It will readily be inferred, even by those unacquainted with Ireland; that a process for healing ancient wounds has been turned into a process for exasperating future conflicts. A blister has been substituted for a poultice on the sores of centuries. Existing agreements are blocked. Future agreements—for this is their appropriate, if cynical—designation, are relegated to a future which few can foresee. Landlords who have contracted to sell are threatened with bankruptcy by the foreclosure of mortgages. Tenants who have contracted to buy see their hopes deferred with sick hearts. Whilst to owners and occupiers who have not completed their bargains "no hope comes at all." The newly won prosperity of Ireland is doomed because the Nationalist party and British Government have not kept faith; and with prosperity peace is departing. The environment that breeds agrarian disorder and crime has been restored, and agitators, in expectation of Home Rule, are already at "their dirty work again." A new plan of campaign menaces the peace of Ireland in those districts whose past records are most darkly stained.

Examination of the reasons alleged for tearing up the Treaty of 1903.—The Government defended their reversal of the policy of 1903, and departure from their pledges to carry out that policy, by making two assertions. They asserted (1) that the size of the problem, which all parties undertook to solve, would exceed by far the speculative estimate put forward in 1903; (2) that the credit of the British Exchequer, which they have depressed, would prove unequal to the burden foreshadowed by the new dimensions, which they have assigned. (1) Size of the problem. The first assertion, that much nearer £200,000,000 than £100,000,000 must be borrowed in order to complete purchase, is based on two assumptions explicitly stated in the Return presented to Parliament (Cd. 4412 of 1908) as follows: "It will be observed that the purchase money of the agricultural land not yet brought before the Commissioners for sale under the Land Purchase Acts has been estimated on the assumption that it will be all sold and that it will be sold on an average at the price for which lands had been sold up to 30th April last, under the Irish Land Act (1903)." The assumptions on which the Government proceeded are not, therefore, in doubt, but the validity of those assumptions, on which the whole case of the Government depends, is refuted by the ascertained facts of Irish agriculture. The census shows that the number of agricultural holdings in Ireland is about 490,000, including nearly 19 million acres. The whole area of Ireland includes some 21 million acres, apportioned to 3-1/2 million acres under crops, 6 million acres of waste, and 11-1/2 million acres under grass. The Return to which I have referred (Cd. 4412 of 1908) cavils at the figures given in the census on the ground that the 490,000 "holdings" are more accurately 490,000 "land-holders," since a tenant holding "half a dozen farms in the same county is returned as having a single holding." But it is right to take "holders" when, as under the Act of 1903, the limit on advances applies to the person who receives them. Again, the Return throws over the census for figures supplied by the Department of Agriculture. But it is wrong to use these figures, for they include holdings not exceeding one acre, of which there are 80,000 in Ireland, and many more that cannot be described as "in the main agricultural or pastoral." No special pleading on the part of the Government can alter the fact that the 490,000 holdings given by the census include all the lands under crops and grass and two-thirds of the waste. They embrace 19 million acres, and more than cover the ground. For the purpose of an estimate it is an outside figure, the more so since, in respect of grass lands the value of a single farm may exceed the limit of any one advance, and it is not uncommon for a large grazier to rent many grass farms. If the Government, by conferring a judicial status on the Estate Commissioners, surrendered their control over the amounts of single advances; and again, if the Government, at the dictation of Mr. Dillon, embarked on a new policy of creating tenancies in grass land and selling them to new men, they are debarred from increasing the estimate to cover their own misfeasance. In tendering the speculative estimate of 1903, it was clearly laid down that the amount of one advance was only to be increased in rare cases, and the sub-division of permanent pasture was denounced as a "form of economic insanity." It was also explained that deductions must be made from the 490,000 holdings in respect of small town plots, accommodation plots, and market gardens; nor are these insignificant, for to the 80,000 holdings not exceeding one acre we must add 62,000 of from 1 to 5 acres. In the face of these facts, the assumption that "all agricultural land"—as defined in the Return—will be sold, is not only unsound but preposterous.

