In order to arrive as nearly as possible at the true state of the case, in so far as Scottish farming is concerned, we put ourselves into communication with two gentlemen, of the highest eminence in their profession. We need scarcely tell our countrymen on this side of the Border, that it would be difficult to find better testimony on such a subject than that of Messrs Watson of Keillor, and Dudgeon of Spylaw; and we apprehend, moreover, that many English agriculturists are fully acquainted with their character and high reputation. Through their kindness we have been furnished with the statistics of farms situated in the fertile grain-growing districts of Forfar and Roxburgh; and the calculations as to the yield, prices, and expenses, were made from their own books. The rent set down is that which is usual in the district for land of the best description, and the tenant's capital is named at an amount which might enable him to develop the full capabilities of the soil. The estimates have been most carefully framed, with the view of avoiding every kind of exaggeration; and they have been gone over by Mr Stephens, who attests their general accuracy. They are as follows:—
No. I.
Returns of Produce from a 500 acre farm in Strathmore, county of Forfar, on a five-shift rotation of crops, with an improved stock of cattle and sheep, on an average of years previous to free trade in corn, cattle, &c.; and
Comparative Statement of what may be calculated upon as the returns from the same farm under the present legislative measures affecting British agriculture.
Rent of the farm, as fixed for 19 years, assuming former average price of corn and cattle, &c.,
£800 0 0 Invested capital of £6 per acre at entry, £3000. Interest upon this sum, at rate of 10 per cent,
300 0 0 Floating capital of £4 per acre, £2000. Interest thereon, 5 per cent,
100 0 0 Expenses of management, wages, tradesmen's accounts, insurances, grass seeds, &c., at the rate of 20s. per acre per annum,
500 0 0 Annual loss by casualties on live stock by disease and accidents,
100 0 0 Public burdens leviable upon the farmer, including poor-rates,
50 0 0 Sum chargeable against the farm annually,
£1850 0 0 To meet this sum there is the produce of 200 acres of corn crop, and the profits on live stock, (the whole grass and green crop being consumed on the farm.)
Bushels. 100 acres of oats, producing 48 bushels per acre, 4800 Off for servants, horses, seed, &c. 2400 Leaves disposable oats, 2400 at 3s. £360 0 0 40 acres of spring wheat, producing 32 bushels per acre, 1280 Off for seed, 160 Disposable wheat, 1120 at 7s. 392 0 0 60 acres of barley, producing 42 bush. per acre, 2520 Off for seed and horses, &c., 500 Disposable barley, 2020 at 4s. 404 0 0 £1156 0 0 Profits from live stock, fed upon 200 acres grass, and 100 acres green crop, 800 0 0 Total returns, £1956 0 0 1956 0 0 Leaving annually to the farmer, for his skill and industry, over interest of capital employed, a sum of £106 0 0 Convert the above disposable produce into money, at the present prices, or rather at what may be fairly calculated upon for future seasons, under a system of free trade, and the following is the result:—
2400 bushels of oats, at 2s. per bushel, £240 0 0 1120 bushels of wheat, at 5s. per ditto, 280 0 0 2020 bushels of barley, at 2s. 9d. per ditto, 277 15 0 £797 15 0 Live stock, (as above, £800,) less 20 per cent on former prices, leaves 640 0 0 Net return, £1437 15 0 Sum chargeable as above against the farm, 1850 0 0 Leaving the farmer minus, for rent, capital, and expenses of management, £412 5 0 412 5 0 Total loss annually incurred by difference in price occasioned by free trade, £518 5 0 HUGH WATSON,
Keillor, 1st December 1849.
