Agricultural Capital and Profits 8 1 



in prices, there is no doubt (from the evi- 

 dence) that there has been a great loss in 

 many cases of farmers' capital ; but it is 

 impossible to estimate the amount. 



The Commissioners, however, report that 

 they do not find any evidence that any 

 judicial interference is desirable, or is even 

 desired in the readjustment of rents. There 

 seems to be no doubt that the brunt of 

 the loss fell on the landlords to begin 

 with. In the districts subject to the most 

 severe depression, it is said that the farmers 

 do not pay more for the land than the 

 equivalent of what is required for the up- 

 keep of the farm and the public charges, 

 and in some cases they pay less. In the 

 most depressed parts of England, we are 

 told, the fall in rent has been, on the 

 average, 50 per cent., and in some cases 

 as much as 80 per cent. 



The principle of security for the tenant's 



F 



