COST OF PRODUCTION. 209 



cal, but if the figures assumed are reasonable and con- 

 sistent with experience, it carries with it the force of 

 great probability. 



By extending the illustration still further, we 

 should find that the cost of production would be re- 

 duced yet lower. If, for instance, in the crop last 

 given, the amount of manure were doubled, and the 

 after-culture again repeated, the probable yield on a 

 fair soil with good management would not be less 

 than one hundred bushels per acre, which would 

 bring the cost per bushel to sixteen cents. 



On comparing the figures assumed throughout 

 this, investigation with those of similar crops actually 

 raised and frequently reported, it will be found that 

 the estimates above made are entirely probable, and 

 that any reasoning founded upon them becomes a fair 

 presumptive argument. 



In the following table the results of these four 

 successive crops are brought together, omitting frac- 

 tions, for the purpose of comparison. The table also 

 indicates the money value of each crop, supposing the 

 corn to be worth seventy-five cents per bushel, and 

 the stalks six dollars per ton, and it further shows 

 the rate of profit per acre, per bushel, and on the in- 

 vestment. 



In the second column the net expense per acre is 

 obtained by deducting the value of the stalks from the 

 gross expense. This mode of estimating the cost of 

 corn is usually adopted by farmers, though not strictly 

 correct. 



In the fifth column the money value per acre in- 

 cludes the value of the grain and stalks : 



