wholly unproved assumption that State ownership is the only alternative to an unreformed land system. The Disadvantages of State Ownership of Land It is difficult to state succinctly the many objections[8] to State ownership of land: (_a_) The first is the incompetence of the State through a rigid bureaucratic administration subject to political pressure to manage efficiently or economically a highly technical industry like agriculture, one whose conditions vary in every district and indeed on every estate (which is admitted by the Labour Party), or indeed the land on which the complex industry directly depends. (_b_) State purchase would entail an enormous addition to our National Debt which we cannot afford, and for which there is no justification. (_c_) If landowners were bought out, it is clear that the State would have to make itself responsible for finding annually a vast amount of capital for improvements, and also working capital for the very large number of peasant and other smallholding tenants. It would not, and could not, do it adequately nor as satisfactorily nor to the same extent as existing landowners. If it did, this speculative use of national funds would be quite unjustifiable. (_d_) If it is desirable to cut up large estates and farms and to establish a vast number of peasant holders in the shape of State tenants, and all the evidence from Ireland and other countries is strongly against the expediency of this course, it can be done without the abolition of private property in land. (_e_) One thing is certain, that State ownership will not tend to increase production, but will have the opposite effect. (_f_) It is equally clear that States ownership involves no improvement of the lot of the agricultural labourer, but rather the reverse. (_g_) There is not the land monopoly alleged. This appears from the fact that over one-half of the cultivated land in England and Wales consists of holdings of comparatively small extent—80 per cent, of the existing farmers farming holdings of under 101 acres. (_h_) Tenant farmers do not want State purchase. CHAPTER X THE LABOUR PARTY’S POLICY FOR UNEMPLOYMENT 1. WORK OR MAINTENANCE The Manchester Resolution of 1917—The Memorandum on War Aims, 1917—The Memorandum on Unemployment after the War, 1917—The London Resolution of 1918—The Prevention of Unemployment Bill, 1919—Labour’s Recommendations to the Industrial Conference, 1919—The Right Hon. A. Henderson’s Addendum—The Southport Resolution of 1919—The Resolution of September 1919—The Recommendations of the Joint Committee on Cost of Living, September 1920—Vote of Censure in Parliament, October 1920—Resolution of December 1920—Labour’s Refusal to Co-operate with the Government, 1921—Labour’s Statement of Policy for Unemployment, 1921—Manifesto on Unemployment, 1921.