358 On Sheep. 



have double that number. At present they may have 

 about 3000 sheep in the settlement : though I believe 

 hardly so many. 



It is common to let out sheep here, and the usual 

 mode is, for the person who takes them, to return dou- 

 ble the number, or value, in three years — he keeping 

 the surplus, and the vi^ool. Another mode of letting 

 out sheep is, at a pound of wool, annually, a head, the 

 person taking them being responsible for their safety. 

 The latter, it is supposed, would be generally prefer- 

 red by the settlers, and that from one to two thousand 

 sheep might be distributed among them next summer. 



It is supposed that it takes six years to change a 

 flock of common sheep into Merinos. 

 Price of 1000 common ewes, - JS 2000 



Value of 1000 Merinos, at the end of six 



years, estimated at S 20, - - 20000 



Difference of value in six years, - S 18000 



The annual increase has been estimated at 500, and 

 these valued at S 1000. But this amount would be 

 gradually increased by the conversion of the common 

 sheep into Merinos, on the first year they would be 

 half bloods, — second year, three quarter bloods, &c. 

 Take therefore some medium value for the progeny, 

 say ten dollars a head. On 500 this would be S 5000. 

 The difference per annum would therefore be S 4000, 

 which in six years is % 24000. Add this to the above dif- 

 ference in value of the flock in six years, (18000) and it 

 gives an increased profit in that time of S 42000. Be- 

 sides which, the profit on the wool would also be gra- 



