164 Rents ^ Wages, and Profits in Agriculture 



encouragement may be given to the creation 

 of small holdings. This was the landlords' 

 remedy after the Black Death, and the 

 consequent rise in wages and fall in profits. 

 But as already indicated, the difficulty is in 

 the provision of the necessary capital. From 

 the point of view of the fixed capital 

 required, in the form of buildings, farm 

 roads, fences, etc., it is more economical to 

 throw holdings together than to break 

 them up. Otherwise, so far, some form of 

 the land and stock lease, or of the metayer 

 system, or the American " share " method, 

 might get over the difficulty. 



To the small holder, the profit on the 

 capital is in itself of minor importance 

 compared with the wages of labour : or 

 wages and profits are mixed together in the 

 general return to the industry of the small 

 farmer. In countries of peasant proprietors, 

 the people are content with what in this 



