10 May, 1!»16. | Cost of Production of Field Crops. 307 



Tables 3 and 4 and balance-sheet set out the cost and the returns from 

 this field with commodities at their normal level of values. 



The seeding of this paddock was carried out at a time when horse- 

 feed was at famine prices, and at harvest the prices both of fodder and 

 straw were considerably beyond normal values. Consequently the tables 

 have been drawn to show what would be the cost of production under 

 average conditions. 



The cost of horses has been allowed for at 2s. per day, which is the 

 normal cost of maintaining a working horse at the farm, and allowing' 

 for depreciation, interest on outlay, and idle days. 



Labour has been charged at the current rates prevailing in the dis- 

 trict, namely, 7s. to 8s. per day at seed-time, and 9s. to 10s. per day 

 at harvest. 



Standard cornsacks and binder twine have been reckoned at the 

 average price ruling for the past few years. 



Wheat has been taken at its normal value, namely, 3s. 4d. per bushel 

 for f.a.q. quality and 2s. 9d. per bushel for seconds. 



Tlie past season, on which these roturns have been based, although a 

 yield of 27 bushels per acre was realized, cannot be considered excep- 

 tionally good, because of the fact that the rainfall for the whole year 

 was 15.55 inches, or 5 inches below the average; and the fall during the 

 growing period of the crop, namely, May to November, was 10.84 inches, 

 as compared with the average fall during the same period for 42 years of 

 12.10 inches. 



It will be seen that a wheat farmer who exercises ordinary care and 

 economy and who attends consistently to the thorough cultivation of his 

 soil, liberal manuring of the crop, and judicious selection of his seed, can 

 assure himself of a good return on his capital and industry in a normal 

 season . 



