FACTORS OF PRODUCTION 



machinery on the farm at six hundred dollars, 

 though if all of it had had to be purchased new, 

 it would have cost more than twice that amount. 

 This indicates that more than nine dollars per 

 acre was required, to enable the farmer to assume 

 the ownership of all of the live stock, grain, fod- 

 der, tools and machinery on the farm on March 

 ist. To this, no great amount would need to be 

 added for bills which had .to be met before the 

 farm could be made to yield a return, for the farm 

 was in full running order, with sales occurring 

 every few weeks. 



The amount of capital required for carrying on 

 agriculture in the principal European countries 

 is much greater than the amount commonly used 

 in this country. In England, the better farmers 

 invest forty dollars and more per acre. This in- 

 cludes, of course, all the capital that a tenant 

 farmer must be able to command in order to carry 

 on agriculture successfully. The advanced rent, 

 the advanced wages of labor, the cost of living 

 until returns can be had, as well as the value of 

 the live stock, machinery, etc., are all included in 

 this amount. 



The amount of capital invested, per hectare of 

 land, in German agriculture has greatly increased 

 in the last hundred years. Early in the Nine- 

 teenth Century, according to Albrect Thaer, the 

 investment of 168 marks 1 per hectare 2 was 



X A mark is worth 23.8 cents. 

 2 The hectare is equal to 2.471 acres. 

 19 



