and obtain the same quantity of game; the fisherman would require three times that sum, or 9 l. The profits of stock would fall to 4 per cent., the hunter would be obliged to sell his game for 73 l. 12 s. 2 d.
| To replace his circulating capital of 53 l. with a profit of 4 per cent. | 55.12 l. |
|---|---|
| To replace fixed capital, annually wasted, the present value of an annuity of 18.49 l. for ten years, being 150 l. | 18.49 |
| —— | |
| £73.61 | |
| —— | |
| The fisherman would sell his fish for 171 l. 11 s. 5 d. viz. | |
| To replace his circulating capital of 159 l. with a profit of 4 per cent. | £165.360 |
| To replace fixed capital annually wasted, the present value of an annuity of 6.163 l. , for ten years at 4 per cent., being 50 l. | 6.163 |
| ———— | |
| £171.523 | |
| Game was to fish before | as 100 to 218. |
| It would now be | as 100 to 233. |