CAPITAL AND LABOR— THE FARMER'S RELATION TO BOTH. 25 



Number of farms in the State . 135,107 



Number of acres improved 7,280,775 



Number of acres unimproved 4,926,443. 



Total number of acres 12,207,218 



For the value of these farms, that is the capital they represent, I am oblige! 

 to take tlie result of the United States census of 1880, as the footings of the 

 State census of 1884, have not been completed so far as to show exact vahie. 

 That the capital in farm lands in '84 was greater than in '80 is a fair conclu- 

 sion, therefore the figures given are no exaggeration. 



Total value of farms, including fences and buildings $499,103,181 



Total value of implements and machinery 19,419,360 



Total value of live stock 55,720, 113 



$574,242,654 

 Estimated value of all farm productions for 1879, consumed, sold and on 



hand . |91, 159,858 



Amount paid for wages for farm labor not stated. 

 The same United States census says of manufactures: 



Number of manufacturers in the State 8.873; 



Total capital invested $92,930,959 



Total value of productions 150.715,025 



Amount paid for wages 25.3 3,682 



Amount paid for material . . 92,900,26^ 



To bring this comparison with n the limit of a district with wliich most of 

 you are best acquainted, let us look into the same authorities and see the show- 

 ing for Branch county. In 1880 we find: 



Number of farms in the county .• 3,670 



Value of farms $14,475,037 



Value of implements and machinery 435,033 



Value of livestock... 1,502,253 



Total value, or capital $16,412,323 



Estimated value of productions 2,470,840 



Number of manufactures in county 126 



Capital invested $489,665 



Total value of production 1,179,014 



Value of material 644, 1 56 



Total wages paid . 221,374 



Thus, my friends, you have the capital of Branch county as invested in two- 

 leading industries in 1880^ In one instance 3,670 farms, with a capital of 

 $10,412,323, or an average of $4,472.02 to each farm. In the other instance, 

 126 manufacturies, with a capital of $489,665, or an average capital of $3,886. 2;i 

 to each. 



Let us look at the cost of raising the three principal grain crops of the farms 

 of Branch county. The figures given are compiled in the Secretary of State's- 

 office, and are J or the year 1885. 



WHEAT. 



Average yield per acre, bushels 24. 70 



Cost of grain per bushel $0,552 



Net cost of grain per acre 13.64 



Value of grain per acre Jan. 1. 1886 21.00 



Value of straw per acre 1.21 



Profit per acre S.SZ 



4: 



