MANAGEMENT 243 



studying the broader movements of the markets, and the yet undeveloped 

 results of current events at home and abroad ; and for contriving how 

 to improve the organization of the internal and external relations of 

 his business. 



For much of this work the small employer has not the time if he has 

 the ability ; he cannot take so broad a survey of his trade or look so far 

 ahead ; he must often be content to follow the lead of others. And he 

 must spend much of his time on work that is below him ; for if he is to 

 succeed at all, his mind must be in some respects of a high quality, and 

 must have a good deal of originating and organizing force ; and yet he 

 must do much routine work. 



Economy of equipment is effected when a labor-saving ma- 

 chine can be used to its full capacity. This is much more likely 

 to happen on a large than on a small farm. On a small farm 

 a machine may be used only a part of the time, and on a very 

 small farm, where it could be used very little, it is frequently 

 cheaper to dispense with it altogether and do the work by hand. 

 A twine binder, for example, on a small farm may be used only 

 during the actual harvest season, and where a very small crop 

 of grain is grown it may actually be cheaper to reap it by hand. 

 In the economy of machinery, however, small farmers are some- 

 times able by cooperation to gain some of the advantages of the 

 large farmer. This is especially true in the threshing of grain 

 in the Middle West. 



Economy in buying and selling is sometimes effected by rea- 

 son of the fact that the large farmer, having to buy in large 

 quantities, can afford to take more pains in looking over the 

 market, besides being able sometimes to buy at wholesale rather 

 than at retail rates. Similarly, in selling, since he has a great 

 deal to sell, he can give more attention to the market and can 

 sometimes get better freight rates when shipping by the carload 

 or the trainload. If he is growing agricultural specialties, fine 

 stock, choice fruits, etc., for which a special price is to be 

 had, the large producer can also advertise more effectively and 



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