LAND TENURE AND LAND POLICY 655 



his time to production such as field work and feeding, etc., while the 

 landlord can use his time in buying and selling, etc. Data taken from 

 Iowa farms indicate that farm buildings on stock-share rented farms 

 are the most used and are the most adequate for keeping livestock. 

 Landlords generally are very slow in making permanent improvements 

 if they have no assurance that the buildings will be used and proper 

 care taken of them. 



Besides encouraging the most profitable types of farming and 

 maintaining the fertility of the soil, stock-share renting brings co- 

 operative effort between landlord and tenant instead of working 

 against each other. Every dollar made for the farm business is shared 

 equally, and the advance of the interests of the one means prosperity 

 for the other also. The "old people" are freed from the heavy labor 

 of the farm and given liberty to come and go, yet by retaining some 

 supervision of the farm its interests can be best conserved. The land- 

 lord associates freely with other men and has a greater opportunity 

 to learn when, where, and what to buy and sell, is interested in the 

 improvement of the farm, and is a booster and co-operator in the 

 interest of the farm. 



Two principal reasons for the success of stock-share renting are 

 adequate capital and capable supervision furnished by the landlord. 

 When the stock-share tenant accumulates adequate capital and 

 experience so that the assistance of the landlord is no longer needed, 

 it is to the interest of the tenant to rent for cash. In assuming more 

 risk and supervision he acquires more liberty in equipping and man- 

 aging the farm and obtains a large labor income. 



B. Division of Income between Landlord and Tenant 



208. LANDLORD'S RETURN IN RELATION TO TENANT'S 

 LABOR INCOME 1 



BY E. A. BOEGER* 



A study of 878 records relating to the business of tenants on plan- 

 tations in the Yazoo-Mississippi Delta, indicated that the landlord 

 is assured of a return of between 6 and j 'per cent on his investment where 

 the land is operated by cash renters, no matter what the yield or the 

 tenant's labor income may be. 



1 Adapted from Bulletin 337, United States Department of Agriculture, pp. 12-13'. 

 3 E. A. Goldenweiser, joint author. 



