130 ECONOMY OF FARMING. 



necessary instructions which may serve to guide him in his proceedings. He who 

 leases his landed property, passes from the rank of husbandman to that of the man 

 who lives on his rents (Rentier), and while he receives for his ground capital, 

 a definite income in money, or natural products, or a fixed proportion of the 

 rough amount of all, or of particular products of the farm, as in Italy and France, 

 troubles himself no more with the management of the farm. 



[Many of the preceding remarks apply more particularly to European life than to 

 that of this country, and therefore need to be partially modified to serve as directions 

 for our farmers and laborers ; though the principles on which they are based, as 

 well as the excellent spirit they exhibit, will commend them to the candor and good 

 sense of every reader. Tr.] 



C — OF THE FARM ACCOUNTS. 



1. Whether a man reaps profit or suffers loss from farming, and in what 

 proportion one or another branch of husbandry has to be employed for this 

 purpose, can be seen only by the accounts. Without an account one has 

 only conjectures ; by keeping an account he has clear ideas on the subject. 



2. The chief object of a Farm-Account is to show how large an interest 

 is paid by the capital vested in the farm. 



3. The Capital of the farm is of three kinds, viz. : that which consists 

 in the ground and soil, as well as in those buildings required for the business 

 of the farm, called the Ground- Capital, the interest of which is the Ground- 

 Rent ; that which consists in the movables, living as well as dead, neces- 

 sary for the management of the farm — cattle, tools, provisions for men and 

 beasts from one harvest to another, called the Inventory ; and the third, 

 which consists either in money, or in part in the surplus and saleable pro- 

 ducts of the farm, wherewith the current expenses for labor, taxes, and 

 necessary purchases, may be defrayed, and which is called the Stock- 

 Capital, or business fund. 



4. The income of the ground-capital is obtained by the sale or lease 

 of the estate. 



He who has bought his estate for 10.000 florins (= to $4.S00) must bring yearly 

 into the account the interest of this sum. at 3, 4, 5, or 6 per cent., accordingto the 

 rate of interest in the different countries. He who has leased his estate brings the 

 amount of the lease into the reckoning. 



5. The interest, or income of the inventory, must be reckoned double 

 that of the ground-capital, because its value lessens by age and use, is ex- 

 posed to more hazard, and frequently is lost before the time. 



6. The interest, or income of the stocJc-capital, is found by reckoning 

 up the interest of the ground and inventorial-capital, as well as all the 

 other expenses paid for the farm ; then all the receipts, and the difference 

 of the inventorial-capital of the last year from the present. 



An example may make this plainer : 



The value of the estate is supposed at ... 10,000 florins. 



" inventory, " .... 5,000 " 



EXPENDITURES. 



Interest on the ground capital-at 5 per cent. . . 500 " 



" inventory " 10 " . . . 500 " 

 Taxes, days'-wages, purchases, &c., which are called 



tlie outlay of the stock-capital, .... 4,000 " 



Sum of Expenditures, 



