It is very rare that the most prosperous farmer, counting the value of his quick and dead stock, the interest of the money he turns, together with his own wages as a bailiff or overseer, ever does make twelve or fifteen per centum by the year on his capital.  I speak of the prosperous.  In most of the parts of England which have fallen within my observation I have rarely known a farmer, who to his own trade has not added some other employment or traffic, that, after a course of the most unremitting parsimony and labor, (such for the greater part is theirs,) and persevering in his business for a long course of years, died worth more than paid his debts, leaving his posterity to continue in nearly the same equal conflict between industry and want, in which the last predecessor, and a long line of predecessors before him, lived and died.

Observe that I speak of the generality of farmers, who have not more than from one hundred and fifty to three or four hundred acres.  There are few in this part of the country within the former or much beyond the latter extent.  Unquestionably in other places there are much larger.  But I am convinced, whatever part of England be the theatre of his operations, a farmer who cultivates twelve hundred acres, which I consider as a large farm, though I know there are larger, cannot proceed with any degree of safety and effect with a smaller capital than ten thousand pounds, and that he cannot, in the ordinary course of culture, make more upon that great capital of ten thousand pounds than twelve hundred a year.

As to the weaker capitals, an easy judgment may be formed by what very small errors they may be farther attenuated, enervated, rendered unproductive, and perhaps totally destroyed.

This constant precariousness and ultimate moderate limits of a farmer’s fortune, on the strongest capital, I press, not only on account of the hazardous speculations of the times, but because the excellent and most useful works of my friend, Mr. Arthur Young, tend to propagate that error (such I am very certain it is) of the largeness of a farmer’s profits.  It is not that his account of the produce does often greatly exceed, but he by no means makes the proper allowance for accidents and losses.  I might enter into a convincing detail, if other more troublesome and more necessary details were not before me.

This proposed discretionary tax on labor militates with the recommendations of the Board of Agriculture:  they recommend a general use of the drill culture.  I agree with the Board, that, where the soil is not excessively heavy, or incumbered with large loose stones, (which, however, is the case with much otherwise good land,) that course is the best and most productive,—­provided that the most accurate eye, the most vigilant superintendence, the most prompt activity, which has no such day as to-morrow in its calendar, the most steady foresight and predisposing order to have everybody and everything