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In this calculation I have taken the fleece at 2¾lbs., which is less than the average of what a fleece ought to be, which only fetches lid. per pound. I suppose the sheep to be clean, that is, free of scab. I have put down the wages at the present prices, though I think there is every reason to expect a fall to £15, or even £12. The settler would shear about 11,000 sheep and lambs in the third year. If a man have a family, he might add another hundred a year for comforts, and for a man and a woman servant additional.
From the foregoing statement it would appear that less than £2,000 would suffice for the purchase and conducting of a station such as I have described; and perhaps it might, but it is by no means probable that sheep will long remain at their present low price; we must leave room also for some mismanagement and mistakes on the part of a new-comer. The expenses of living in Melbourne and other contingencies must be allowed for. It must also be remembered that the full
