1916] RURAL ECONOMICS. 693 



From a study of the Census data, dealing with 6,362,000 farmers, the author 

 concludes that the gross income of the farmer is $1,236 per farm, out of which 

 he pays $512 in farm expenses, leaving a net earning of $724 available for family 

 expenses, payments on mortgage, and savings. After deducting interest on the 

 investment at 5 per cent, there is left $402 as labor income produced by the 

 family. 



The investigations of the Office of Farm Management indicate that the aver- 

 age earnings of 4,018 farm families were $952, of which $400 represented 

 the value of the house rent, food, and fuel supplied by the farm. The data 

 obtained through the farm management demonstrations of the States Relations 

 Service indicated that the average labor income on 4,400 farms was approxi- 

 mately $800. 



The author commenting on these data states that "the average farm family 

 makes approximately as much for its labor as the average industrial family, but 

 owing to the lower cost of living on the farm and the interest earned by the 

 farm investment, the average farm family occupies a much more secure economic 

 position than does the average city family." 



Tlie farmer's income, E. A. Goldenweisee (Amer. Econ. Rev., 6 {1916), No. 

 1, pp. 42-48, fig- 1). — This article includes a large portion of the above data. 



Costs and sources of farm-mortgage loans in the United States, C. W. 

 Thompson ([/. S. Dept. Agr. Bui. S84 {1916), pp. 16, pis. 5).— In this publica- 

 tion data are given as to the average interest rate and the average annual com- 

 mission by States for farm-mortgage loans, and the proportion of the total mort- 

 gages in each State distributed according to the rate of interest paid. Data 

 are also given showing the percentage of the total farm mortgages held by life 

 insurance companies and by banks, factors which influence the terms on farm- 

 mortgage loans, the need for improved facilities, and the desirability of State 

 and Federal legislation. 



The author summarizes his conclusions as follows : 



" Being given a properly organized credit system, it is believed that the 

 farmer who adopts business methods in his farming and thus shows himself 

 worthy of credit will have adequate opportunity to secure it on reasonable 

 terms. The farmers' need in connection with mortgage credit is to obtain in- 

 vestment capital for relatively long periods of time, on suitable terms of repay- 

 ment, and at the lowest cost consistent with business policy. A properly or- 

 ganized system should supply this need, and, under suitable Federal regulation 

 and control, should protect the farmer against the unreasonable charges now 

 prevailing in many localities." 



Some observations on the bulk handling of grain for California, B. H. 

 Crocheeon and C. J. Williams {California Sta. Circ. 152 {1916), pp. 24). — The 

 advantages and disadvantages of handling grain in bulk and in sacks are dis- 

 cussed, and data on the cost of handling grain by these methods are given. The 

 cost of handling sacked grain after harvesting is estimated at $3,915 per ton as 

 compared with $2.90 for bulk handling. 



Rules and regulations of the Secretary of Agriculture under the United 

 States Cotton Futures Act of August 11, 1916 {U. S. Dept. Agr., Office Sec. 

 Circ. 64 {1916), pp. 27). — This circular contains rules and regulations promul- 

 gated by the Secretary of Agriculture relative to the United States Cotton 

 Futures Act (E. S. R., 35, p. 307), as well as a copy of the act itself. 



Agricultural associations and the war, P. Sagoukin {Ann. Sci. Agron., 4 

 ser., 4 {1915), No. 10-12, pp. 382-397) .—In this article are discussed the influ- 

 ence of the war upon the French agricultural associations and some of the 

 functions performed by them under war conditions. 



