A HIGHER STANDARD FOR THE FARMER. 955 



all the Dr. and Cr. columns, and subtracting the smaller amount from the greater, and 

 employing the remainder as the beginning of a new account. The ledger should have an 

 index at the commencement, with the pages containing the transactions with different 

 individuals plainly numbered. An inventory should be taken by the farmer of his property 

 once each year, including land, buildings, live stock, farm produce on hand, agricultural 

 implements, cash on hand, dues, or unsettled accounts; in fact, every thing of money value 

 which he possesses. In doing this, the different kinds of property should be specified, 

 together with the money value of each. This should be done at the beginning of the year or 

 first of April. He should also find the amount of his liabilities, which will include all bor 

 rowed money and debts of every kind, and such a proportion of his taxes, interest, and 

 insurance as may be due at the time of making the inventory. If the inventory exceeds the 

 liabilities, the difference between the two sums shows how much the man is really worth; but 

 if. the liabilities exceed the inventory, the difference indicates how much the individual is in 

 debt, or the excess of his liabilities beyond his means. Thus a comparison of such accounts 

 year by year, or oftener if desired, will show the farmer whether he is making or losing 

 money, and the precise amount, as well as the present value of his possessions. 



Insurance. Since all persons are liable to calamities of one kind or another, either to 

 themselves physically by accident or by loss of their property by fire, it may be well for every 

 farmer to consider the benefits to be derived from the partial remedy which insurance affords 

 for such ills. Although insurance cannot extend the life of an individual, or prevent accident 

 or calamity to himself and property, yet it affords, to a certain extent, either to the person 

 insured or to his family, protection against some of the evils resulting from such events. 

 The three principal forms of insurance in which the farmer might find especial interest are 

 life, fire, and accident insurance. Life insurance, when secured with a reliable and trust 

 worthy company, is a safe and easy method of providing for the family or friends of the 

 person insured in case of his death. 



In life insurance the managers of the insurance company take their risk of paying the 

 policies of those they insure in case of their death, knowing that according to the usual 

 mortuary records some of their members must die each year. Those of the policy-holders 

 that live can make the requisite payments without much sacrifice, which payments go in part 

 to pay the policies of those that die, and thus aid the families of the latter. When a policy- 

 holder dies his family receives from the insurance company the sum for which his life was 

 insured. In many years the policy-holder pays a considerable amount for his insurance, but 

 rarely as much as his policy will amount to when he dies. 



Fire insurance covers the risk of the destruction of buildings, furniture, and clothing 

 from fire. &quot;While taking this risk the insurance company granting the policy requires that 

 certain precautions shall be taken against fire, and unless the precautions or rules are 

 observed the policy is annulled. In order that the owner of property insured shall not be 

 tempted to destroy it by fire, insurance companies never insure for the full value, but gen 

 erally from one-half to three-fourths of the real value of the property, and will pay all just 

 and honest claims embraced in their various contracts. 



Accident insurance is based upon about the same principle as life insurance, the expense 

 of the policy being proportioned to the risk to which the person is exposed. The expense of 

 a policy of this kind is generally less than either life or fire insurance, and it secures to the 

 individual holding it a stated weekly allowance during the period of entire disability from 

 accident, if the time does not exceed six months, or the payment of a certain sum to his 

 family, providing the injury proves fatal. We are well aware that during the past few years 

 many insurance companies have proved themselves unworthy the confidence of the public, 

 much to the loss and disappointment of their patrons, but we must remember that these, 

 when compared with those that are reliable and trustworthy, are very few in number, and 

 the fact of there being any such does not argue at all against insurance or the principles upon 

 which it is founded. The coins of purest gold may be counterfeited, but this does not prove 

 that there is no pure gold. Before obtaining a policy of insurance of any kind, or of any 

 company, however, it would always be best to obtain all the reliable information concerning 

 its trustworthiness possible. 



False Economy. While true economy should be practiced by all, and ever brings 

 its own sure reward, many grave errors are committed, and worse than needless sacrifices 

 are constantly being made in its name. Without economy one of the principal elements of 

 success in life 13 wanting; while with it, other conditions being equal, a person is almosture 



