DEFENCES AGAINST LOW PRICES OF FARM PRODUCTS. 
721 
4. — OUR DEFENCES AGAINST LOW PRICES OF FARM 
PRODUCTS. 
By E. AT. SHELTON , M.Sc. 
The extraordinary recent depreciation in the values of farm 
products must be accounted one of the most striking facts of modern 
history. The movement of values has not been a uniform one ; the 
flow has had its ebbs and side-currents, but its general course during 
the last decade has been unmistakably towards lower levels. The 
result of this steady falling away of crop values is seen in the 
obliteration of the protits of farmers practising under old-time 
conditions, and the reduction of their purchasing power until the 
solvency of a considerable class of the community is threatened. 
Yerv much of the most important recent legislation of the Australian 
colonies is but an endeavour to meet with statutory enactments the 
pressing difficulties forced upon the community by low prices. Our 
laws providing bonuses for the exportation of products, the various 
Acts looking tot he establishment of dairy factories, meat works, and 
sugar-mills, the whole protective system, much of our recent land 
legislation, and the proposed land tax, with many other measures, are 
but the incidents of this pronounced drop in the value of soil 
products. Whether this legislation is likely to accomplish its object 
needs not to be discussed in this paper. The considerable number of 
persons resident in each of the colonies, whose political faith in one 
disguise or another embraces the idea that prosperity may be enacted, 
will doubtless find in the results so far obtained ample justification of 
these extraordinary measures. 
It is instructive to note that the existing low prices due to glutted 
markets and the over-production, which is here assumed without 
debate, is due in no case to good farming, but always to bad. Rotation 
of crops, chemical manuring, underdraining, and those other practices 
commonly grouped under the heading <k scientific agriculture” have 
had no part in the recent superfluous production, and consequent 
demoralisation of values, of wheat, meat, and wool. It is the 
abundant crops growing out of the scourging system in vogue upon 
the plains of Argentina, the prairies of Dakotah, in India, Southern 
Russia, and South Australia that have brought the price of wheat to 
the lowest point known to the present generation. At least as much 
may be said of the modern production of meat, wool, and cotton. 
At the present time the scientific farming of Great Britain and 
the Eastern and Middle States of America may be said, speaking 
figuratively, to be engaged in a life-and-death struggle with a system 
which utterly ignores science, with the chances, for the present at 
least, largely in favour of the unscientific system. The use of 
machinery in modern farming is undoubtedly the most important 
contribution of science to the existing surfeit of farm supplies, hut 
machinery, it should be added, is quite as much an aid to bad farming 
as to good. 
A discussion of the causes aud probable continuance of the 
prevailing depression in the prices of farm products has no place in the 
scheme of this paper. I take it for granted, in a general way, that the 
tendencies, stronger now than at any previous time, are towards lower 
prices, and that the downward movement of market values will be 
