Mow conceives that the proper plan to arrive at an approximation (for that it is as much as can be hoped) of the real value of the land would be to find out the produce in Rice of a mow of various descriptions of soil such as is found in the Hong-ni-chong and Soo-kun-poo tallies (not one part of which ought to be classed as of the best description) and then to fix the price of the Rice at the market rate in this part of China.
The assertions that such land as is found in the tallies in question sells at less than six years purchase and that the clear profit is three or three and a half Dollars per Mow per annum, are perfectly incredible.
The richest land in Judia, situated under the most favorable circumstances on many streams and capable of bearing luxuriant crops of sugar cane, and other valuable produce (Plantains, Pan Leaf, etc.), are usually estimated at from ten to twenty years purchase; and the Governor speaks from his personal Knowledge when I inform you His Excellency has known such lands to be sold at 15 years purchase, whilst the profit to the cultivator was not too high. The letter shows for the Rice fields of these two tallies.
At the rate per mow for the best Rice lands as stated by the Natives, an acre would be worth about Seventy Dollars per acre annually, nearly thirteen Pounds.