The second assumption, that the average price of future transactions will equal that of past transactions is opposed to the presumption that better, and therefore dearer farms, came into the market before worse and therefore cheaper farms. I am not referring to the number of years' purchase offered, a point on which I have never expressed an opinion, but to the value of the property which passes. It is with farms as with oranges, the good ones go first. The pertinence of this maxim to land purchase is proved by the reports of the Estates Commissioners. These contradict the Government's second assumption, for they exhibit a steady and continuous decline in the average of advances that have been made. The average amount of advances under the Act of 1903 to March 31, 1908, was in round numbers £361. On some such figures the second assumption rests. I ventured at the time to assert that the average in the future would not exceed £300. This estimate has been confirmed, for the average advances from March 31, 1908, to September 15, 1909—when the Act ceased to operate—was £287. A further reduction may be confidently expected, since the progress of purchase in the richer provinces has by far exceeded its progress in Connaught. In Leinster over 53,000 agreements have been lodged at an average price of over £481; in Munster over 58,000 at an average of over £420; in Ulster over 84,000 at an average of over £226; whilst in Connaught only some 26,000 at an average of just under £200.

The reasons alleged in defence of the Act of 1909 failed to justify, or even to explain, the changes it imposed. An explanation must be sought in the real reasons, and they are not far to seek. The first was that the old methods of litigation and delay, abjured by all parties in 1903, were substituted for the new methods of speed and ease, because Mr. Dillon so willed it; and the second, that the policy of abolishing dual ownership, to which Mr. Redmond stood pledged, had to be ousted, again at Mr. Dillon's dictation, to make way for the folly of creating new tenancies, of symmetrical size, throughout all Ireland. The Treaty was torn up because Mr. Dillon, acting as deputy for Mr. Birrell (whose main argument for Home Rule is that it bores him to be Chief Secretary), ordered Mr. Redmond to eat his words.

From this examination of the reasons for destroying the Act of 1903, the true size and nature of the financial problem emerges. From the total of some 490,000 holdings substantial reductions must be made in respect of waste lands, grass lands, and accommodation plots, and, again, in view of the limitation on the amount that may be advanced to one person. We ought probably to deduct 20 per cent., but if, to be on the safe side, we deduct only 15 per cent., 416,000 are left. These, however, include some 80,000 sold before the Act of 1903, or under the Land Commissioners as distinct from the Estates Commissioners. In respect of the 336,500 remaining, 257,474 agreements have been lodged under all categories in the Acts of 1903 and 1909. Indeed, a larger number have been lodged, for in most cases our information is only to March 31, 1911, leaving less than 79,000 holdings that may still come into the market. This is an outside figure, provided always that the policy of 1903 be adhered to, viz. that advances are made to occupiers and not to new men, except as under the Act of that year (sect. 2 (I) b and d, and sect. 75) in rare cases, rigidly defined, of the sons of tenants and of evicted tenants.

If the average price remains at the figure for the period March 31, 1908, to September 15, 1909—viz. £287—a further sum of £22,673,000 may be required in excess of £84,099,818 already required under the Acts of 1903 and 1909; making £106,772,818. This total includes nearly £1,000,000 for re-sales to owners and some provision for evicted tenants. Under these heads it will not expand in a greater relative degree. It includes, also, purchase of whole estates and of untenanted land by the Estates Commissioners and Congested Districts Board, and these may involve larger sums than were originally contemplated. I promised to return to that point, and will now do so. Since the Return under these heads up to March 31, 1911, tentative negotiations have been made for the purchase of a number of estates and for supplying more evicted tenants with holdings. But this does not increase the money size of the problem by much, because many of these estates—if sold to the new Congested Districts Board—are subtracted from business that would have been done by the Estates Commissioners; again, it is, as we know, impossible to spend much money, or move many migrants, or even enlarge many holdings, in one year. If the new Congested Districts Board attempts to handle some millions' worth of land in a hurry, one of two things must happen, either their work will be indefinitely delayed, or else they will sell off "uneconomic" holdings without amending their defects. The business will not cost more. It will only be scamped, or shirked. I doubt if the additions, which do not conflict with the policy of 1903, will increase the amount to be borrowed in the market, though they may increase the sums needed for working capital. Let us add for these expansions, which are strictly limited by physical impediments, £2,000,000 or even twice that amount. It still remains obvious that, even after expansions, good, bad, or indifferent, of the policy of 1903, the total sum to be borrowed cannot exceed from £110,000,000 to £113,000,000, as the outside figure that need be contemplated, provided we refrain from the "economic insanity" of distributing eleven million acres of permanent pasture among shopkeepers and "Gombeen" men. This figure of £113,000,000, indeed, exceeds what may reasonably be expected. The average of advances fell from £426 on the earliest agreements, to £361 on all agreements to March 31, 1908, and to £287 on agreements between that date and September 15, 1909. We may count on a continuation of that fall until the average approaches £200, the price for Connaught, where purchase has proceeded most slowly. But let the total stand at £113,000,000. That sum neither warrants the breach of faith of which the Government and the Nationalist party have been guilty, nor does it present an insoluble problem to the resources of a united Exchequer. £41,097,939 has already been borrowed in the market, and advanced, in less than eight years.

