394 FARM AND SCHOOL PROBLEMS. 



20. What are the principal parties to a note? 



21. What is interest? What is usury? 



22. What is the legal rate in your state? 



23. What is discount? 



24. Explain advantages of depositing money in banks? 



25. Explain advantages of paying by checks or drafts. 



26. What is a bank account? How opened? 



27. Explain use of signatures and endorsements in dealing with 

 banks. 



28. What is a "draft;" a "deposit"? 



29. What is a bank book ? 



30. How often should it be balanced? Why? 



31. Should a farm have a name and be registered? 



32. Do you have a letterhead for correspondence? 



33. Arrange proper parts for a farm letterhead for a business letter. 



34. Give directions for a letter accompanied with a remittance. 



35. Where can you get proper postal information? 



36. In what different ways can you send a remittance? 



37. Is it safe to send currency through the mails? 



38. What is a P. O. money order? 



Book References. 



1. Principles of Bookkeeping and Farm Accounts, Bexell and Nichols, 



7-8, American Book Co. 



2. The Farmer's Business Hand Book, Roberts, 7-8, Macmillan Co. 



3. Crop Improvement Farm Record Book Crop Improvement Com- 



mittee, Council of Grain Exchanges, 64-65 Board of Trade Bldg., 

 Chicago, 111. 



4. Farm Accounts Smith & Thomas; The Laurel Book Co., Chicago, 111. 



The fundamental principles of farm management are de- 

 pendent upon facts which must be obtained from a careful sys- 

 tem of accounts which cover practically the whole field of farm 

 management. They may be briefly summed up as follows : 



1. Kind and number of operations required by each enterprise of the 

 farm. 



2. Men, horses and machinery required for each operation. 



3. Time required between certain dates for work to be performed. 



4. Amount of work performed per day. 



5. Percentage of time required between certain dates to perform a 

 stipulated amount of work. 



