344 BOARD OF AGRICULTURE. 



matter to which attention was called in the first report which I 

 had the honor to present as your Secretary, and lias been alluded 

 to in others; but I felt that -some remarks upon it might not be 

 out of place at this time, even though it be a twice or thrice told 

 tale. It would seem to be of greater importance, now that wages 

 are so high, than when they were lower. 



It is one thing to pursue farming as a calling whereby to earn 

 a living — to get the simple worth of the labor bestowed — such as 

 one would get if he sold the same labor to another for wages ; and 

 it is a very different thing to conduct farming as a business which 

 shall yield a profit upon its operations over and above actual cost, 

 which includes the value of the labor together with a fair return 

 for interest on the value invested in lands, buildings, imple- 

 ments and animals, and for depreciation, taxes, risks and all other 

 outgoes. . 



My observations constrain the belief that a great many farmers 

 do not reap larger returns from their methods of conducting their 

 pursuit than they would if what they have thus invested was in 

 money at interest, and to this income was added the current mosey 

 value of their labor ; and if this opinion be correct they are doing 

 what they cannot afford to do, for whether they desire it or Dot 

 they are compelled to assume the risks of business, of poor crops 

 in bad seasons, of low prices, and the various drawbacks which 

 naturally attach to farming operations. They cannot afford to 

 assume risks without fair prospect of an equivalent therefor. In- 

 surance companies demand round premiums for assuming risks, 

 and why should farmers assume risks with no prospect of suitable 

 returns ? 



Among- the requisites for conducting business successfully a 

 few may be mentioned — such as : 



One should be well acquainted both with the principles and 

 with the practical details of the business engaged in. 



lie should undertake a business for which he is naturally 

 adapted, one which he loves and is deeply interested in. 



He should have capital enough to carry it on to advantage, both 

 of fixed capital invested, and of active, floating capital, that is to 

 to say, money in pocket, ready for use whenever opportunity oilers. 



lie must adapt his wares to the market, to the wants and the 

 tastes of his customers 



Be should carry out w.U digested and systematic plans covering 

 a period of sufficient length to accomplish the cuds in view. 



