They Bought This Land Two Years Ago, And Assured Me That, Even
Though They Had Not Touched It, They Could Get For It Cent Per Cent Upon
The Price Which They Then Gave.
CHAPTER IV
Sheep on Terms, Schedule and Explanation - Investment in Sheep-run - Risk
of Disease, and Laws upon the Subject - Investment in laying down Land in
English Grass - In Farming - Journey to Oxford - Journey to the Glaciers -
Remote Settlers - Literature in the Bush - Blankets and Flies - Ascent of
the Rakaia - Camping out - Glaciers - Minerals - Parrots - Unexplored Col -
Burning the Flats - Return.
February 10, 1860. - I must confess to being fairly puzzled to know what
to do with the money you have sent me. Everyone suggests different
investments. One says buy sheep and put them out on terms. I will
explain to you what this means. I can buy a thousand ewes for 1250
pounds; these I should place in the charge of a squatter whose run is
not fully stocked (and indeed there is hardly a run in the province
fully stocked). This person would take my sheep for either three, four,
five, or more years, as we might arrange, and would allow me yearly 2s.
6d. per head in lieu of wool. This would give me 2s. 6d. as the yearly
interest on 25s. Besides this he would allow me 40 per cent per annum
of increase, half male, and half female, and of these the females would
bear increase also as soon as they had attained the age of two years;
moreover, the increase would return me 2s. 6d. per head wool money as
soon as they became sheep.
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