34 i&nts t Wages, and Profits in Agriculture 



England by keeping up the old tradition 

 of moderate rents and practical fixity of 

 tenure so long as the land was well 

 treated. 



After about 1875 a period of depression 

 set in, so far as rents are concerned, the 

 great and sufficient cause being the immense 

 cheapening of transport, and at the same 

 time, the great development of agriculture 

 on a large scale in new countries. The de- 

 pression has affected agriculture generally, 

 but rents have suffered most. Not only have 

 money rents fallen, but in many cases 

 reductions have been made in addition and 

 arrears have been written off. 



At the same time, greater security has 

 been afforded to the tenants by the Agri- 

 cural Holdings Acts, and the tenants have 

 protected themselves by refusing to take 

 long leases. 



The burdens of rates and taxes have 



