HUMAN ELEMENTS IN COTTON 277 



both mortgages. Also paid some carry-over from 1926 for 

 share croppers, and have $500.00 left for 1928. I now have 

 a net worth of $8000.00 and my indebtedness on farm will 

 be cared for from rents from same, besides giving me $1000.00 

 a year to apply upon principal. 



I grow nothing except cotton, one-fourth of which goes 

 for rental, which usually amounts to $10.00 to $15.00 per 

 acre. So it pays to buy land with 5% money. 17 



The rise of an able cropper, the fall of his fortunes, 

 caught in the past war deflation in cotton and land 

 values, and his rise, with the aid of a banker friend, in 

 the Arizona Cotton Belt is set forth in the following 

 case study: 



M. O. Parker, Phoenix, Arizona, 

 the Best Farmer I Ever Knew 



At the age of 30 had accumulated $5000.00 farming in 

 Missouri, paying one-half of all his production as rent. 

 Moved to Louisiana in 1914 and lost out in two years. Under 

 a partnership deal with the writer in the sale of some plan- 

 tations he received clear profit in 1917 and 1918, one-half 

 or $10,000.00 cash at one time. Bought 160 acres with all 

 stock and equipment in early spring of 1920 near Rogers, 

 Ark. Worked hard and lived close for three years. Went in 

 with $11,000.00. Came out with $700.00 and three years 

 older. Pretty badly broken in spirit as well as in cash. 



I gave him free of rent for two years 40 acres of rich 

 land adjacent to Phoenix, except for taxes about $9.00 per 

 acre. Loaned him $1400.00 1st year and I think $400.00 

 second year. In the meantime he rented other lands up to 

 200 acres. At the end of three years he bought this 40 acres 

 of me for $19,000.00 net, paying me $4000.00 cash. In 1926 

 he paid all due $900.00 net and $500.00 principal. In 1927 

 he paid $4000.00, although only $1360 due, and is now easily 



17 Letter to writer, March, 1928. 



