As the currency in California is dollars, not pounds, we must ask our readers to accustom themselves to dollars. A dollar is 100 cents, and, roughly speaking, a cent is equivalent to a halfpenny, so that a dollar would be worth, of our money, four shillings and twopence. Its value, however, varies a few cents according to the place where it is exchanged. Bank of England notes or pounds are never worth less than four shillings and twopence, _i.e.,_ 480 cents or halfpennies, which, of course, is four dollars and 80 cents, there being 100 cents in a dollar.

The decimal currency is extremely simple when once understood. Never less than 4.80 is given for an English pound, but sometimes 4.82 and 4.85 is obtained.

MERCED.

The lands I have for sale are situate in the County of Merced, in California, about 150 miles by rail from the City of San Francisco, They are designated "British Colony," and at the nearest point are just one mile from the boundary of the town of Merced, and two miles from the railway station, hotel, shops, etc. Merced town is lighted by gas and electricity, has water laid on, telephones, telegraphs, Court House, Episcopal Church, Presbyterian Church, c.u.mberland Presbyterian Church, Methodist Church, South Methodist Church, Baptist Church, and Catholic Church, two schools, shops of various kinds; two railroads, the main one running up to San Francisco, and down to Los Angeles and on to New Orleans, etc., and the other, a branch line to Stockton, Sacramento, etc. Merced is 175 feet above the level of the sea; it is a pleasant little town, affords some congenial society, and I firmly believe will, before many years have pa.s.sed, become an important centre, because my clients have brought water from the Merced River more than twenty miles off, by a system of ca.n.a.ls, and have formed a reservoir of 640 acres in extent, with an average depth of 30 feet, and thus have given facilities for irrigating the country round the town. It is certain to become a great Fruit-growing district, as its soil is so fully adapted for the purpose. It is much nearer to San Francisco than Los Angeles, and is nearer also than Fresno and other districts which have already made themselves a name for Fruit culture.

The country around Merced has a natural fall, and is drained by many creeks, which are dry in summer, but contain more or less water in winter.

THE LANDS FOR SALE.

Merced is situated in the celebrated San Joaquin Valley (p.r.o.nounced San Wharkeen), which is an immense level of fertile land, the soil generally being of a rich sandy loam, but in some districts, such as that I am now offering for sale, of a deep rich black loam of a highly productive nature, in fact, it is the decomposed vegetation and alluvial deposits of past ages, than which nothing could be more fertile. We have good evidence that the land is especially suited for the production of prunes, apricots, pears, peaches, olives, plums, small Fruit, such as strawberries, blackberries, sweet and common potatoes, garden stuff, and alfalfa. Alfalfa (or lucerne) is a great crop in America in places where there are no old meadow lands for the cows. The land is, of course, suited for all cereal crops, too. All the Fruits named can be dried in the sun without artificial heat.

The lands are about 160 to 165 feet above the level of the sea, and, in common with all the country round, they command a view on the one side of the grand snow-capped Sierra Nevada Mountains, and on the other of the mountains known as the Coast Range. Immense flocks of wild geese and ducks (princ.i.p.ally geese), are often on the land. There are also "rabbits" on the land (so called), but they more resemble hares in their size and habits and run.

There are some excellent Fruit orchards and gardens at Merced. In the grounds around the Court House are some very fine orange trees, full of fruit, and also in the gardens of private residents. One gentleman kindly sent a bough of oranges, and other gentlemen sent other Fruits, which may be seen at our offices. At the Buhach Colony, near the town of Merced, are extensive orchards of Californian Fruits. Mr. At.w.a.ter's gardens and orchard, a few miles from the town, are worth inspection. He has two magnificent olive trees, nine or ten years' old, which bear heavy crops, and which are used for the production of olive oil; his vineyard and orange orchard, his lemon and persimmon trees, all look very prosperous. He would gladly show any settler how he has cultivated them. He has a corn and stock farm, and has only gradually cultivated these Fruits, which occupy some eleven acres.

PRICE OF THE LAND.

The prices of the land for sale are 75, and 100, and 150 dollars per acre, according to position. Two-thirds of the purchase-money may remain on mortgage as long as the interest is paid at 8 per cent, per annum, which is the lowest interest payable in California. The mortgagor is liable to the Government for the taxes, which amount to 1-1/2 to 2 per cent, per annum, so that he would really only receive 6 to 6-1/2 per cent, interest. All mortgages are publicly recorded, and so the property is vested in the mortgagor till he is paid off, and when that is done it also is publicly recorded. These taxes embrace all known to us in England as rates and taxes, except a road tax of 2 dollars a head per annum, chargeable to every male over twenty-one years of age. This tax may be paid for in labour on the road if desired. A free conveyance will be given, but the cost of recording the transaction in the county office (there is no stamp duty), about 1-1/2 dollars, must be paid by the purchaser. The recording of a mortgage would probably be 3-1/4 dollars because it is longer. The record is a public acknowledgment of the t.i.tle of the owner to the land made in the county books.

