REPORT OF MR. FRANCIS H. APPLETON.
539
not included in this estimate, as they form a part of the running expenses.
In the same way the $230,058, required for building the sugar-works in the Elbe suburb of .Kolin, are also omitted.
The sum above estimated, without reckoning the profits of the sugar-works, pays by the returns of the estate of Kolin, for the average of the four years from 1869-70 to 1872-73, namely $40,000, and an interest already of per. cent. ; and by the yield of the present year, 1872-73, of $43,232, per cent. If, as is expected, the yield
reaches $47,000 in value, the percentage will be Gy 9 ^-, say 7 per cent.
It is certain that few agriculturists can boast of such a high rate, from a large estate purchased such a short time since.
That a tract of land in a so thoroughly demoralized condition has been thus organized, laid out, cultivated and conducted, that such large sums have been expended and such large returns have been secured and made certain, has caused the estate of Kolin to become a model, in many respects, for large and small proprietors.
It has been visited by men scientifically and practically eminent, by large and small proprietors, and by agricultural societies and institutions, who have all washed to become thoroughly acquainted with its arrangements.
When I now reflect upon what I have accomplished, I feel assured, then, I can do no greater service to my native land, to the progress of agriculture, and to the general good, while I at the same time insure the interests of my heirs and bring my own labors to a close, than by holding to my purpose of making the estate of Kolin, with the sugar-works in the Elbe suburb, a family and model farm, and devoting the remainder of my property to the accomplishment of this object. I shall fix the necessary conditions, the management of the whole fund, its use and continuance. Of course I shall provide for its general improvement, and especially for that of agriculture and the industries.
By means of clear provisions for the continuance and management of the foundation fund, it will be possible to do away with those drawbacks which unfortunately exist