258 COST OF PRODUCTION AND FARM ACCOUNTING 



15. State some unsettled problems in farm accounting. 



16. Show danger of the so-called "vicious circle" in farm accounting. 



17. What is the correct accounting practice for value of farm products used 



on the farm for further production? 



18. State the objects to be gained by knowledge of cost of production on farms. 



19. Show why farmers may unconsciously continue for years to farm at a loss. 



20. Compare hours of labor per acre (man-hours and horse-hours) required 



in Minnesota to produce wheat and potatoes. 



QUESTIONS SUGGESTED BY THE TEXT 



1. What principle should govern in calculating the value of the land used in 



crop production? 



2. From the standpoint of political economy, is "rent" an item in the cost 



of production? 



3. From the standpoint of the Single Taxer, the private appropriation of 



ground rent is a special privilege which should be abolished. Briefly 

 state the main reasons for or against this theory. 



REFERENCES 



The Experiment Stations and the 48 Agricultural College's are constantly 

 studying the costs of producing farm crops. Results of these studies are 

 published from time to time in bulletins and distributed gratis to those re- 

 questing copies. These bulletins constitute the best sources of information 

 on this subject. Only a few of these can be listed here. 



1. "Industrial Commission Report," Vol. 10, p. CCXII, Washington, 

 1898-1902. 



2. HAYS, W. M., AND PARKER, E. C.: "The Cost of Farm Products," 

 Bulletin 48, Bureau of Statistics, United States Department of Agriculture, 

 Washington; and Bulletin 97, Minnesota Experiment Station, St. Paul, 1906. 

 (This is a pioneer study in this field.) 



3. PARKER, E. C., AND COOPER, THOMAS: "The Cost of Producing Minne- 

 sota Farm Products," Bulletin 73, Bureau of Statistics, United States Depart- 

 ment of Agriculture; and Bulletin 117, Minnesota Experiment Station, St. 

 Paul, 1910. 



4. PECK, F. W.: "The Cost of Producing Minnesota Farm Products," 

 1908-1912. Bulletin 145, Minnesota Agricultural Experiment Station, St. 

 Paul, 1914. 



5. PECK, F. W.: "The Cost of Producing Minnesota Field Crops," 1913- 

 1917. Bulletin 179, University of Minnesota Agricultural Experiment Station, 

 St. Paul, November, 1918. 



6. PECK, F. W., AND Boss, ANDREW: "The Cost of Milk Production," 

 Minnesota Agricultural Experiment Station, Bulletin 173, 1918. 



7. COOPER, T. P., PECK, F. W., AND Boss, ANDREW, Bulletin 157, Minne- 

 sota Agricultural Experiment Station, St. Paul, 1916. 



8. COOPER, THOMAS: "The Cost of Minnesota Dairy Products." United 

 States Department of Agriculture, Bureau of Statistics, Bulletin 88, and 

 Minnesota Agricultural Experiment Station, Bulletin 124, 1911. 



9. Boss, ANDREW, PECK, F. W., AND COOPER, T. P.: "Labor Require- 

 ments of Live Stock." Minnesota Agricultural Experiment Station, Bulletin 

 161, 1916. 



10. Boss, ANDREW, BENTON, A. H., AND CAVERT, W. L : "A Farm Man- 

 agement Study in Southeastern Minnesota." Bulletin 172, University of 

 Minnesota Agricultural Experiment Station, October, 1917. 



11. WARREN, G. F.: "Farm Management," New York, 1916. 



12. DUNCAN, C. S.: "Mercantile and Agricultural Economics," Journal 

 of Political Economy, October, 1918, pp. 769-806. 



13. ORWIN, C. S.: "The Determination of Farming Costs," Oxford, Eng- 

 land, 1917. 



