22 



RECAPITULATION OF PROFITS PER CENT. ON A 

 CAPITAL OF £3,500, 



As shoivn in SchediUes 1 uiid I, folios 19, 21. 



Average per 

 Amount. cent, on 23 



years. 

 £ «. d. £ s. d. 



Twenty years at £>> 2s. 7d. per cent., 



from 1850 to 1870, as per folio 19 l&l 11 8 

 Tliree years at £19 9s. lOd. per cent. 



for 187 1-£-3, as per folio 21 ... 58 9 6 



221 ] 2 ... 9 12 21 



Add increased amount in valuation of 



inventory as per folio 15, being 



the net accumulation of capital 



between 1850 and 1873, Avhicli, 



per annum, on the average of 23 



3^ears' equals ... ... ... 52 S 1] ... L 9 11^ 



Total per-centage realised at prices lew- 

 cereals, viz. : Wheat, 7s. O^d. per 



bus. ; barley, is. 7^d. ; oats and 



dredge, 3s. 3|d. ; beans or pulse, 



5s. 6id. ; and for hay, root and 



green crops, viz. : Mutton, 8jd. 



per lb, ; beef, 75d. ; pork and 



bacon pigs, 5|d. j poultry, 8d. ; 



wool. Is. 4|d ... 11 2 Ti 



This return percentage was obtained through the amount of capital 

 employed being sufficient. The products of the farm realised remunera- 

 tive prices during a series of years, and the balance in favour thereof 

 pro\es that the production of cereals and butchers' meat, when sold at 

 the prices quoted, constitute profitable farming in this country. 



We will show in the appendix which follows, the marginal rate at 

 which the various agricultural products may be sold, so that a profit in 

 farming may be secured. 



In considering the conclusion arrived at, or rather defined, in the 

 foregoing statements; it will be necessary to say that the results have 



