INTRODUCTION 7 



building sufficiently good for the production of 

 certified milk, with some thought for architec- 

 tural design, can be erected for a charge of 

 $100.00 per cow. This is the fair ' ' farm value ' ' 

 of a barn for cows, unchanged by its actual cost. 



We must differentiate clearly between the 

 business of farming and the purchase or mak- 

 ing of a home. Any expense which one can af- 

 ford is justified in the latter, but every last cent 

 should be counted in the reckoning of the for- 

 mer. When one selects a site for a manufactur- 

 ing plant, no report is made of the magnificent 

 sunset over the bay. The bay is spoken of in 

 terms of cheap transportation. 



It was only when the investigators collected 

 the data from a large number of farms and 

 worked out their principles from facts rather 

 than deducing them from theories that they 

 found out how simple the fundamentals were. 



The more capital, the bigger will be the re- 

 turns ; the larger the business, the more econo- 

 mies that can be introduced and consequently 

 the higher the ratio of profits ; the more hours 

 of the man's time profitably employed, the 



