Agricultural Capital and Profits y7 



There were, no doubt, during this period 

 (1800- 1 850) years of general agricultural 

 depression, especially between 18 19 and 

 1838, and the principal cause then, as now, 

 was the relative fall in prices. During the 

 first twenty years of the century the price 

 of wheat averaged 88s. a quarter, during the 

 next five years it fell to 57s. 2d., in 1822 

 it was 44s. 7d., and in 1835 only 39s. 4d. 

 But on the whole, during the half century, 

 as Porter shows, there was progress, and 

 agricultural capital increased. 



During the thirty years that followed 

 the repeal of the Corn Laws there was 

 great prosperity in agriculture, especially 

 after 1858. From 1850 to 1878 the rent 

 of cultivated land in England increased 

 from 27s. to 30S. per acre (Caird), whilst in 

 1770 it was only 13s. With the rise in 

 rent, and the anticipation of a further 

 rise, there was a still greater rise in the 



