ADDRESS. 21 



So much for the idea of a system of accounts in farming, and now lot 

 lis briefly consider the question of capital. What is a banner to do, 

 who lias not got it of his own, and cannot or does not dare to borrow 

 it? Well, this is a fair question, and deserves an answer equally so. 

 You shall have it. He must farm at a great disadvantage all his life, 

 or until he acquires it, as compared with one who has it. Is this hard 

 and discourao;inf>: ? 



If it seems so, recollect if you please, that no one is to blame. It 

 is true, and we arc bound to state facts as we find tliem. Farming in 

 this particular, does not differ essentially from any other business. 

 Here at least, the conditions are the same ; and if it seems discoura- 

 ging to a young man just starting in life, to be told that capital is essen- 

 tial to success, let him bear in mind, that it is not so in farming only. 

 What would you think of a man who should hire a store, and buy on 

 credit a large stock of goods, and start a largo business, without any 

 capital? You say at once he would fail, and whether you say so or not, 

 he would. There would hardly be one chance in a thousand for him, 

 and when the crash came, the unanimity with which the community 

 would decide that he was a fool, if not something worse, would be such 

 as is seldom seen, outside of a political caucus, or a parish sewing 

 circle. 



Is it then reasonable to expect that a young man can buy a fjirm, 

 and stock it, and carry it on. without money ? Is there any guardian 

 angel who presides over the destinies of agriculturalists, and exempts 

 them from the common lot of humanity ? Are they not subject to the 

 same laws, based upon principles as simple and immutable as that two 

 and two make four, that govern other business men ? Let us see. A 

 young man buys a farm, and owes for the whole of it, agreeing to pay 

 interest, and a certain share of the principal, each year. He perhaps 

 has money enough barely to stock it. The farm is in good condition, 

 and produces for him full crops, but he has his family expenses to pro- 

 vide for, and his payments, and these must all come out of his products. 

 He tugs and sweats, and studies to save, but his want of money is ever 

 pressing. He is obliged to sell a portion of his hay to raise money. 

 Then he reduces his cattle in number, to make up further possible defi- 

 ciencies, and because he has not hay for them, and perhaps finally 

 makes up in full the needed sum, by selling wood and timber which is 

 growing, and increasing rapidly in value. 



In the spring he finds he has lived through the year, and met his 

 payments, but he also finds that selling his hay, stock, and growing 

 timber, was equivalent to paying a ruinous rate of interest for his 

 money. He finds that could he have retained his hay and cattle, and 

 converted the former into beef and milk, he would have netted nearly 

 twice as much for it, as he actually received, and he would have had 

 besides, a plentiful stock of manure, with which to keep up the pro- 

 ductive capacity of his farm. He also estimates that the rapidly grow- 

 ing timber, cut to meet his payments, would have nearly doubled its 



