til 



In any case, I think that here a capital of $1 50,000 

 would be sufficient to establish a factory equal fco 

 using 12,000 tons of beets during the season, say the 

 crop of 800 acres. The special machinery alone 

 could be bought. in foreign countries and the rest 

 made here which, in addition to the advantages 

 given to local industry, would save considerable ex- 

 penditure for packing and freight. On the other 

 hand, it would be the means of interesting our 

 builders in the undertaking. 



The machinery, buildings and immovable stock 

 would cost $100,000, and there would remain 

 $50,000 of floating capital. 



The receipts from this factory would certainly 

 be as great as in the countries above mentioned, as 

 sugar is sold as dear here, and it has been proved 

 that our beets are as rich and as good, as those of 

 countries most favored in this respect. 



The expenses of manufacture and especially 

 those for labor would b^ much higher, for the first 

 years, but this increase in the expenses would cer- 

 tainly not reach two dollars per ton of beets worked 

 up, and on the other hand, we must consider that 

 we are free from the excise duty which weighs so 

 heavily on the net cost of the sugar in these other- 

 countries, which would more than compensate the 

 difference. 



We can therefore without any fallacy, count 

 on a net profit of $4 per ton of beets, say nearly 

 $50,000 on a manufacture of 12,000 tons, whkk 

 would give a dividend of more than 30 per cent. 



