The driving force behind the ranch, Dr. Duncan McNab McEachran, had high aspirations and communicated his optimism to Sir John Walrond and the rest of the British investors funding the venture. But reality quickly set in. Winter storms, drought, disease, and predators constantly depleted the Walrond’s herds and the operation inexorably slipped toward bankruptcy. McEachran’s poor management played just as large a role as the environmental challenges in the ranch’s downfall; his stubborn reluctance to admit failure prolonged the inevitable, wasting more and more investor dollars in the meantime.
Somebody Else’s Money is the first close environmental and economic study of one of the so-called “great” ranches on the northern Great Plains of North America. Warren Elofson examines the business side of large-scale, open range grazing and describes the myriad of natural and man-made obstacles that barred it from success. He argues that, financially, the Walrond was doomed from the beginning because its management approach and grazing practices were unsuited to both the natural and economic conditions of the frontier environment.
The driving force behind the ranch, Dr. Duncan McNab McEachran, had high aspirations and communicated his optimism to Sir John Walrond and the rest of the British investors funding the venture. But reality quickly set in. Winter storms, drought, disease, and predators constantly depleted the Walrond’s herds and the operation inexorably slipped toward bankruptcy. McEachran’s poor management played just as large a role as the environmental challenges in the ranch’s downfall; his stubborn reluctance to admit failure prolonged the inevitable, wasting more and more investor dollars in the meantime.
Somebody Else’s Money is the first close environmental and economic study of one of the so-called “great” ranches on the northern Great Plains of North America. Warren Elofson examines the business side of large-scale, open range grazing and describes the myriad of natural and man-made obstacles that barred it from success. He argues that, financially, the Walrond was doomed from the beginning because its management approach and grazing practices were unsuited to both the natural and economic conditions of the frontier environment.
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Somebody Else's Money: The Walrond Ranch Story, 1883-1907
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Somebody Else's Money: The Walrond Ranch Story, 1883-1907
256Paperback
Product Details
ISBN-13: | 9781552382578 |
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Publisher: | University of Calgary Press |
Publication date: | 08/15/2009 |
Pages: | 256 |
Product dimensions: | 6.00(w) x 8.90(h) x 0.80(d) |