The American Cattle Trade. 
weight can be raised on the Plains between the 95th meridian 
and the Rocky Mountains, and delivered at the shipping points, 
at lower prices than they now command. 
A full description of cattle-raising in Texas and Colorado 
would prove this conclusively. But it is too long a story to 
insert here, and so much has been written upon the subject of 
late, that it is becoming quite familiar to all interested. I will 
only refer to some letters published in the London ' Spectator ' 
in March, 1877, as giving a graphic account of " Cattle Herding 
in the Great West," and add a few examples of the profits of the 
business. 
In 1858, an ordinary farmer in Tennessee, who had toiled 
there for some years and gained nothing but a living, moved to 
the central part of Texas, his possessions then being 60 cows, 
10 horses, and other effects, worth in all not over 500/. He 
engaged in stock-raising at his new location, applied all his 
gains to the increase of his business, made no special hits, and 
his estate at the time of his death, two years ago, consisted of 
50,000 acres of land and as many cattle, with other property, 
representing a total value of 120,000/. 
In 1872 five men made up a capital of 10,000/., cash, and, 
buying cheap lands in Texas, began stock-raising. They now 
own 250,000 acres, largely fenced ; they have purchased over 
100,000/. worth of stock cattle since they began, and have sold 
120,000/. worth ; their present property is estimated at 170,000/. 
clear, and thus is shown a profit of almost 200,000/. in five 
years. 
Eight years ago a young fellow went out to Colorado with 
about 400/. borrowed money. He bought stock cattle, begin- 
ning in a modest way ; has " roughed it," attending to his busi- 
ness in person, with Mexican herders to help ; and he now owns 
8000 head of cattle, is free from debt, is worth 20,000/., and 
his sales this year will amount to 6000/. Last year he sold 
four-year-olds weighing 1000 lbs., delivered on the railroad 
in Wyoming, for 5/. a head, which was rather above the 
average of the market. Next year he expects to sell three- 
year-olds, heavier and better, the first-fruits of a purchase of 
Shorthorn bulls, which he is now using exclusively, as a matter 
of demonstrated economy as well as improvement. 
Two of these may be exceptional cases, the last is not so. 
Numerous others could be given, with more or less variation of 
details, but the same general results. Twenty-five per cent, 
per annum upon the invested capital is the profit depended upon 
in this business. Manifestly, with such a state of things, the 
beef stock these herders send eastward can be sold at the shipping 
points at two-thirds the prevailing prices, and still yield a satis- 
