largely in live-stock production, and that through some cause 

 feed prices advance to such a point that there is more money 

 in selling the raw product than in feeding. Under such condi- 

 tions a large number of far-seeing farmers will quickly curtail 

 their live-stock industry and become sellers of raw products. 

 This, in turn, has a tendency to reduce feed prices and to 

 increase the price of live-stock products, thus bringing about 

 the old balance. 



The farming business which is of efficient size, and which is 

 made up of diverse units, put together in such a way as to 

 operate smoothly'' and well, with full employment of both 

 labor and horse and machinery equipment, provided supervi- 

 sion is adequate and the enterprises making up the farm are 

 selected wisely and are efficient, complies closely with the out- 

 standing factors of profit. 



In order properly to understand the application of the fore- 

 going principles of farm management to the agriculture of 

 southern New England, a brief review of the economic history 

 of the agriculture of the region is in order. 



New England agriculture was established at a time of hand 

 work. The family farm necessarily had to be small, that is, 

 within the limits of what they could do by hand. This was 

 also before the days of big factories. There being no large 

 cities there was very little market for farm products. The 

 farmers therefore very naturally fell into the habit of utiliz- 

 ing the long winters in manufacturing small articles for home 

 consumption and for sale. Under these conditions the New 

 England farmer prospered. Such conditions continued until set- 

 tlement west of the Allegheny Mountains began and transpor- 

 tation developed. When the Erie Canal was completed the 

 New England farmer began to feel the press of competition 

 from the west. A little later the railroads extended into the 

 west, and then the New England farmer found himself hard 

 pressed. 



Just about this time the reaper, the mower and the steel 

 mouldboard plow were invented. The western farm was large, 

 fertile, level, free from stones, and admirably adapted to the 

 use of machinery. One of these western farmers could produce 

 under such conditions three or four times as much beef or 



