84 THE GREAT WAR 



of new cottages required would be lessened ; 

 whilst as to the last item (5000), this would be 

 in addition to the pensions to which most of the 

 ex-service men would be entitled. 



The receipts by the State for the expenditure 

 above-mentioned would be in the shape of pay- 

 ments by the small purchasers for the 1000 acres 

 adapted and ready for cultivation at, say, 40 an 

 acre (including cottages) ; these payments com- 

 ing to 40,000. 



There is thus a profit to the State of 8100 on 

 the 1000 acres. Besides this profit to the State 

 there would be an enormous increase in the 

 yearly revenue of the community through 

 increased production an increase amounting to 

 about 4000 a year per 1000 acres of the grass 

 land restored to cultivation. 



The annual payments by the purchasers in 

 respect of the monies advanced on their account 

 would be : 







(1) Interest on 40,000 at 4| per cent . . . 1800 



(2) Sinking fund, at 4s. 9d. per cent, to redeem the 

 advance or loan in 68 years .... 95 



1895 

 or equal to about 38s. an acre for land prepared 