| Rent of the farm, as fixed for 19 years, assuming former average price of corn and cattle, &c., | £800 | 0 | 0 |
| Invested capital of £6 per acre at entry, £3000. Interest upon this sum, at rate of 10 per cent, | 300 | 0 | 0 |
| Floating capital of £4 per acre, £2000. Interest thereon, 5 per cent, | 100 | 0 | 0 |
| Expenses of management, wages, tradesmen's accounts, insurances, grass seeds, &c., at the rate of 20s. per acre per annum, | 500 | 0 | 0 |
| Annual loss by casualties on live stock by disease and accidents, | 100 | 0 | 0 |
| Public burdens leviable upon the farmer, including poor-rates, | 50 | 0 | 0 |
| Sum chargeable against the farm annually, | £1850 | 0 | 0 |
| Bushels. | ||||||||
| 100 acres of oats, producing 48 bushels per acre, | 4800 | |||||||
| Off for servants, horses, seed, &c. | 2400 | |||||||
| Leaves disposable oats, | 2400 | at 3s. | £360 | 0 | 0 | |||
| 40 acres of spring wheat, producing 32 bushels per acre, | 1280 | |||||||
| Off for seed, | 160 | |||||||
| Disposable wheat, | 1120 | at 7s. | 392 | 0 | 0 | |||
| 60 acres of barley, producing 42 bush. per acre, | 2520 | |||||||
| Off for seed and horses, &c., | 500 | |||||||
| Disposable barley, | 2020 | at 4s. | 404 | 0 | 0 | |||
| £1156 | 0 | 0 | ||||||
| Profits from live stock, fed upon 200 acres grass, and 100 acres green crop, | 800 | 0 | 0 | |||||
| Total returns, | £1956 | 0 | 0 | 1956 | 0 | 0 | ||
| Leaving annually to the farmer, for his skill and industry, over interest of capital employed, a sum of | £106 | 0 | 0 |
| 2400 bushels of oats, at 2s. per bushel, | £240 | 0 | 0 | |||
| 1120 bushels of wheat, at 5s. per ditto, | 280 | 0 | 0 | |||
| 2020 bushels of barley, at 2s. 9d. per ditto, | 277 | 15 | 0 | |||
| £797 | 15 | 0 | ||||
| Live stock, (as above, £800,) less 20 per cent on former prices, leaves | 640 | 0 | 0 | |||
| Net return, | £1437 | 15 | 0 | |||
| Sum chargeable as above against the farm, | 1850 | 0 | 0 | |||
| Leaving the farmer minus, for rent, capital, and expenses of management, | £412 | 5 | 0 | 412 | 5 | 0 |
| Total loss annually incurred by difference in price occasioned by free trade, | £518 | 5 | 0 |
No. II.
Statement of the average Produce of a farm in a full state of productiveness,
managed agreeably to the five-shift course, as usually
adopted in the south-eastern Borders of Scotland, where the returns
of stock form a very considerable means of remuneration, and the
price of which, of course, is a material element in the calculation
as to the rent to be given.
Thus, then, assuming the rent of 500 acres of useful land for this purpose—upon the estimate of the price of grain and stock, as warranted by their value previous to the introduction of the new corn law and tariff—to be, | £800 | 0 | 0 | |||
| This farm has been put into good productive condition by means of the tenant's capital, at a cost in draining and lime, (sunk,) £2500. It is well known that nearly twice this amount has in many instances been thus expended; but we assume this as a fair average on a farm so rented. | ||||||
Interest upon which sum, to enable him to recover the same during an ordinary lease of from nineteen to twenty-one years, at 10 per cent, | £250 | 0 | 0 | |||
Interest on capital invested in stock, &c., yielding an annual return of £1500, at 5 per cent, | 75 | 0 | 0 | |||
Expenses of management—wages, tradesmen's accounts, extra manures, &c., | 550 | 0 | 0 | |||
Casualties, loss on stock, &c., | 50 | 0 | 0 | |||
Public and Parish Burdens, | 45 | 0 | 0 | |||
| £970 | 0 | 0 | ||||
| £1770 | 0 | 0 |
To meet this sum, there is the produce of 200 acres of grain, in each
year, distributed as follows:—