Land Problems and National Welfare 



headings ; but the valuation proper, (stock, 

 horses, etc.), which should of course be made 

 annually by a professional valuer, should be 

 kept apart fronn the current account. 



The valuation, once a farm is in proper 

 working condition, should vary very little over 

 a period of years ; and whatever variation there 

 is would be entered as profit or loss on the 

 capital account. 



It is a great misfortune that accounts have 

 not usually been kept in such a way as to show 

 the profit and loss on the different departments 

 of a mixed farm : i.e., the profit and loss on the 

 arable land, the grass land, sheep and cattle, 

 under their respective heads. We are sadly in 

 need of definite data as to the profit or loss on 

 arable land. To arrive at this requires by no 

 means an impossible amount of book-keeping, if 

 proper labour and foodstuff sheets be used. 



I think it is best to consider each crop b}'' 

 itself. Let us take for example wheat : on the 

 one side the total cost of cultivation, of arti- 

 ficials, harvesting, rent, rates, and the interest 

 on apportioned working capital ; on the other 

 side the receipts from the sales of wheat, the 

 value of home consumed wheat and of the 

 straw. The same system would hold good with 

 barley and oats, as also with mangolds, in their 

 instance selling them to the sheep and cattle at 

 fair market value. With a fair crop a profit 



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