234 FARM MANAGEMENT 



The average depreciation on a large number of horses 

 would, therefore, be a little over 8 per cent. Horses usu- 

 ally do little work before they are three years old, and do 

 not do full work until about 4 years old. For work ani- 

 mals, the depreciation would, therefore, average about 

 10 per cent. 



Horses usually rise in selling value until they are 4 or 5 

 years old. The selling value does not drop much until 

 they are 8 or 9 years old. If one buys horses of this age, 

 the depreciation will be much more than 10 per cent. 

 Probably 15 to 18 per cent is none too high to estimate on 

 horses 8 or 9 years old. Such a horse should certainly pay 

 for himself in 6 years. 



There is one basis for the high prices paid for 8-year-old 

 horses. Such horses, if sound, may last about as long in 

 cities as younger ones, but this is not true on farms. Usu- 

 ally it is better for a farmer to buy young horses. 



154. Depreciation on mules. Similar calculations 

 from the Census figures indicate that one colt must be 

 raised for each 13 mules, older than yearlings. 1 



This would indicate that, on the average, a mule lives 

 a year longer than a horse. This agrees with the popular 

 opinion. This is an important point in favor of mules. 



as on farms. There were 1,764,188 yearling colts. During the preceding 

 ten years, horses increased at the rate of 199,112 per year. Exports 

 exceeded imports by an average of 42,411 per year. The number of 

 colts raised seems to be enough to provide for 241,523 more horses, or 

 20,612,000. This would make 11.7 horses for each yearling colt. It 

 appears that the average two-year old colt may be expected to live 11 

 or 12 more years. Similar calculations from the 1900 Census indicate 

 that one colt raised for each 12.7 horses would keep up the supply. 



1 In 1910, there were 4, 027, 340 mules in the United States born before 

 1909. The average rate of increase for the preceding 10 years was 

 110,743 per year, and the average exports 14,313 per year. The 315,987 

 yearling colts appear to be sufficient to provide 4,152,399 mules, or 13.1 

 for each colt. 



