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meadows upon the estate, like the corn-fields, were all thrown together, such divisions as were necessary being made by iron railings. Machines of every class and character were provided—reaping-machines, mowing-machines, horse-hoes, horse-rakes, elevators—everything was to be done by machinery. That nothing might be incomplete, some new and well-designed cottages were erected for the skilled artisans—they could scarcely be called labourers—who were engaged to work these engines. The estate had previously consisted of several small farms: these were now thrown all into one, otherwise there would not have been room for this great enterprise.

      A complete system of booking was organised. From the sale of a bullock to the skin of a calf, everything was put down on paper. All these entries, made in books specially prepared and conveniently ruled for the purpose, came under Cecil's eye weekly, and were by him re-entered in his ledgers. This writing took up a large part of his time, and the labour was sometimes so severe that he could barely get through it; yet he would not allow himself a clerk, being economical in that one thing only. It was a saying in the place that not a speck of dust could be blown on to the estate by the wind, or a straw blown off, without it being duly entered in the master's books.

      Cecil's idea was to excel in all things. Some had been famous for shorthorns before him, others for sheep, and others again for wheat. He would be celebrated for all. His shorthorns should fetch fabulous prices; his sheep should be known all over the world; his wheat should be the crop of the season. In this way he invested his capital in the soil with a thoroughness unsurpassed. As if to prove that he was right, the success of his enterprise seemed from the first assured. His crops of wheat, in which he especially put faith, and which he grew year after year upon the same land, totally ignoring the ancient rotations, were the wonder of the neighbourhood. Men came from far and near to see them. Such was the effect of draining, turning up the subsoil, continual ploughing, and the consequent atmospheric action upon the exposed earth, and of liberal manure, that here stood such crops of wheat as had never previously been seen. These he sold, as they stood, by auction; and no sooner had the purchasers cleared the ground than the engines went to work again, tearing up the earth. His meadow lands were irrigated by the centrifugal pump, and yielded three crops instead of one. His shorthorns began to get known—for he spared no expense upon them—and already one or two profitable sales had been held. His sheep prospered; there was not so much noise made about them, but, perhaps, they really paid better than anything.

      Meantime, Cecil kept open house, with wine and refreshments, and even beds for everybody who chose to come and inspect his place. Nothing gave him such delight as to conduct visitors over the estate and to enter into minute details of his system. As for the neighbouring farmers they were only too welcome. These things became noised abroad, and people arrived from strange and far-off places, and were shown over this Pioneer's Farm, as Cecil loved to call it. His example was triumphantly quoted by every one who spoke on agricultural progress. Cecil himself was the life and soul of the farmers' club in the adjacent market town. It was not so much the speeches he made as his manner. His enthusiasm was contagious. If a scheme was started, if an experiment was suggested, Cecil's cheque-book came out directly, and the thing was set on foot without delay. His easy, elastic step, his bright eye, his warm, hearty handshake, seemed to electrify people—to put some of his own spirit into them. The circle of his influence was ever increasing—the very oldest fogeys, who had prophesied every kind of failure, were being gradually won over.

      Cecil himself was transcendently happy in his work; his mind was in it; no exertion, no care or trouble, was too much. He worked harder than any navvy, and never felt fatigue. People said of him—'What a wonderful man!' He was so genuine, so earnest, so thorough, men could not choose but believe in him. The sun shone brightly, the crops ripened, the hum of the threshing-machine droned on the wind—all was life and happiness. In the summer evenings pleasant groups met upon the lawn; the song, the jest went round; now and then an informal dance, arranged with much laughter, whiled away the merry hours till the stars appeared above the trees and the dew descended.

      Yet to-day, as the two leaned over the little gate in the plantation and looked down upon the reapers, the deep groove which continual thought causes was all too visible on Cecil's forehead. He explained to the officer how his difficulties had come about. His first years upon the farm or estate—it was really rather an estate than a farm—had been fairly prosperous, notwithstanding the immense outlay of capital. A good percentage, in some cases a high-rate of percentage, had been returned upon the money put into the soil. The seasons were good, the crops large and superabundant. Men's minds were full of confidence, they bought freely, and were launching out in all directions.

      They wanted good shorthorn cattle—he sold them cattle; they wanted sheep—he sold them sheep. They wanted wheat, and he sold them the standing crops, took the money, and so cleared his profit and saved himself trouble. It was, in fact, a period of inflation. Like stocks and shares, everything was going up; everybody hastening to get rich. Shorthorns with a strain of blue blood fetched fancy prices; corn crops ruled high; every single thing sold well. The dry seasons suited the soil of the estate, and the machinery he had purchased was rapidly repaying its first cost in the saving of labour. His whole system was succeeding, and he saw his way to realise his cent. per cent.

      But by degrees the dream faded. He attributed it in the first place to the stagnation, the almost extinction, of the iron trade, the blowing out of furnaces, and the consequent cessation of the demand for the best class of food on the part of thousands of operatives and mechanics, who had hitherto been the farmers' best customers. They would have the best of everything when their wages were high; as their wages declined their purchases declined. In a brief period, far briefer than would be imagined, this shrinking of demand reacted upon agriculture. The English farmer made his profit upon superior articles—the cheaper class came from abroad so copiously that he could not compete against so vast a supply.

      When the demand for high-class products fell, the English farmer felt it directly. Cecil considered that it was the dire distress in the manufacturing districts, the stagnation of trade and commerce and the great failures in business centres, that were the chief causes of low prices and falling agricultural markets. The rise of labour was but a trifling item. He had always paid good wages to good men, and always meant to. The succession of wet seasons was more serious, of course; it lowered the actual yield, and increased the cost of procuring the yield; but as his lands were well drained, and had been kept clean he believed he could have withstood the seasons for awhile.

      The one heavy cloud that overhung agriculture, in his opinion was the extraordinary and almost world-spread depression of trade, and his argument was very simple. When men prospered they bought freely, indulged in luxurious living, kept horses, servants, gave parties, and consumed indirectly large quantities of food. As they made fortunes they bought estates and lived half the year like country gentlemen—that competition sent up the price of land. The converse was equally true. In times of pressure households were reduced, servants dismissed, horses sold, carriages suppressed. Rich and poor acted alike in different degrees but as the working population was so much more numerous it was through the low wages of the working population in cities and manufacturing districts that the farmers suffered most.

      It was a period of depression—there was no confidence, no speculation. For instance a year or two since the crop of standing wheat then growing on the very field before their eyes was sold by auction, and several lots brought from 16l. to 18l. per acre. This year the same wheat would not fetch 8l. per acre; and, not satisfied with that price, he had determined to reap and thresh it himself. It was the same with the shorthorns, with the hay, and indeed with everything except sheep, which had been a mainstay and support to him.

      'Yet even now,' concluded Cecil, shutting his pocket-book, 'I feel convinced that my plan and my system will be a success. I can see that I committed one great mistake—I made all my improvements at once, laid out all my capital, and crippled my self. I should have done one thing at a time. I should, as it were, have grown my improvements—one this year, one next. As it was, I denuded myself of capital. Had the times continued favourable it would not have mattered, as my income would have been large. But the times became adverse before I was firmly settled, and, to be plain, I can but just keep things going without a loan—dear Bella will not be able to go to

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