THE STATE AS FARMER 135 



rate which the experts must decide. The 

 analogy of the War Loan will help us here. 

 The State must have the only option available : 

 it must have the right to pay off at par any 

 sum at any time by some process of drawings, 

 so that in the course of the decades the 

 country may be once more free. By this 

 provision the public will obtain the benefit 

 of cheap money, and the land will be spared 

 the disgrace of becoming a stock exchange 

 shuttlecock. By a certain ease in relation 

 to money the less advanced portions of our 

 agricultural areas can be brought up in 

 condition, important national works can be 

 carried through, and the social as well as the 

 scientific well-being of our rural areas can be 

 accomplished. The various local authorities 

 will have enough to do with structures to 

 grudge the land itself to the nation as a 

 whole. But it is to these authorities that we 

 shall look for the details of management that 

 will be so interesting to observe. 



The exchange of land for land stock 

 having been accomplished, the holders of the 

 latter will have no necessary connection with 

 the former. A situation similar to this has 



