INTENSIVE FARMING 



3010 



INTEREST 



manure crops and commercial fertilizer. By 

 these means the fertility of the soil is con- 

 stantly increased and the European farmer 

 obtains a yield from one-third to one-half 

 larger than the American farmer. 



In America land has been plentiful and 

 cheap, and the farmer has tilled large farms, 

 doing as little as possible, and leaving nature to 

 do as much as possible. Wasteful methods of 

 farming have been the rule. Now that land is 

 becoming more valuable it is necessary for the 

 farmer to resort to more thorough and scien- 

 tific methods of tillage. The following lines of 

 agriculture are especially adapted to intensive 

 farming. 



Dairying. Many farmers do not know 

 whether they are keeping cows at a profit or 

 a loss, simply because they keep no record of 

 the milk and butter fat produced by each cow. 

 An intelligent study of the herd will lead to 

 an improvement that will greatly increase the 

 dairyman's profit. The Agricultural College 

 of Illinois estimates that the scientific man- 

 agement of a dairy herd, including the rais- 

 ing and harvesting of the crop and proper feed- 

 ing, will increase the present profit in milk 

 production fivefold. 



Fruit Growing. The application of intensive 

 farming to fruit growing is well illustrated in 

 the raising of apples. The fruit grower aims to 

 secure the largest possible quantity of salable 

 fruit. This necessitates careful attention to 

 the orchard, and the wise use of cover crops. 

 Pruning, spraying and tillage are all necessary 

 to a good crop. These suggestions apply with 

 equal form to the raising of peaches, pears, 

 plums, grapes and small fruits. 



Truck Farming. All truck farming is neces- 

 sarily intensive; success depends upon a fertile 

 soil, constant and thorough tillage and a wise 

 use of fertilizer. Such crops as onions, toma- 

 toes, lettuce, cabbage and cauliflower, usually 

 yield a profit of several hundred dollars per 

 acre when they are properly cared for. 



Irrigated Land . All land under irrigation is 

 farmed intensively. The crops in the irri- 

 gated districts usually consist of fruit, vegeta- 

 bles and alfalfa. Since the water obtainable 

 can irrigate only small areas, the. farmer must 

 realize the largest possible profit from his 

 land, therefore, the farms are small and under 

 a high state of cultivation. 



Possibilities. The best farm lands in the 

 United States and Canada are not excelled by 

 those of any other country, yet their average 

 production is scarcely more than one-half of 



what it might be under intensive farming. The 

 tendency now is to meet new conditions by 

 breaking up the large farms and ranches into 

 small farms which will be more thoroughly 

 and intelligently cultivated. W.F.R. 



INTEREST (!N BUSINESS). Interest is 

 money paid for the use of money. We pay 

 rent for the use of another's farm, garage, 

 house, etc., we pay hire for the use of another's 

 horse, etc., and we pay interest for the use 

 of another's money. 



Interest is expressed as a per cent of the sum 

 of money borrowed. The sum borrowed is 

 called the principal; the per cent paid is called 

 the rate. The rate named is for the use of the 

 principal for one year; for example, when we 

 say that a man borrows $7,000 for 4 years at 

 6%, we mean that he must pay each year as 

 interest 6% of $7000, or $420. Interest is paid 

 very often semiannually ; at times quarterly, 

 and at times yearly. At the present time, the 

 semiannual payment is common. 



Problems. 1. Mr. Green borrows $1500, Janu- 

 ary 2, 1917, for 5 years at 6%, interest payable 

 semiannually. What is the semiannual interest? 

 When is the first interest due? 

 Solution : 



Prin. = $1500 



Rate=6% 



Semiannual Int. = .03 X $1500 $45. 



First interest is due June 2, 1917. 



2. Mrs. Mallon borrows $1750 at 5^% for 3 

 years, interest payable annually. What is each 

 interest? What is the interest for the entire 

 time? 



Solution : 



Prin. = $1750 



Rate =5%% 



Time=:3 yr. 



Annual Int. = . 05 V 2 X $1750 = $96.25 



Entire Int. = 3 X $96.25 = $288.75 



3. What is the interest paid for the use of 

 $75,000 for 8 years at 4V 2 %? 



Solution : 

 Prin. = $75,000 



Time = 8 yr. 



Int. = 8x.04V 2 X$75,000 



Int. = . 36 X $75, 000 = $27, 000 



Methods of Computing Interest, (a) The 

 Direct Method. When the principle involved 

 is clear, this method will be popular : 



Find the interest on $360 for 2 yr. 5 mo. 20 da. 



at 6%. 



5 mo. 20 da. = -^2 yr. = i% 6 yr. 



Prin. = $360 



Rate = 6% 



Time = 2 yr. 5 mo. 20 da. 



Int.r=.14%X$360:=$53.40 



To use this method, we must learn to tell readily 

 what part of a year any number of months and 

 days are. 



