Page:Indian Journal of Economics Volume 2.djvu/414

 898 H. GAL VERI' a grea factor in causing the If land were o decline in fall ou of favor as a source of he capRal hus se free would be dovelopmen in oher directions. I evil ha he new capRal is invested and no in improvements o he land. rise is the rise itsoiL value, it would rapidly investment, and available-for is an obvious in he land Of he several companies owning railways in the province, none h raced much of is capital from wRhin R, ye the official repor shows ha nearly 2 crores of rupees land last year. This money area under cultivation nor were spent on buying neither adds to the increases the produce Another serious is that inflated possible for the little capital o obtain from the present area. drawback in the existing situation land values render it practically ira- small owner or he tenan wRh a land. There is no means ot arriving at the number of owners who have been ex- propriated in recent years. But of the 960,000 sale transactions in the last 21 years, a certain propor, on must represent reductions of holdings below the limit of economic livelihood, and a further proportion must represent the fall of ancient owners to the position of tenants. It is no answer to say that there must have been corresponding additions to other holdings. It is of little moment whether the well-to-do adds a. few acres o an esae already large enough for his support in that tenants and should be able a8 a of the comfort. the reward of It is of considerable importmce owners of forward Nearly look hrif. province are themselves uneconomic holdings to acquiring land half the land is cultivated by tenants at will: owners in the considerable strengthen they many neighboring village; bu a not owners, and it would position in he province if 8aIne or a number are he economic could become so.