TRANSACTIONS OF SECTION F. 74.7 



subsistence sliall be deduced from an income twice Qs large. We have tUen the 

 following formulas to calculate the tax •?: 



m (m — 1) 

 u + m—l 

 x = eu,y = ev ; 



The complete fixation of a progressive scale of taxation involves, then, only the 

 choice of three elements, viz. — 



The minimum of subsistence e ; 



the maximum of subsistence em ; and 



the constant tax- percentage P. 



The first and third of these elements must always be decided upon by any 

 iucome-tax ; thus the progressive scab increases the number of arbitrary elements 

 only by one, and this one has a quite definite sense, viz., the upper limit of the 

 necessaries of efficiency of any group of society. In spite of this extreme reduction 

 of the arbitrariness, there remains still room enough for every sensible view of 

 progressive taxation. 



4, British Agriculture. By Professor Robert Wallace. 



The nineteenth century may be divided into six very distinct periods, in which 

 prosperity and adversity to agriculture succeeded each other alternately. 



(1) During the first fourteen years great agricultural activity prevailed, owing 

 to the abnormally high prices of corn. All classes associated with land benefited, 

 but the landlords most. 



(2) The next twenty years was a time of agricultural depression, although the 

 price of wheat— 56.s. 2d. per quarter— in 1836 was more than double— 26s. llrf. — 

 the price in 1900. Bones roughly broken were first used as manure. 



(3) The abolition of the Corn Laws in 1846, during the succeeding period of 

 twelve years of prosperity, did not ruin agriculture, as was expected. Peruvian 

 guano, dissolved bone.-s, and dissolved mineral phosphates were first employed as 

 manure, and in 1843 Rothamsted, the greatest experimental station in the world, 

 was opened, to be ultimately endowed by Sir John Lawes. 



(4) The fourth short period of temporary but severe depression— 1849 to 1852 

 — opened with a sudden drop in the price of wheat. Sir James Caird advocated 

 high farming, which was applauded as usual by people generally, but not 

 followed by the tenants. 



(5) Twenty-two years— 1853 to 1874— of great agricultural prosperity 

 followed, hut economy was not sufficiently studied by either tenants or proprietors. 

 Reliable agricultural returns, dating from 1870, when compared with the corre- 

 sponding figures of 1900, show a decrease of arable land in the United Kingdom 

 of 2,600,000 acres, but a concurrent increase of 4,600,000 acres of permanent 

 pasture. The rage for steam ploughing and steam digging began, but not till 

 1898, when Darby introduced a steam digger having a horizontal rotary motion in 

 its digging parts, could mechanical motive-power field cultivation be pronounc_ed 

 financially successful. The success of the string-binding reaper dates from 1870. 

 But it was 1900 before the McCormic Company produced at the Paris Exhibition the 

 Auto-Mower. By the end of the century the oil engine had become the cheapest 

 stationary source of power on the farm. A cycle of good seasons greatly contri- 

 buted to the measure of prosperity during this period. The average yield of 

 wheat in Britain during the sixties was thirty bushels per acre, and the record 

 yield of 1863 was thirty-nine bushels. 



(6) The last long depression which closed the century began about 1875, and, 

 jn confmon with t^e dislocatioi) of the general trade of the country, was largely 



