172 FLORIDA.

cultivating too much than too little land, and it is gener-
ally better to buy five acres near transportation than fifty
acres more remote, for the purpose of fruit-growing, on
account of the trouble, expense, and damage to fruit by
teaming.
 "We are asked if capital can be profitably invested
here. There are virgin foreAs of the finest pine, cedar,
cypress, and oak in the Union for sale at low prices. The
rapid disappearance of that class of timber in the North
and West, and the immense local demand for building and
fencing-for here we have no stone for fencing-and the
material for boxes for fruit and vegetables will give a sure
and more rapid advance to these timber-lands than has
been witnessed in any State in the Union. Here, too,
money can be loaned on security as safe as United States
bonds, at from ten to fifteen per cent. per annum. Here,
too, are gigantic unimproved water-powers, surrounded by
the finest cotton-growing lands in the Union. We need
tanneries, boot and shce and furniture manufactories, car-
riage-builders, etc.
 "The State laws exempt to every head of a family a
homestead of one hundred and sixty acres in the country,
or half an acre in town, together with one thousand dollars'
worth of such personal property as the owner may select.
The legal rate of interest is eight per cent., but contracts
may be made for any rate. Taxes are rather high, the pres-
ent rate of assessment in this county for all purposes being
one dollar and fifty-five cents per hundred dollars. But
this is on a valuation entirely too low. The State Treas-
ury is solvent, paying cash on all warrants drawn against
it, and the bonded debts of the State are gradually being
reduced, and interest is paid thereon promptly."