Suppose That Of The Wool Money I Have Only Spent 62 Pounds 10s. Per Annum, I.E. Ten Per Cent On The Original Outlay, And That I Have Laid By The Remainder Of The Wool Money.

I shall have from the wool money a surplus of 630 pounds (some of which should have been making ten per cent interest for some time); that is to say, my total receipts for the sheep should be at the least 1530 pounds.

Say that the capital had only doubled itself in the seven years, the investment could not be considered a bad one. The above is a bona-fide statement of one of the commonest methods of investing money in sheep. I cannot think from all I have heard that sheep will be lower than 10s. a head, still some place the minimum value as low as 6s. {3}

The question arises, What is to be done with one's money when the term is out? I cannot answer; yet surely the colony cannot be quite used up in seven years, and one can hardly suppose but that, even in that advanced state of the settlement, means will not be found of investing a few thousand pounds to advantage.

The general recommendation which I receive is to buy the goodwill of a run; this cannot be done under about 100 pounds for every thousand acres. Thus, a run of 20,000 acres will be worth 2000 pounds. Still, if a man has sufficient capital to stock it well at once, it will pay him, even at this price.

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