Page:Early western travels, 1748-1846 (1907 Volume 11).djvu/160

 M'Gill, a venerable and highly respectable merchant, who knows that farmers have made large fortunes quickly, where disposed to economy and industry. Still, many of the Virginians have spent all as fast as it came, indulging in all manner of luxury and excess; giving their children most expensive educations, which never turned to any account, as they afterwards all sat down on small plantations. Colonel Thomas (says he) has saved much and spent liberally too, although he talks {150} to you of money being made slowly by farming. Bacon, potatoe, and bonny claber farmers (Germans) have become invariably rich by cultivating. On farms of 300 acres each, 100 is in wood, 100 in corn and rye, for the support of the farm and establishment, and 100 is in wheat, clear gain, which might be put into the pocket every year. Twenty-three thousand dollars capital is necessary for every farm of 300 acres in this fruitful valley, and about 10 per cent. profit on such capital is realized where good management exists. He thinks highly of the west, and feels anxious for the success of Mr. Birkbeck's settlement. He must enrich himself, family, and followers by the increasing value of land, and that without cultivating an acre, if he does but retain the title-deeds in his own hands. He feels sure that land on the Miami of the lakes is fine and desirable for settlers, especially when the canal from New York thence shall be finished, and deems settlements on the Missouri flourishing and inviting. Mr. M'Gill is of Scotch extraction, and is a kind-hearted, well-informed man.

11th.—I dined, supped, and slept with Mr. T. Hillery, a water-miller and planter of the most complete kind, occupying two large plantations, one rich, and the other poor, worn-out land. On the former he gets from 35