230 WHEAT PRODUCTION IN NEW ZEALAND 



taken of every element of cost. The previous history of 

 the land and the nature of the soil did not in any way 

 operate to cause extraordinary conditions and thus to 

 nullify the experiment. A field of 345 acres was taken, 

 and of this amount 12 acres were cut for hay, and 24 

 acres of special varieties were harvested by stripping and 

 winnowing. We are thus concerned with the remaining 

 309 acres. The method adopted is commendable, because 

 each item of cost was calculated as the operation was 

 performed, and there was thus no uncertainty about the 

 result. The total cost of the crop per acre was 3 12s., 

 deducting the cost of pressing and carting the straw. 

 Thus the cost is comparable with conditions in New 

 Zealand. The total yield was 7,171 bushels of "firsts" 

 and 683 bushels of "seconds," which may be reduced 

 to about 400 bushels because their value is assumed 

 to be about two-thirds that of the firsts.* We may thus 

 place the yield at about 7,500 bushels, or an average 

 yield per acre of 26 bushels. The actual cost per 

 bushel was thus 2s. 9Jd. The only important con- 

 sideration which rendered this figure slightly abnormal 

 was the fact that harvesting operations were carried on 

 at a time of high prices due to war increases. A table 

 of normal costs is also shown, and the cost of production 

 per bushel comes to 2s. 7Jd. With wheat selling at 

 3s. 4d. for "firsts/' and 2s. 9d. for "seconds," a profit 

 of about 1 per acre is possible with this cost. The 

 article concludes, "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." 



Now, it is not claimed that the average cost of pro- 



*As a matter of fact the " firsts " were sold at 4/9, and the 

 "seconds" at 4/-. 



