286 



AGRICULTURAL ECONOMICS 



The 1 small farm has relatively more of its capital invested in 

 unproductive ways than does the large farm. No matter how small 

 the farm may be, the owner desires a respectable house. Table XII 

 shows that the smallest farms have 43 per cent of their capital in 

 houses; the largest farms have somewhat better houses, but .have 

 only 9 per cent of their capital thus invested. 



TABLE XH 



AREA RELATED TO INVESTMENT IN BUILDINGS. 578 FARMS, LIVINGSTON COUNTY, 



NEW YORK 



Similarly for barns, the smallest farms have 19 per cent of their 

 capital thus invested, whereas the largest farms have only n per cent 

 thus tied up. An equally good barn for 10 head of stock cost much 

 more than half as much as a barn for 20 head of stock. The largest 

 farms have only an investment in barns of $50 per animal unit, yet 

 observation leads to the conclusion that the stock on the larger places 

 is better housed than on the smaller farms, where the expense per 

 animal unit runs as high as $164. If interest, repairs, depreciation, 

 and insurance on a building amount to 10 per cent of the value, then 

 the housing cost per animal unit will vary from $16 per year on the 

 smallest farms to $5 per year on the largest. Figures from the Thir- 

 teenth Census indicate that these conditions are general. Farms of 

 less than 20 acres have 36 per cent of their capital invested in buildings 

 and machinery. Those of 100 to. 174 acres have only 17 per cent of 

 the money thus invested, yet they have much better buildings and 

 more machinery. 



1 The remaining paragraphs of this reading are from Bulletin 341 of the same 

 station, and are by the same author. 



