Page:Australia, from Port Macquarie to Moreton Bay.djvu/163

 to be worth five shillings, these would be worth six shillings.

To simplify the calculation, I will assume that the wool pays all the expenses of wages, rations, squatting license, assessment, woolpacks, &c. At the present low rate of wages, (shepherds' wages being, according to the latest accounts from Sydney, only from £16. to £18. a year with rations), I have no doubt that wool will henceforth cover all these expenses, and leave a surplus to be added to the profits. According to my assumption, therefore, the value of the increase will represent the true profit