58 MAKING A SUCCESSFUL START 



up on a farm has the training which gives him a general idea of the 

 subject in a practical way. If he desires to pursue poultry keeping 

 on an extensive scale, he should spend at least one season at some 

 large commercial plant, so that he may become familiar with the 

 planning and execution of the work under the right conditions. 

 If he intends to devote some time to a scientific study of the sub- 

 ject, it is advisable to acquire the practical experience first, as 

 he will thus get more out of the advanced training. 



To any poultry keeper, whether old or young, experienced or 

 inexperienced, the poultry press offers a fine field for the study 

 and expression of ideas and teachings. The reasons for this are 

 brought about by the constantly changing conditions. No mattQr 

 in which of the various ways he acquires his experience and train- 

 ing, if he is able to apply the factor of personal observation and 

 to deduce therefrom correct principles, the learner is well on the 

 road to success. 



Land, Labor, and Capital. Success in any branch of agricul- 

 ture is dependent largely on the proper adjustment of three eco- 

 nomic factors, land, labor, and capital. The poultryman's 

 capital may be considered as either fixed or circulating. 



Fixed capital is the term applied to investment in permanent 

 equipment, as land, buildings, teams, appliances, tools, and 

 machinery things which are constantly used in production. 



Circulating capital is limited to that which is consumed in the 

 process of production, and which is being used up and replaced 

 by material of the same kind, or which having been returned is 

 being reinvested. It is this form of capital which is constantly 

 changing, each time coming back with increase, provided the 

 business is conducted at a profit. 



The Poultryman's Capital. The following classification may 

 serve to illustrate: 



1. Fixed capital or permanent investment: 



(a) Land: Natural value plus all permanent improvements, such as 

 roads, fences, wells, drains, and orchards. 



(6) Buildings: Dwelling; farm buildings, as barn; poultry buildings, as 

 henhouses, feed houses, and incubator cellar; building equipment which is a 

 permanent part of the building, or fixtures. 



(c) Equipment: Team; implements for working the land; incubators and 

 brooders; fowls which are used in production excluding young birds and 

 birds grown for meat only. 



2. Circulating capital: 



Feed, seeds, and miscellaneous supplies; market eggs or live poultry grow- 

 ing or unsold; money on hand which is required to pay labor and carry on the 

 business. 



