money spent in this way should be a sound invest- 

 ment, as it will enable him to gain much 

 experience. 



CAPITAL The amount of capital needed for a start de- 



REQUIRED. pends on many things. Are you to get a farm 

 near the railway or out at the back? What stock 

 are you going to have — the native, grade or pure 

 bred? They have all advantages and disadvan- 

 tages. Are you going to live simply and work 

 hard or are you going to live on the fat of the 

 land and pay a manager to do the work? Are you 

 going to start in a small way and work up, or on a 

 large farm and hang the expense? In any case 

 the more capital you have the better. I will try 

 and give you an idea of what I think is the irreduci- 

 ble minimum. 



Premium 



Land looo acres @ say lo/- 



Transfer and Legal expenses 



Rent (2 years) say 



Tools, fence wire, cart, etc 



Bull (pure bred) 



36 cows and calves (Native) 



28 dry cows do. 



8 trained oxen 



Three months' running expenses 



Dip for cattle ... 



;ClOO 



500 



20 



10 

 100 



60 

 360 

 200 



50 



20 



200 



^^1620 



POINTS TO 

 CONSIDER. 



The price of the land depends on its grazing 

 value and proximity to the railway and something 

 might be saved there. The need for a dip depends 

 on how near the public road the farm is, and if the 

 farm were at the end of a road and immune oxen 

 were used, it might be possible that a couple of 

 adjacent farms could put in a dip between them. 

 A further saving might be made by using a grade 

 bull instead of a pure bred bull but the calves are not 

 of so much value. 



After paying living and running expenses, the 

 return from this outlay does not amount to much 

 until the first lot of calves are two years old, when 

 the bulls may be sold oflf. If half the calves were 



u; 



