LH 



AGRI( I'LTX'RAL APPRomiATlO.V BII.I^ 1024. 385 



flrxibilit V t(i tlu" roll, aixl will iTinhlr lis to usr thi»sr places for rlerlcH 

 (»!• nuK-liiTM' (t|)«'r»itor8 as thr needs of the sorviro dirtato. 



FOn (JENKKAI VDMIMSTKATIVK KrPKV'^K'* 



Mr. Anderson*. Your next item seems to be the penernl u(iruiniji- 

 trutive item, in which tlu-re does iio( iippear to he any rhan^o. 

 Dtxfor 'rwi.oi:. Thrrr is iki chnnt^'c in Hmt 



nut l.MriU)VEl) MKTIIODS OK FAKM M.V.N A(i KM KXT AND KAKM 



ri{A(TI( T.. 



Mr. A.NDKKsoN. The next item is on page 273, t«» investigate and 

 encourage the athtption of iinproviMl metliods of farm nuiiuigement 

 and farm practice. 



Doctor Taylok. There is a decrease in tlie hnup sum. hut a corre- 

 s|)on<hng increa.se in the statutory roll, so that tne total amount 

 tlie same. 



Mr. Andkkson. Suppose you give us a brief >latenuMit of what i.s 

 being done under tliis item now. 



Doctor Tayu^h. The work covered by this item includes the ovo- 

 iiomics of agricultural production. This is included imder two clas.ses 

 oi" iieadiiigs, first, the study of the basis of piodiiction. and then the 

 organization of production. Under the head of the bases of produc- 

 tion we have the stiidy of land economics or the land bases of pro- 

 duction, farm population and country life, and agricultural finance. 



Under the head (»f land economics we are proposing to ex|)end the 

 same amount as for the current year, which is S().'). ()()() for the lump 

 sum and $27.S2() on the statutory roll, making a total of S92,820. 



I..\Nn VALUATION. 



One of the lines of work of very great importance at the present 

 time, covered by this subdivision, is the (piestion of land valuation. 

 The work has been done on the basis of (piestions tliat were put in 

 the last census schedule for the special benefit of our bureau, and In- 

 special studies in the field, with a view to determining the way in 

 which land is being valued and the relation of land values to the earn- 

 ing power of the land, as well as to increments that have been added 

 to tlie value of tlie land. The joint-stock land banks, the Federal 

 farm loan banks, and the farm mortgagi' bankers have been very 

 much interested in this piece of work in the last year, becaii.se the 

 question of the size of the loans rests back upon a proper valuation 

 of laiul. They recognize that there has not been any scientific 

 method of land valuation «leveloped in the past and this effort to 

 develop a scientific basis of land valuation arouses a very great 

 interest on the part of these money lendeis. It is also of very great 

 value, if applied properly, to those who are buying land in ortler that 

 the prices paid may properly correspond to the earning power of tho 

 land. 



Mi-. Anderson. Has this item any relati»»ii to the cost ul juodurium 

 studies ( 



Doctor Taylor. Yes. This has a very important application to 

 the cost of production studies, because in the past we have luul to 

 take the land values given bv the farmers. 



