105 



esting points you bring out, and that is its whole value. TI! 

 I had gone into every detail we would have been at the 

 talk until the middle of the afternoon. We did credit, sir, 

 the horse with the manure and the driving purposes. T 

 didn't speak of that as I should have done. I didn't givi 

 the actual cost on the screen, but I gave a table of all the 

 costs; it should have appeared, I admit, but as a matter of 

 fact, I did credit the horse with those things and the net 

 cost, after charging all those factors and after crediting the 

 net return, was 13 1-2 cents an hour for the horse. As to 

 that other proposition, I would not agree. I think you are 

 mixing up farming and real estate. The apple orchard isn't 

 to blame because a railroad goes through or because you are 

 near a prosperous town and your valuation increases. That 

 is, there is such and such a profit or less in operating a farm 

 and growing a certain crop for a definite period. If the in- 

 creased valuation of that land is due to some outside factor, 

 that is surely a real estate factor, just the same as if you 

 took the money you got out of the farm and went into Bos- 

 ton and bought a piece of property and it increased 20 per 

 cent, in ten years, making you a good investment. That 

 should be taken into consideration, but I don't think it 

 should be mixed up with the growing crop. 



MR. SmTH. Yes, I agree with that, but if you charge 

 the apples with that increased value you have made it pret- 

 ty costly to produce apples, haven't you? 



MR. BURRITT. No, because that is due to the in- 

 creased valuation. If you are looking for business, when 

 you get that increased A-aluation the presumption is that yo>a 

 will get a further increase and you had better sell out and 

 buy somewbere else. For instance, on that land which I. 

 showed there with a value of about $90 an acre it is now 

 worth at least $200. That is partly an increase caused by 

 the apples being planted and the general management, but 

 it is mostly because of the apples having increased. If there 

 wasn't anything in it but business I would sell out the whole 

 proposition and I could go within 50 miles and buy other 



