632 READINGS IN RURAL ECONOMICS 



The items of income about which no information is available are 

 the value of the milk and cream consumed on the home farm and 

 what the farmer earns for work outside his farm. In some regions 

 this latter item is important. Thousands of farmers receive a large 

 part of their income from labor done for others at times when they, 

 do not have profitable employment on their own farms. In other 

 sections of the country this item is unimportant. 



The item of expenditure about which no information is obtain- 

 able is the amount paid for the live stock purchased. This is a 

 very important item in those sections of the country where the 

 fattening of stock is practiced. It is also a considerable sum in 

 dairy regions, but in regions where no live stock except work 

 animals and a few head of miscellaneous stock are kept it is 

 not very important. 



It is probable that the average working life of a horse is from 

 eight to ten years. The average depreciation on work horses 

 would then be from about 12 per cent to 10 per cent annually. 

 Where work horses are the only animals kept, the expenditures 

 for the purchase of live stock would therefore probably not 

 average more than $15 or $20 per year per animal. It is impos- 

 sible to give even a rough estimate of their cost in regions 

 where live stock represent an important farm enterprise. The 

 data presented in the accompanying table should be interpreted 

 in the light of these omissions. 



THE AVERAGE FARM INVESTMENT 



The average area of the American farm in 19 10 was 138.1 

 acres. Of this area 75.2 acres are classed as improved land. 

 The average area devoted to crops is 49.77 acres. The total 

 average investment per farm is $6443.67, the amount in farm 

 buildings being $994.33 and that in implements and machinery 

 $198.88. 



RECEIPTS 



The data for the receipts of the farmer are obtained entirely 

 from the census returns. In this calculation the farm is credited 

 with the total value of dairy products, wool, mohair, eggs and 



