COTTON 209 



valued at about seventy-five dollars ; a total of five 

 hundred and twenty-five dollars, a reasonably 

 low estimate, you will admit. On this amount 

 taxes will be three dollars. 



Interest: The investment should realize six 

 per cent.: this is a simple business proposition 

 with banks, as well as with all investing enterprises. 

 This calls for a charge against cotton for thirty 

 dollars. 



Depreciation: The average working life of a 

 horse or mule is ten years; therefore the cotton crop 

 here must make good an annual depreciation of fif- 

 teen dollars, and also keep in repair stock, imple- 

 ments, and tools, which on the cotton farm is at 

 least ten dollars, or a total of twenty-five dollars. 



Maintenance: At least twenty-five cents per 

 acre is expended each year in maintaining the land. 

 Terraces must be kept up, ditches must be opened, 

 brush and shrubs cleaned away : a cost here of five 

 dollars annually. Then the horse must be fed 

 throughout the year. At least half the time he is 

 non-supporting, and cotton should pay his bill for 

 board. The occasional use will cover his care. 

 Hence a charge of forty dollars is to be made: a 

 total of forty-five dollars for the yearly expense of 

 maintenance of land and stock. 



We get then the following additional amounts 

 that must be included in the cost of cotton pro- 

 duction : 



Taxation $3 . 00 



Interest 30 . 00 



Depreciation 25 . 00 



Maintenance . . . 45 . 00 



Total $103.00 



Cost per acre 5.15 