The policy to which the leaders of the Unionist party stand pledged may now be re-stated in the words which I was authorised to use by Mr. Arthur Balfour and Lord Lansdowne after consultation with their colleagues. Speaking on July 9, 1909, I said:—

"Our attitude is, that it is necessary to deal effectively with the block of pending agreements, but in dealing with that block it is not necessary to prejudice the interests either of the landlords or tenants, who may come to terms on some future agreements. We think that the spirit of the Act of 1903 must be observed in the case of pending agreements, but it must not be departed from in the case of future agreements."—Hansard, 1909, vol. vii. No. 93, cols. 1542, 1543.

Mr. Bonar Law confirms this pledge. He instructs me to say that the Unionist party will resume the land policy of 1903, and pursue the same objects by the best methods until all have been fully and expeditiously achieved.

The prospects of Irish agriculture under the Union include a return to the land policy of 1903, with its fair hopes of reconciliation between classes and creeds, and its accomplished result of abounding prosperity. What are the prospects of Irish agriculture under Home Rule? Of what Home Rule may mean in this, as in other respects, we have been told so little that we are driven to consider its effect on Irish agriculture in the light of two contingencies. It may be that the extremists, with whom Mr. Dillon invariably ranges himself, as a preliminary to dragging Mr. Redmond after him, will have their way. In that case, Ireland will exact complete fiscal autonomy from a Government which invariably surrenders to Mr. Dillon's puppet. Should this occur, land purchase will cease abruptly in the absence of credit for borrowing the sums it requires. Take the other alternative, hazily outlined by Mr. Winston Churchill at Belfast. We glean from his pronouncement that the Government intend—if they can—to refuse fiscal autonomy, and to preserve control over land purchase. Can it be expected that this attempt, even if it succeeds, will produce better results for land purchase than the pitiable failure of the Act of 1909? Is it not certain that less money will be raised in England, for Ireland, after Home Rule? And if raised in driblets, on what will it be spent? Obviously, not on the policy of 1903, but on the policy substituted by Mr. Dillon in 1909. It will be spent on expelling landlords and graziers to make room for subscribers to the propaganda of extremists. We must judge of what will happen to agriculture after Home Rule by what has happened since the Treaty of 1903 was repudiated. Nor must we forget that Mr. Dillon's destructive activity has ranged beyond land purchase. That policy could have achieved little but for the untiring and generous patriotism of Sir Horace Plunkett. He established the Department of Agriculture and converted his countrymen to co-operation, in the absence of which no system of small ownership can succeed. He, too, based his efforts on a conference—the Recess Committee. How has he been met? Mr. Redmond, a member of that Committee, as later of the Land Conference, has, here again, succumbed to Mr. Dillon, who seeks to defeat co-operation between farmers, in the interests of his disciples; whilst Mr. Russell, with the hectic zeal of a pervert, has refused Ireland's share of the new Development Grant in order to spite Sir Horace Plunkett.