AnothermodeofinvestmenthighlyspokenofisthatofbuyinglandandlayingitdowninEnglishgrass，thusmakingapermanentestateofit。
ButIfearthiswillnotdoforme，bothbecauseitrequiresalargeexperienceofthingsingeneral，which，asyouwellknow，Idonotpossess，andbecauseIshouldwantagreatercapitalthanwouldberequiredtostartarun。Moremoneyissunk，andthereturnsdonotappeartobesospeedy。Icannotgiveyouevenaroughestimateoftheexpensesofsuchaplan。IwillonlysaythatIhaveseengentlemenwhoaredoingit，andwhoareconfidentofsuccess，andthesemenbearthereputationofbeingshrewdandbusiness-like。Icannotdoubt，therefore，thatitisbothagoodandsafeinvestmentofmoney。Mycrudenotionconcerningitis，thatitismorepermanentandlessremunerative。InthisImaybemistaken，butIamcertainitisathingwhichmightveryeasilybemadeamessofbyaninexperiencedperson;
whilstmanymen，whohaveknownnomoreaboutsheepthanIdo，havemadeordinarysheepfarmingpayexceedinglywell。Imayperhapsaswellsay，thatlandlaiddowninEnglishgrassissupposedtocarryaboutfiveorsixsheeptotheacre;somesaymoreandsomeless。Doubtless，somewhatwilldependuponthenatureofthesoil，andasyettheexperimentcanhardlybesaidtohavebeenfullytried。AsforfarmingaswedoinEngland，itisuniversallymaintainedthatitdoesnotpay;thereseemstobenodiscrepancyofopinionaboutthis。Manytryit，butmostmengiveitup。Itappearsasifitwereonlybona-fidelabouringmenwhocanmakeitanswer。ThenumberoffarmsintheneighbourhoodofChristChurchseemsatfirsttocontradictthisstatement;butIbelievethefacttobe，thatthesefarmsarechieflyinthehandsoflabouringmen，whohadmadealittlemoney，boughtland，andcultivateditthemselves。
Thesemencandowell，butthosewhohavetobuylabourcannotmakeitanswer。Thedifficultyliesinthehighrateofwages。
February13。——SincemylastIhavebeenpayingavisitofafewdaysatKaiapoi，andmadeashorttripuptotheHarewoodForest，neartowhichthetownshipofOxfordissituated。WhyitshouldbecalledOxfordIdonotknow。