THE tenant's share 89 



economics of farming. The remaining seventy-six are 

 accounts of tenant farmers for various periods of years, 

 from twenty-six down to one year. 



As has been already indicated, these accounts include 

 a large percentage of accounts from men who have had 

 exceptional advantages in farming, so that a strong 

 presumption may fairly exist, that they put the relations 

 of farmers' profits to rents in a much more favourable 

 light than if we had before us the accounts of the unfor- 

 tunate men who have broken and gone, or are still in 

 occupation, but reported to be on the verge of insolvency 

 in many districts. In any case it cannot be held that 

 the accounts sent in represent an exceptional or un- 

 favourable sample of the present position. 



These 76 farm accounts cover an area in all of 42,966 

 acres. Five of these accounts, covering 4025 acres, only 

 give profits and losses, and do not give detailed items of 

 outgoings. The accounts for 38,941 acres give the 

 details of the outgoings with sufficient precision, except 

 that, in two accounts, the value of produce taken from 

 the farm and used in the farmer's house is set down on 

 the side of expenditure, and not on the side of receipts, 

 where it should appear. Correcting this error, we find 

 that the whole area of 42,966 acres has been farmed with 

 the result that while the total average profits on some 

 of the farms amounted to £6sSSy the total average losses 

 on other of these farms amounted to ;^6452, or a net 

 average profit over the whole area of ;i^ioi. 



Taking the 71 accounts which give detailed items, it 

 is found that over the area of 38,941 acres, the average 

 total outgoings per annum were ;i^2 14,964, or about 

 ;^5 14s per acre. 



Of these outgoings, the average annual amount paid 

 for labour was ;!^47,oo9, or 21 '9 per cent., or about 

 jCi 4s 6d per acre ; for feeding stuffs, manures and 

 seeds, ^^"47,548, or 22*5 per cent, or about ^i 5s per 

 acre. Rents took up, on the average, ;^39,530 per 

 annum, or i8'5 per cent, of the outgoings, or about 

 ;^i OS 7|d per acre. The total average annual profits 

 over the 38,941 acres were ^^"6468, and the total average 



