CAPITAL 109 



terials for which he was already in debt, and then 

 purchased enough materials with which to finish his 

 home. His road stand folded up and disappeared the 

 next winter it never did make very much money. 

 But in spite of this disappointment, he managed to 

 earn enough during the periods when he worked to 

 meet his loan payments, to keep adding to his home- 

 stead, until he finally had a substantial house, a gar- 

 den and chicken-yard, and found himself living at a 

 level of comfort and security which he had never be- 

 fore enjoyed. 



Now if a family with virtually no capital and hav- 

 ing to rely mainly on the earnings of occasional 

 periods of work as a chauffeur, can establish itself in 

 a country home, it ought to be possible for families 

 with some capital and more earning power to do so. 

 What such a family needs in addition to courage 

 according to our experience is enough capital for the 

 down payment on the purchase price of a place and 

 enough cash to pay for such materials and equipment 

 as cannot be purchased on credit. For the rest, they 

 must rely upon their incomes. But that a modest in- 

 come, especially during the first few years, will enable 

 them not only to pay for their place but to develop it 

 into a substantial and comfortable home, is not diffi- 

 cult to demonstrate on the basis of our own ex- 

 perience. 



Assume that we are dealing with the problem of a 

 family having enough capital for the first payment 

 on a suitable place, enough cash with which to equip 



