THE EQUIPMENT 



calculate interest on $2,000 for a year, but 

 only for 100 days. Cattle paper is held in 

 large quantities by banks in the cattle feed- 

 ing districts of the United States. The 

 farmer would, in fact, be unwise to keep 

 $2,000 in the bank nine months in the year 

 in order to use it three months. Like any 

 other business man, if he has the money, he 

 invests it and borrows the money to buy his 

 cattle. The same thing applies to food and 

 fertilizers. If the food is fed to cattle, some 

 of the money invested in the food must pay 

 interest during the fattening period. Food 

 fed to dairy cattle and chickens may be paid 

 for out of each day's income. In practice, 

 the amount of money invested in food for 

 dairy cattle and chickens is dependent only 

 upon the most economical unit of purchase. 

 One may apply fertilizers to buckwheat, 

 give a three months' note for the 

 fertilizer, and pay the note out of the 

 proceeds of the crop. If the fertilizer is 

 applied to one-year-old apple trees, this in- 

 vestment may be required to pay interest for 

 fifteen years. 



