FARM CAPITAL. 65 



the volume of the " Royal Agricultural Society's Journal " 

 for 1878, several typical farms are considered. A dairy 

 farm of 200 acres, at a rent of 50s. per acre, about one- 

 sixth part being arable, is declared to require a capital of 

 12 an acre; a mixed arable and pasture farm of 500 

 acres, at 30s. an acre, is also assumed to require a capital 

 of 12 an acre ; a mixed and partly upland farm of 1000 

 acres, at 20s. an acre, requires a capital of 10 an acre ; 

 and a grazing farm of 300 acres, at a rent of 3 3s. an 

 acre, is supposed to need a capital of ~L5 an acre. It is 

 plain that the temptation will always be to take a farm 

 larger than the capital at command can manage. That is 

 the temptation, and the hope of good luck makes it often 

 too strong to be resisted. Kepentance, however, generally 

 follows. 



We might conclude our remarks on this subject, as 

 we did many years ago, by drawing a comparison between 

 two men of equal means, one taking a farm greater than 

 he had capital for, and the other taking one well within 

 his means, showing that, apart from the inevitable tardi- 

 ness of all the operations of agriculture by the former, 

 and the evil effects of that, the probability is, that the 

 greater surface would be productive only of greater cost 

 in the shape of rent and labour, not of a greater gross 

 produce ; but indeed, the smaller returns from a given 

 farm capital, when spread insufficiently upon the land, are 

 illustrated by all agricultural experience. 



