134 Bulletin 271. 



penses) were $1,291, leaving an average net income of $1,538. If we 

 deduct interest at 5 per cent, on the capital invested, we secure the 

 average labor income of one man, which is $981. This means that the 

 average of these farmers, after making interest at 5 per cent., has had the 

 use of a house and such produce as the farm furnished in addition, and 

 has made $981 above all farm expenses and above the value of farm 

 labor done by members of the family other than himself. In these 

 calculations the personal expenses have not been counted, as they are 

 not a part of the farm business. It may be possible that some of the 

 best farmers have spent more than their entire income for personal 

 wants. 



We shall soon have ready for publication a bulletin giving results 

 from a careful statistical study of all the farms taken just as they come, 

 in eleven townships, in two coimties. While the average income is 

 much below the average here given, yet the results agree when we con- 

 sider only those farms with an equal capital. In considering the averages, 

 we must not lose sight of the fact that a considerable number of the 

 men lost money or made a very small profit (page 1 9) . Full details of 

 methods of calculation will be given when this work is published. 



G. F. Warren. 



