THE YOUNG FARMER 



which is more profitable than the average, 

 such as maize, tobacco, alfalfa, celery, ap- 

 ples or peaches, this land will, other things 

 being equal, command a higher price than 

 land which does not possess this character- 

 istic. 



There is an underlying economic prin- 

 ciple which the man who goes out to choose 

 a farm should clearly understand. The 

 principle has been stated by Fairchild as 

 follows: "The normal value of products 

 capable of indefinite multiplication tends 

 always toward the value of least costly. On 

 the other hand, if any production cannot be 

 largely extended, so that the supply barely 

 meets the requirements of the purchasers, 

 the tendency of normal values is toward the 

 cost of the most costly part of the product 

 required to meet wants." 



This principle explains why land espe- 

 cially adapted to raising maize is higher 

 priced than land primarily adapted to rais- 

 ing wheat. Maize which enters into com- 

 merce is raised almost exclusively in ten 

 states of the United States. Wheat is har- 

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