30 FARMING VERSUS LAND SPECULATION 



federal government's " Weekly News Letter to Crop Correspond- 

 ents," in these words: 2 



"The county agent is a part of a great agricultural movement. This 

 movement has for its ultimate purpose the building up of a country life that 

 shall be wholesome, attractive, cultured, efficient and profitable. There are 

 many sections of our country to-day that have one or more of these conditions, 

 but the sections where all are found in happy unison are comparatively few. 

 The desire of those who are thinking on rural problems is that rural communi- 

 ties everywhere shall be wholesome, attractive, and cultured, and that each 

 individual shall receive a fair reward for the labor done and the capital in- 

 vested. In proportion as agriculture is made profitable will the community 

 become attractive, cultured, and a place wholesome and desirable to live in. 



"Just what is meant by a profitable agriculture? Simply this: There 

 shall be a reasonable return on the capital invested in farming and a reasonable 

 return for the farmer's labor and managerial ability. A farmer, like any other 

 man in any other business, is entitled to just what he earns and no more; but 

 what he earns should be sufficient to give him and his family some of the 

 more essential conveniences of modern life, time for study, some recreation, 

 and opportunity for education of his children. With some money in his 

 pocket the farmer will support the church, place conveniences in his house, 

 magazines and literature on the sitting-room table, and send his children to 

 the best schools with very little outside prompting." 



QUESTIONS ON THE TEXT 



1. Distinguish between land farming and land speculation. 



2. Distinguish between fanner and land owner. 



3. Quote Vrooman on the farmer's average income. 



4. Define and illustrate overcapitalized land. 



5. Cite the case of Mr. C. L. Smith. 



6. Give examples of fluctuations in land value. 



7. Quote Bailey on land values. 



8. Distinguish between commercial and market values. 



9. State and explain Pratt's position as to ownership versus tenancy. 

 10. Show the interest of the wage earner in cheap land. 



11 What profits, according to the Government Weekly News Letter, is a 

 farmer entitled to? 



QUESTIONS SUGGESTED BY THE TEXT 



1. Ought the land owner to have the "unearned increment," so-called, on 



his land? 



2. Is free trade in land the ideal method of land trading? 



3. Is it for the public welfare to have cheap land or dear land? Reasons for 



your answer. 



REFERENCES 



1. PRATT, E. A.: "The Transition in Agriculture." 



2. For a statement of the Single Tax view of the "unearned increment," 

 see "Progress and Poverty," by HENRY GEORGE; also, "The case for Land 

 Nationalization," by JOSEPH HYDER. 



3. WHITTAKER, SIR THOMAS : "Ownership, Tenure, and Taxation of Land." 



4. BOGART, E. L.: "Economic History of the United States," 229-235; 

 247-249; 286-299. 



5. COMAN, KATHERINE: "Industrial History of the United States," 

 285-307. 



6. MARSHALL, WRIGHT, FIELD: "Materials for the Study of Elementary 

 Economics," 635-640. 



2 December 16, 1914, p. 4. 



