[To the Editor of the SPECTATOR.] _ Sta;--=Agriculture in this
-country is a question upon which it is thought that only a farmer, or a landlord, or (at a pinch) an agricultural T.U. delegate, is qualified. to speak. We,• therefore, get the absurd position of farmers trying to deal with questions which have little, to do with agriculture; but a great deal to do with economics. How, in the name of wisdom, is a farmer, or a landlord, or an agricultural labourer, capable of explaining to us why the agricultural industry is -short of capital ? •On the other hand, economists, far-from-taking up- the parable, are almost completely silent, having, one sup. poses, no suggestion to offer.
Thsit there is-little wrong with agriculture, beyond what is attributable, either directly or indirectly, to economic causes beyond the control of agriculturista, is probably very near the truth ; and few will be found to differ from Mr. H. Donald Cauley, when he says, "To the question, What is wrong with-farming ? ' I would answer, firstly, ' Lack of Capital.' " •
This, then, is an economic question. with little bearing, beyond the incidental, upon agriculture. The same thing may happen to any other industry, indeed, is happening, as far as one may judge, to many others. Why, then, are some industries short of capital, whilst others obtain all the capital they want ? There is only one answer to this question, and, however unpalatable it is,.the time must come when we shall have to face it. An industry among industries, is like an individual among individuals, or like a nation among nations ; and; just as some-individuals are poor, whilst others are rich; so also there are industries which are poor industries, and nations which are poor nations, where others are rich and prosperous.
The time has gone by when sensible men will any longer be put off with the fairy tale that this is the result of their individual industry or thrift. One cannot say that an agricultural industry is lazy, or good-for-nothing, or thriftless. The truth is, that its bargaining power is below. par. As 'an industry the agricultural industry in England does not get out of the bargains' into- which it inevitably must enter what it should- get out 'of them.—I anr, Sir. &c. - -
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