EXPENSES. £ S. D. _Preparing the soil._——Two ploughings and a raking, at 2s. 3-1/3d. per acre 28 3 2 _Sowing, drilling and harrowing_, at 3·38d. per acre 3 10 5 _Seed._——238 bushels of seed corn, at £8,16s. per ton 57 4 0 _Harvest._—— Reaping and stacking, at 4s. 2·68d. per acre 52 16 0 _Thrashing._——4400 bushels (120 tons) of grain, at 17s. 6d. per ton 105 12 0 _Sacks._——1500, at 5·024d. each 26 8 0 _Transport._——To granary, port or station, 120 tons at 8s. 8d. per ton 52 16 0 _Rent._——247 acres, at 8s. 6·6d. per acre (approx.) 105 12 0 _General expenses._——Repairs, tools, dilapidations, wages, hire of machinery, etc. 52 16 0 ---------------- Total £484 17 7 ================ RECEIPTS. Sale of 120 tons (4400 bushels) of wheat, at £6, 3s. £ S. D. 2-1/2d. per ton (3s. 4·28d. per bushel)[48] 739 4 0 Expenses of growth and preparation 484 17 7 ---------------- Settler’s net profit £254 7 5 ================ [Footnote 48: At the present price (22 francs per 100 kilos, or about £8, 16s. per ton) the sale would produce £1056, a net profit of £571. This is unusual.] In short, a profit of about one pound per acre. The above figures relate to the property known as “La Vizcaina,” in the Department of Bolivar; it consists of 123,800 acres of agricultural land, or 183 square miles, and is the largest agricultural farm in the Republic belonging to a single owner or held by a single tenant. It must be mentioned that, on the whole, the land is high; it has never been invaded by locusts; the depth of the mould or upper soil is considerable, and the property has two railway stations built upon it and a third about 2-1/2 miles distant, which facilitate the despatch of the harvests. The above figures do not give a precise idea of the farmer’s situation, since agricultural land is let for four years, and in four years, six harvests may be obtained (three of wheat and three of maize), which sensibly diminishes the cost of working and increases the profits in proportion.