638 



READINGS IN RURAL ECONOMICS 



the estimates of money, in terms of which the farmer is accustomed to reckon, 

 the error in the total is less than one-hundredth of i per cent. These instances 

 will serve to show something of the measure of accuracy attainable in the 

 results of the farm-management surveys. 



The results given in the following tables are only for one year 

 in each region. The seasons and variation in prices will make 

 an immense difference in the farmer's income, particularly in cer- 

 tain districts. In the areas studied, it is believed the conditions 

 were fairly normal in all respects. Possibly the results from Iowa 

 are lo to 15 per cent too low, due to dry weather during the 

 early summer affecting the corn yield. In Chester County, Penn- 

 sylvania, the incomes are possibly a little above normal, due 

 to unusually high prices of hay and other roughage sold from 

 the farm. 



In Table I is given the capital invested, receipts, expenses, 

 farm income and labor income of 2090 farmers operating their 

 own farms. By farm capital is meant the average of two inven- 

 tories of land, buildings, live stock, machinery etc., taken at the 



TABLE I. AVERAGE CAPITAL, RECEIPTS, EXPENSES AND 

 INCOME OF 2090 OWNER FARMERS 



^ Bulletin 295, Cornell University. 



