profitably in the wool and tallow trade; the field is therefore narrow
for general purposes of emigrants, and easily liable to be
overstocked, unless the government take prompt measures to open out
the abundant internal resources of minerals, &c. and give easier and
cheaper possession of land: then, though the imports might not be much
more, the prosperity would be much greater. America I believe to be in
this latter position, presenting a more varied field for the
operations of the small capitalist, though her imports may be
inconsiderable per head.

I ought to state, that a great many of the reported cases of success
are, from misapprehension of the real circumstances of the parties,
either quite false, or calculated to mislead. Doubtless many
successful hits will be made by purchasers of mineral land, and so are
successful hits made at the gaming-table. Successful men, besides, are
well known, while the unsuccessful have slunk away and are forgotten.
Few fortunes have been made by simple shopkeeping.

I ought not to conclude without referring to farming, although not
practically acquainted with it; indeed, the accounts from farmers
differ as much as the size and shape of their farms: but it appears to
me that, from one or other of the following causes, farming has not
hitherto paid well:--A large farm has been purchased, leaving too
little cash to spare for the erection of houses, fences, and
cultivation; or leaving it burdened with a mortgage at heavy interest;
or a short lease--of three years--has been taken, and the money sunk
on the improvements; or the cultivation has been of such a wretched
description as failed to raise a remunerative crop. There never
appears to have been a want of sufficient market for any
field-produce. L.1000 judiciously invested on a farm, I believe, would