18 SEPTEMBER 1886, Page 2

The Statist of Saturday last published evidence which certainly proves

a heavy fall in the prices of Irish produce, though it must be remembered that the tenant benefits by the quantity as well as price of his crop, and a bumper harvest might be as profitable as a high price. According to the Statist, butchers' meat has fallen from 10 to 19 per cent. ; cheese, 20 per cent. ; milk, 12 per cent.; butter, from 6 to 12 per cent. ; and wool, from 19 to 31 per cent., according to quality. As the expense of production for a bad market is the same as the expense for a good one, this fall comes out of the margin available for rent, it was reported that the article embodying these statements was written by Mr. R. Giffen—which is not true— but we do not see what difference that makes. An arith- metic table can only be true if it is drawn by the greatest statist alive. If the facts are true, and of coarse they will be debated—they must be wrong about wool, which has risen sharply—a ease for revision of rents has certainly been made out. People argue as if tenants in applying for revision were breaking contract, but the whole idea of contract is surrendered by the Irish Land Law. Judges, not the landlord and tenant, are to decide what is a fair rent.