^0 Rents, Wages, and Profits in Agriculture 



profit to the farmer is 29s. an acre — i.e., 

 probably 25 per cent, on the capital — and 

 over all, the profit of the farmer is, after 

 all charges are deducted, considerably 

 more than the rent. On this Rogers 

 observes : " This rate of profit [presumably 

 he means calculated per cent, on the 

 capital employed] is considerably less 

 than that procured under the ancient 

 system of capitalist agriculture, or that 

 which succeeded the land and stock lease, 

 and even that of the short lease which 

 followed." But if this is true — again it 

 must be said it is difficult to understand 

 where, in the earlier period, the rapacity 

 of the landlord comes in. 



It will be remembered that, according to 

 Rogers, for centuries in the mediaeval 

 period — that is, up to the time of the rise 

 in prices, which is one of the marks of 

 transition to the modern period — the 



