| This paper attempts to generalize the results, on both the local and the national level, of graziers on 1.7m. acres of New England following planned investment patterns developed from farm surveys. This area, at present unimproved, is assumed capable of establishment under improved pastures over a period of ten years. If all the investment capital required over and above the additional revenue generated by the improvement (assuming no change from present prices) were supplied as loans to landholders, the advances required would range at their maximum between £8 and £10 per acre, or £l3m. to £17m. in aggregate, according to the pattern of improvement adopted. Under these conditions farmers would receive approximately 10 per cent return on investment, but... |
