MEANS OF ACQUIRING LAND 



surplus beyond fair wages and fair interest 

 on the investment. 



In this connection it is important to con- 

 sider how much may be reasonably paid for 

 managerial ability. A study of the figures 

 on page 133 will show that the labor income 

 from a considerable number of farms of the 

 better class was about 7% of the capital 

 invested in the farms. The inference is, 

 therefore, that if a man has $10,000 wisely 

 invested in a farm he may pay $700 for a 

 working manager; or, to put it in another 

 form, before the owner of a farm can afford 

 to pay $1,200 a year for a farm manager, 

 he should have about $17,000 invested. 

 Moreover, this investment must be in a form 

 calculated to return an income. If part of 

 it consists of investments for pleasure or 

 fancy, such investment will not only not add 

 to the income, but will detract from it by 

 increasing the cost of maintenance. 



This is scarcely less important to the em- 

 ployee than it is to the employer, since if 

 the owner pays a higher salary than the 

 manager can earn, he quite surely will 

 29 



