case of an old tenant and a highly-improved 

 farm there is not a shadow of freedom of contract. He, 

 probably enough, on many estates managed on just and 

 liberal lines, is perfectly safe so long as the policy of the 

 estate remains the same ; but he has no security, and is 

 in no position to bargain. The more capital he has 

 sunk, the more he dreads being turned out, and the 

 more he is disposed to acquiesce in a rent which, in 

 practice, transfers his interest in the holding to the 

 landlord's pocket. The better tenant he has been, the 

 less strong is his position. If he serves a notice to quit, 

 the higher the condition of the farm, the more certain he 

 is to be cornered by the fact that others are eager to 

 reap the fruits of his efforts. 



