208 COTTON 



and the work stock itself are not, home-produced, 

 but purchased in the open market just as supplies 

 and equipment are for the cotton factory. As a 

 rule, work stock is permanent equipment for the 

 cotton crop alone, and cotton must support it, 

 just as land is permanent capital, and land is not 

 employed during the whole of the year : there is no 

 reason why they should be omitted in the final 

 settlement. The investment is made and an al- 

 lowance of interest must follow, teams must be fed, 

 and the maintenance of the plant continued all 

 items of legitimate expense which must rightly be 

 considered in calculating the real cost of produc- 

 tion. 



"But why charge cotton with the support of 

 teams during the winter season ?" you ask. 



Who will feed them? Your neighbor will not, 

 neither will the State. On most farms they belong 

 to the cotton equipment. Of course, where they 

 are employed for other purposes, a proper credit 

 to cotton should be made, but in the winter season 

 as a rule, both labor and teams are idle, and cotton 

 should bear its part of this expense. 



You see there are other charges to be added to 

 the amount required for the mere production of 

 the crop. 



Here are a few that must be included : 

 Taxation of land, tools, and teams. 

 Allowances for interest on land, tools and 



teams. 



Allowance for depreciation of tools and teams. 

 Maintenance of land and teams. 



Taxation: On the basis of the product of one 

 horse or mule, we have twenty acres of land, valued 

 at fifteen dollars per acre; one working animal 

 valued at one hundred and fifty dollars, and tools 



