22 AXxiAi, i;i;i'()i;r> m hki-aktm kxt (.f Aiiuicn/rruK. 



the conditions upon Avhich men may own the hind they till; upon 

 which youn«i: men :uul women, marrying and embarking upon their 

 careers, may acquire homes where their families may be reared, edu- 

 cated, and brought to maturity in the essentials of good citizenship. 

 With the passing of the great public domain, and with it our free 

 lands, the problem has taken on added importance, and to-day 

 represents one of the gravest social and economic questions with 

 which the Nation lias to deal. 



Considerable work already has been done in this held, but it 

 has not yet been adequately covered. Careful studies are being 

 made of the metliods of renting farm land and of improving ten- 

 ant contracts, which at present are frequently inadequate. They 

 encourage in many instances soil depletion, which, if not corrected, 

 will, in the long run, seriously affect our production. They also 

 encourage itinerancy on the part of tenants and constitute a barrier 

 to community social betterment. The causes of tenancy and what 

 it means to the country must be placed squarely before the American 

 public so that its importance may be generally recognized. If this is 

 to be done, studies of a thoroughgoing nature must be initiated and 

 carried to completion. 



PRICE or FARM LANDS. 



The price of farm lands is one of the important factors in the 

 problem of farm ownership. It is estimated that between March, 

 1919, and March, 1920, the increase in the selling price of farm land 

 and improvements was 21.1 per cent. In the last five years the 

 increase has been G5 per cent. Although the data for the census 

 of 1920 are not yet available, it seems probable that, while the average 

 price of farm land and improvements per acre increased only 20 

 per cent during the 40 years from 1860 to 1900, the price in 1920 is 

 two and one-lialf times that of 1-910 and five times that of 20 years 

 ago. 



In some sections, the net return on the purchase price of farm 

 lands is considerabl}^ less than the ordinary rate of return on 

 first mortgages and similar investments. The rental rate of cash 

 leases, also, is frequently less than half the rate of return on mort- 

 gages. Studies made by the department indicate that, in certain 

 regions, the recent advance in the price of land has still further 

 aggravated this condition. Such a situation is unfortunate, for it 

 increases the difficulties of a tenant who is seeking to become an 

 owner. If he borrows a considerable part of the purchase price 

 of a farm at from 5 to 7 per cent and then finds that the investment 

 will earn little more than 3 per cent, it will be impossible, in many 

 instances, for him to discharge the debt. # 



