PROFITS THAT FARMERS RECEIVE 



641 



both land and equipment in an efficient manner. Naturally, not 

 owning the land, we cannot expect him to use the greatest of 

 care in maintaining the fertility. However, it would seem that 

 the fault lies with the farm owner in not caring to give the time 

 and supervision necessary to establish a proper system of rental. 

 In Table III are given the average capital, receipts, expenses 

 and labor income, of 722 tenant farmers found in the same dis- 

 tricts as the farmers operating their own land whose incomes 

 are shown in Table I. Tenants working under both share and 

 cash rental systems are included. 



TABLE III. THE AVERAGE CAPITAL, RECEIPTS, EXPENSES 

 AND INCOME OF 722 TENANT FARMERS 



Inasmuch as land and buildings constitute from 75 per cent 

 to 90 per cent of the total farm capital, the tenant's investment 

 is necessarily small, there being very few tenants having over 

 $5000 in working equipment. Hence the tenant's labor income 

 must be large enough to give him his living, the interest on his 

 investment being a very small item. 



We have seen how a farm owner can make a minus labor in- 

 come and still live, but the tenant must make wages or he cannot 



1 Bulletin 295, Cornell University. 



