CAPITAL IN FARMING. 3 



large, that it ought to pay, no matter how little it is worth. 

 A small amount of money up in New Hampshire will buy a 

 large amount of land. Many a farm in New England is not 

 worth $1,200 ; and the wonder is, how, upon so little capital, 

 large families are maintained. The small returns of a farm 

 that, never fertile, yet, for generations to come, will furnish 

 a humble support to the husbandman content to receive it 

 as an inheritance, returns more than commensurate to the 

 slight value of the land, by no means necessarily discourage 

 investment; and to the possessor of a little means, who 

 would be unencumbered with the cares which attend even a 

 successful strife for wealth, the farms of Northern New 

 Hampshire offer a snug retreat. 



But not in all parts of New England does this stationary con- 

 dition of agriculture exist. Sections such as our own county 

 represents, from their nearness to large cities, receive benefit 

 from the very causes that work disadvantage to remoter re- 

 gions. Here, farm-land is constantly rising in value from 

 the enlargement of city limits, not to mention enroachments 

 upon our domains by city wealth in the form of country 

 houses, or elegant villas for summer residence. Bearing in 

 mind, then, that the small amount of capital which many of 

 our farms represent is in itself sufficient reason for small 

 returns, let us consider what, if any, are the real drawbacks 

 to the pursuit of agriculture in New England. 



One of the first questions that suggests itself is, Will not 

 the South and West pour in upon our markets out of the 

 abundance of their agricultural resources ? 



For a time the very poverty of the frontier settler operates 

 in his favor. Content with almost anything in the way of 

 luxuries which older sections, from the variety of their in- 

 dustries, can furnish in exchange for his raw material, he 

 bears the disadvantage which he cannot overcome, and 

 brings into play almost as disturbing an element as the 

 cheap labor resulting from the opposite extreme of over- 

 population. But as year after year the tide of immigration 

 pours in upon the frontier, bringing with it other" industries 

 by which the wants of civilization are supplied and home 

 markets furnished to the agricultural community, this source 

 of danger to our interest is lessened. 



