Capital 67 



inclosing, bringing in waste lands, &c. which it requires a 

 long lease to replace ( 1 1 ). 



The most satisfactory statement hitherto given, of the profit 

 derived from the expenditure of an adequate capital in arable 

 farming, is that furnished by George Rennie, Esq. of Phan- 

 tassie, in East Lothian. On a mixed soil of 702 English 

 acres, he states the profits at L.I, 5s. per English acre, or 

 about 14 per cent, on the capital employed. On this subject, 

 it has been well observed, that unless something commensurate 

 to their skill, capital, and industry, is made by intelligent and 

 industrious farmers, it would injure both the proprietors of 

 land, and the public. Adventurers who possess but little ca- 

 pital, would occupy the farms, deceiving the proprietor, by 

 the offer of higher rents than could be derived from the em- 

 ployment of insufficient capitals. The soil would consequent- 

 ly be inadequately cultivated, and the landlords, as well as the 

 public, would sustain great loss( 14 ). 



Mr Mondez of Frasnes, near Charleroi, who was consider- 

 ed to be the most intelligent farmer in the Netherlands, drew 

 up, for the Author, an estimate of the capital necessary for the 

 erection of a house, and the cultivation of a farm of 250 acres 

 of arable land, according to the price of the different articles 

 in Flanders, in the year 1815. The cost of the house and 

 outbuildings he estimated at 60,440 French francs, or L.2518 

 sterling. So large a sum is required for that purpose, ow- 

 ing to the large barns, and other extensive offices required 

 by a farmer in Flanders, where the live-stock, and even the 

 sheep are housed. 



In regard to the expense of live-stock, the instruments of 

 husbandry, and other articles necessary for the actual culture 

 of the farm, they would require, in all, 37,476 francs, or 

 L.I 544 : 9 : 4 sterling ( l3 ). The two united amount to a 

 large sum, for a farmer to lay out in a part of the continent, 

 where money is not abundant, where property is not well se- 

 cured, (being much exposed to foreign invasion), and where 

 the prices of the articles required, are not so high as in Eng- 

 land. The capital expended on farms in Flanders is often, 

 howeverj proportionally lower ; but then, Mr Mondez observes, 

 the farmer in general fails, unless he is assisted by an industri- 

 ous family, or is fortunate in his harvests. 



SECT. II. Regular Accounts. 

 THE keeping of regular accounts is not so common among 



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