37 



duction, and consequently an improved condition of the estate. During- 

 the twenty years of average^ the 88 acres, 2 roods, 'Z4< perches, of cereals 

 grown per annum yielded a profit of £4 17s. 5M. per acre, and the 110 

 acres of hay, root, and green crops, occasioned a loss of £2 18s. 8d. per 

 acre, being 2^d. per lb. on the total quantity of meat produced, and the 

 consequent loss could only be redeemed by charging the cereal crop with 

 Is. 8d. per bushel on the total quantity produced. Under such results 

 the comparative standard prices for rent, and those realised were, for 

 cereals, viz. : 



Meat Piiodlctiox. 



The inference from the foregoing is, that during the }'ears of pro- 

 tection by Acts of Parliament, the realised prices for cereals on the 

 farm in question for twenty years exceeded the standard, and more than 

 covered the loss incurred in the production of meat (as shown in diagram, 

 folio 10). The realised price of meat, however, was below its cost price, 

 as shown in the accounts of the Home Farm. ^Moreover, these deductions, 

 though not applicable to all cases in the kiugdom, tend to dispel the 

 notion that because a standard of prices may have been arrived at and 

 acted upon for half a century, it does not follow that they are relatively 

 correct. In addition, the facts derived from tlie foregoing accounts 

 prove the correctness of the old rule that to grow cereals profitably you 

 must produce meat and manure ; and they suggest that the average yield 

 of cereals in this country (which for the crop of 1884 is estimated at : 

 Wheat, 28jijth bushels; barley, 37|th; oats, 47 /^th ; and beans, 31yVth) 



