AGRICULTURAL ECONOMICS 



vested in live stock. In the dairy districts, espe- 

 cially, it is common, therefore, for the landlord 

 to furnish a part of the live stock. In some in- 

 stances the landlord furnishes a given number of 

 cows, and other kinds of live stock, while the 

 tenant furnishes the horses (the number to be 

 kept being limited by the contract), the tools, ma- 

 chinery, etc., necessary to operate the farm. 1 In 

 other instances the "stock and land" lease is so 

 arranged that the landlord and the tenant each 

 owns a half interest in all of the live stock, tools, 

 machinery, etc., necessary to operate the farm. 

 The tools and machinery are sometimes furnished 

 by the tenant, and in other cases each party owns 

 a half interest in them, in fact there exists the 

 greatest variety of arrangements between land- 

 lords and tenants. 2 The management of the 

 farming operations is usually under the close 

 supervision of the landlord. The product is usu- 

 ally shared equally by landlord and tenant. This 

 form of tenancy is essentially a partnership in 

 which the labor is balanced against the land. 



The landlords are usually unwilling to enter 

 into an agreement to let land on this plan for more 

 than one year, unless they know the tenant. On 

 the other hand, it is well understood by both 

 parties that it would be unprofitable to enter into a 

 partnership of this kind for but one year. It is 



1 See Appendix B at the end of this chapter. 



2 See Appendix C at the end of this chapter. 



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