Foreigners can hold freehold property in California, but they have no right to vote--indeed, they would have no right to vote until they had resided five years in the country, and had become naturalized; then a resident has before him the possibility of becoming Governor of the State to which he belongs, or, indeed, Secretary of the Interior, which corresponds with the position of the Premier in England.

AMERICAN SURVEYS.

According to the American surveys the country is arranged in squares, as shown on all the maps. A "section" is a square mile, or 640 acres. A "township" is 36 sections, _i.e.,_ six miles on each of its four sides.

A quarter section is 160 acres, and the lands are so arranged that a roadway is reserved around each quarter section 60 feet wide, and the land for such roadway is taken from each side, so that each owner has to contribute 30 feet to such road, and, of course, he has the benefit of the frontage to it. A 20 acre lot would be an eighth of a quarter section. On some of the lots for sale at "British Colony," are one or two houses and some buildings. These may be purchased thus: One house and buildings, 1,000 dollars; another house and buildings, 1,000 dollars; another house and buildings (N.E.), 600 dollars; but if one purchaser bought four lots of 20 acres, each adjoining so that one house and buildings should come near the centre, then such house and buildings would be given in.

SPECIAL KNOWLEDGE OF FRUIT CULTURE.

Few settlers would have the requisite special knowledge of Fruit culture without some instruction, and, therefore, the owners of the land have engaged the services of Professor Eisen, at a fixed salary, so that all settlers on their lands may have the benefit of the Professor's instruction, _free of charge_. Professor Eisen is well known as a specialist in horticulture in California. He has just published a book on the raisin industry in California, which may be seen at our offices.

The culture of grapes for raisins, and plums for prunes, would be remarkably successful on the lands for sale.

CANNED FRUITS.

Wholesale buyers come round the country to buy the Fruit crops while on the trees. An enormous trade is done in America in canned Fruits; the hotels, steamers, railway cars, and private families use them largely at all meals, and America itself seems to be a sufficient market for ages to come for all the Fruit and vegetables its State of California can produce.

ESTIMATES.

How to start with a capital of 20,000 dols.

dols.

80 acres of land, 12,000 dols., half cost 6,000 Trees, such as orange, olive, fruit, etc. 2,000 House and barn 2,500 Horses 400 Cow 50 Poultry 25 Furniture, etc. 600 Waggon, tools, etc. 400 Labour, per year, 3 men, etc., for, 3 years, including living 4,000 Interest on 6,000 dols. at 8%--480 dols. per year, 3 years 1,440 ------ dols. 17,415

Leaving a balance of 2,585 dols. for first payment of land, or for other improvements and unforeseen expenses.

Profit the fourth year should be about 4,000 to 5000 dols. at the lowest.

How to start with a capital of 10,000 dols., i.e., say 2,000.

dols. dols.

40 acres of land .. .. .. .. 6,000 House and barn .. .. .. .. 1,200 Well and pump .. .. .. .. 100 Horses .. .. .. .. 200 Waggon and tools .. .. .. .. 350 Furniture, etc .. .. .. .. 500 Cow .. .. .. .. 50 Trees, etc. .. .. .. .. 1,200 Seed, etc. .. .. .. .. 100 .. .. .. .. ---- 9,700 Living one year, etc.; incidentals .. 300 .. .. .. .. ----- dols. 10,000

PROFITS.

dols. dols.

_First year_.--Land between the trees, cultivated in potatoes, vegetables, etc. .. .. .. .. 500 Poultry, eggs, etc. .. .. .. .. 150 --- 650

(Eggs and poultry pay for groceries. Many families are doing this now.)

dols. dols.

_Second year_.--The same as above .. 650

_Third year_.--The same as above .. 650 Yield from Fruit, 10 dols. per acre .. 400 ---- 1,050

_Fourth year_.--The same from poultry, etc. 650 From Fruit trees, 50 dols. per acre .. 2,000 ---- 2,650

_Fifth year_.--The orchard is now in good bearing, and should pay from 100 to 250 dols. per acre; say the lowest .. 4,000

(No time to attend to any but Fruit trees unless a man is employed, so only the return of Fruit trees is given).

_Sixth year_.--The orchard now pays, if properly attended to, from 150 to 350 dols. per acre; say the lowest .. 6,000

_Seventh year_.--The orchard pays, if properly cared for, from 200 to 450 dols. per acre; say the lowest .. 8,000

This clear after expenses have been deducted. The farmer can take care of 20 acres himself, with occasional help. With 40 acres he requires one man more, his son or hired help.

The first three years he will only make his living ordinarily so; after that time he will make money. Poultry, and vegetables should, during the first year pay for all expenses at least, and in many instances leave a large surplus. All this depends upon the capacity of the settler. With good land such as this 100 dollars or more could be made from vegetables the first season by a capable and experienced man. At least it has been done repeatedly.

If poultry is properly cared for, a family will make its living by selling eggs and chickens until the trees come in bearing.

=How to start with a capital of 8,000 dols., i.e., say 1,600.=

dols.