056 AGRICULTURAL ECONOMICS 



Where the land is worked by share croppers or share renters the land- 

 lord's rate of interest often falls below 6 per cent, but when the yield is 

 good and the tenant makes a good return, the rate of interest sometimes 

 rises to more than three times that amount. 



It appears that the landlord can make better money, on the aver- 

 age, when he rents his land on some system of shares. The average 

 rate of interest received by the landlord from share croppers was 

 13.6 per cent; from share renters, n.8 per cent; and from cash 

 renters, 6 . 6 per cent. 



Table VIII shows the rate of interest received by landlords on 

 their investment hi farms whose tenants made each specified labor 

 income. The chart shown on p. 657 (Fig. 3) shows the relationship 

 graphically. 



TABLE vm 







The landlord made only i . i per cent on his investment in the case 

 of the share cropper who lost money and only 3 . i per cent where the 

 tenant made under $100, but the rate increased rapidly with the 

 tenant's labor income, and in the cases where the tenant made as 

 much as $1,000, he gave the landlord a return of over 25 per cent on 

 his investment. In case of the share renters the landlord in no group 

 averaged less than 7 . i per cent and his rate of interest rose as high 

 as 16.6 per cent where the tenant had a labor income as high as 

 $1,000. In the case of cash renters the landlord's rate of interest 

 varied within much narrower limits, the lowest being 5.7 per cent, 



