22 FARMERS' BULLETIN. 



Nonresidence upon a cacao plantation is an equivalent term for ulti- 

 mate failure. Every operation demands the exercise of the obervant eye 

 and the directing hand of a master, but there is no field of horticultural 

 effort that offers more assured reward, or that will more richly repay 

 close study and the application of methods wrought out as the sequence 

 of those studies. 



ESTIMATED COST AND REVENUES DERIVED FROM A 

 CACAO PLANTATION. 



Estimates of expenses in establishing a cacao farm in the Visayas and 

 profits after the fifth year. The size of the farm selected is 16 hectares, 

 the amount of land prescribed by Congress of a single public land entry. 

 The cost of procuring such a tract of land is as yet undetermined and can 

 not be reckoned in the following tables. The prices of the crop are esti- 

 mated at 48 cents per kilo, which is the current price for the best grades 

 of cacao in the world's markets. The yield per tree is given as 2 catties, 

 or 1.25 kilos, a fair and conservative estimate for a good tree, with little 

 or no cultivation. The prices for unskilled labor are 25 per cent in ad- 

 vance of the farm hand in the Visayan islands. No' provision is made for 

 management or supervision, as the owner will, it is assumed, act as 

 manager. 



Charges to capital account are given for the second, third, and fourth 

 year, but no current expenses are given, for other crops are to defray op- 

 erating expenses until the cacao trees begin to bear. No estimate of resi- 

 dence is given. All accounts are in United States currency. 



Expendable tJie first year. 

 Capital account : 



Clearing of average brash and timber land, at $15 per 



hectare $340.00 



Four carabaos, plows, harrows, cultivators, carts, etc 550.00 



Breaking and preparing land, at $5 per hectare 80. 00 



Opening main drainage canals, at $6 per hectare. _ 96. 00 



Tool house and storeroom 200.00 



Purchase and planting 10,000 abacd stools, at 2 cents 



each 200.00 



Seed purchase, rearing and planting 12,000 cacao, at 3 



cents each __ .__ 360.00 



Contingent and incidental 174. 00 



Total __ _ $2,000.00 



year. 

 Interest on investment _________________________________ $200. 00 



Depreciation on tools, buildings, and animals (20 per 



cent of cost) _ 150.00 



350. 00 



Third ;/<>. r. \J 



Interest on investment ____________________________ $200.00 



Depreciation as above ________ 150.00 



-- ;jo<). oo 



