272 AGRICULTURAL ECONOMICS 



Points to be considered in renting land. The first point to 

 be considered by the landlord is the character of the tenant 

 to whose care he is to commit his farm. Honesty is the first 

 essential, without which the farm may be damaged within a 

 year to an amount greater than the annual rent. 



Young men who desire to succeed as tenant farmers cannot 

 have the importance of honesty too strongly impressed upon 

 them. The efficient young man who is honest finds no difficulty 

 in gaining control of land and capital, but no one with capital 

 will have anything to do with a dishonest tenant if he knows him 

 and can get any one else. Many men do things which they 

 count very shrewd, but which at once puts them in the class 

 of men who have to be watched, and it is a general principle 

 that the greater the risk the higher the rate of profit which 

 the capitalist should demand. The honesty of the tenant in- 

 sures the landlord against the losses he is in danger of sus- 

 taining if the tenant is dishonest. The landlord can afford, and 

 is usually willing, to pay a liberal premium for this insurance. 



Efficiency is equally important. If the farm is let on shares, 

 the income of the landlord is dependent upon the efficiency of the 

 tenant. If let for cash, it is much better to have a capable 

 tenant who can pay the rent with ease, since the reputation of 

 the farm depends upon the success of the tenant. Every tenant 

 has a record, — look into this record before making a contract. 



The tenant should be in possession of a requisite amount of 

 capital to operate the farm effectively. This amount will de- 

 pend upon the type of farming and the form of tenure. It 

 is a common practice for the landlord to supply a large 

 proportion of the operating capital where he is assured of the 

 honesty and efficiency of the tenant. It does not make so 

 much difference who provides the capital, the important thing 

 is that the capital certainly be provided. 



The Farm and the Landlord 



In choosing a farm, consider its suitability to the type of 

 farming most congenial to the tenant, location with respect to 

 markets, schools, etc., the qualities of the soil, the arrangement 



