Book V. CAPITAL OF THE FARMER. 781 



farmer of Roxburghshire, renting about 28d<) acres of arable land, and distinguished for his skill in agri- 

 culture, who takes young men under him as apprentices, and these, instead of receiving wages, have 

 uniformly paid him ten pounds each. Some of them remain with him two years, but the greater number 

 only one. They eat in his kitchen, where they have always plenty of plain wholesome food. He takes 

 none who are above living in that way, or who will not put their hands to every thing going forward on 

 the farm. He has sometimes been offered ten times the above sum, to take in young gentlemen to eat 

 and associate with his own family ; but that he has uniformly declined. These young men have an 

 opportunity of attending to every operation of husbandry, as practised on Walker's farm; and are taught 

 to hold the plough, to sow, to build stacks, &c. 



Sect. 1 1. Capital required by the Farmer. 



4820. The importance of capital in every branch of industi-y is universally acknow- 

 ledged, and in none is it more requisite than in farming. When there is any deficiency 

 in that important particular, the farmer cannot derive an adequate profit from his exer- 

 tions, as he w^ould necessarily be frequently obliged to dispose of his crops for less than 

 their value, to procure ready money ; and it would restrain him from making advan- 

 tageous purchases, when even the most favourable opportunities occurred. An indus- 

 trious, frugal, and intelligent farmer, who is punctual in his payments, and hence in 

 good credit, will strive with many diflRculties, and get on with less money than a man 

 of a different character. But if he has not suflScient live stock to work his lands in 

 the best manner, as well as to raise a suflRcient quantity of manure ; nor money to 

 purchase the articles required for the farm; he must, under ordinary circumstances, 

 live in a state of penury and hard labour ; and the first unfavourable season, or other 

 incidental misfortime, will probably sink him under the weight of his accumulated 

 burdens. Farmers are too generally disposed to engage in larger farms than they have 

 capital to stock and cultivate. This is a great error ; for it makes many a person 

 poor upon a large farm, who might live in comfort and acquire property upon one of 

 less extent. No tenant can be secure without a surplus at command, not only for 

 defraying the common expenses of labour, but those which may happen from any un- 

 expected circumstance. When a farmer farms within his capital, he is enabled to cm- 

 brace every favourable opportunity of buying when prices are low, and of selling when 

 they are high. 



4821. The amount of capital required must depend upon a variety of circumstances ; 

 as whether it is necessary for the farmer to expend any sum in the erection, or in the 

 repair, of his farm-house and offices ; what sum an in-coming tenant has to pay to his 

 predecessor, for the straw of the crop, the dung left upon the farm, and other articles 

 of similar nature ; the condition of the farm at the commencement of the lease, and 

 whether any sums must be laid out in drainage, enclosure, irrigation, levelling ridges, 

 &c. ; whether it is necessary to purchase lime, or other extraneous manures, and to 

 what extent ; on the period of entry, and the time at which the rent becomes payable, 

 as this is sometimes exacted before there is any return from the lands, out of the actual 

 produce of which it ought to be paid ; and, lastly, on its being a grazing or an arable 

 farm, or a mixture of both. 



4822. In pasture districts, the common mode of estimating the amount of capital necessary is according 

 to the amount of the rent ; and it is calculated that, in ordinary pastures, every farmer ought to have at 

 his command from three to five times the rent he has agreed to pay. But in the more fertile grazing 

 districts, carrying stock worth from 20/. to 30/. and even upwards, per acre (as is the case in many 

 parts of England), five rents are evidently insufficient. "When prices are high, ten rents will frequently 

 be required by those who breed superior stock, and enter with spirit into that new field of speculation 

 and enterprise. 



4823. The capital required by an arable farmer varies, according to circumstances, from 51. to 10/. or even 

 15/. per acre. An ignorant, timid, and penurious farmer lays out the least sum he can possibly contrive ; 

 and consequently he obtains the smallest produce or profit from his farm. The profit, however, will 

 always increase, when accompanied by spirit and industry, in proportion to the capital employed, if 

 judiciously expended. At the same time, attention and economy cannot be dispensed with. It is 

 ill-judged to purchase a horse at forty guineas, if one worth thirty can execute the labour of the farm ; 

 or to lay out sums unnecessarily upon expensive harness, loaded with useless ornaments. Prudent far- 

 mers also, who have not a large capital at command, when they commence business, often purchase 

 some horses still fit for labour, though past their prime, and some breeding mares, or colts; and in 

 five or six years, they are fully supplied with good stock, and can sometimes sell their old horses 

 without much loss. In every case, such shifts must be resorted to, where there is any deficiency 

 of capital. 



4824. J mixture of arable and grass farming is, on the whole, the most profitable method of farming. 

 Independently of the advantages to be derived from the alternate husbandry (which are always consi- 

 derablcl, the chances of profit are much more numerous from a varied system than where one object is 

 exclusively followed. Where this mixed mode of farming is practised, the farmer will frequently rely 

 on the 7 urchase of lean stock, instead of breeding his own ; and derives great advantage from the 

 quickness with which capital thus employed is returned. But, in that case, much must depend upon 

 judicious felection. In general it may be said, that to stock a turnip-land arable farm, will require, at 

 this time (1830), 51. or 61. and a clay-land farm from 7/. or 8/. per acre, according to circumstances. 



4825. 1/iis capital is necessarily divided into two parts. The one is partly expended on implements, or 

 stock of d more or less perishable nature, and partly vested in the soil ; for this the farmer is entitled to 

 a certain annual gain, adequate to replace, within a given number of years, the sum thus laid out. The 

 other is employed in defraying the charges of labour, &c. as they occur throughout the year; the whole 

 of which, with the interest, should be replaced by the yearly produce. These two branches of expense on 

 a farm are the first to be attended to, both in order of time, and in magnitude of amount. 



