FARM-MANAGEMENT SURVEY OF REPRESENTATIVE AREAS. 



21 



These men being free of debt are content to make only a moderate 

 living, even though their farms under ordinary management would 

 return double the income they now produce. 



The situation of a farm tenant is entirely different. He has his 

 capital in live stock, work horses, and machinery. These are an 

 expense to him unless used. They are the means whereby he can 

 utilize capital in the form of land. Generally, unless a tenant has 

 use for his teams and machinery he will dispose of them, as there is 

 always a market for such equipment. The tenant has a small capital, 

 and 5 per cent interest on it is not sufficient to give him a living; 

 hence he must receive wages for labor. The farm owner with large 

 capital may receive no labor income and only 2 per cent on his 

 investment, yet have a comfortable living. 



In Table XV the farms are divided according to the amount of the 

 tenant's capital, to show its relation to his labor income. 



Table XV. — Relation of the tenant's capital to his income on 21ft farms in 

 Indiana, Illinois, and Iowa. 





Number 

 of farms. 



Tenant's average. 



Tenant's capital. 



Number 

 of farms. 



Tenant's average. 



Tenant's capital. 



Capital. 



Labor 

 income. 



Capital. 



Labor 

 income. 



$500 and less 



$501 to $1,000 



$1,001 to $1,500 

 $1,501 to $2,000 



5 

 21 



44 

 48 



$324 



799 



1,271 



1,758 



$328 

 338 

 502 

 655 



$2,001 to $3,000 

 $3,001 to $4,000 

 $4,001 to $6,000 

 $6,001 and over 



66 



41 



14 



8 



$2, 439 

 3,415 

 4,808 

 8,657 



$915 

 1,095 

 1,796 

 2,879 



RELATION OF BOTH THE TENANT'S AND LANDLORD'S CAPITAL TO THEIR INCOME. 



Table XVI gives the relation of tenant's and landlord's capital to 

 the incomes they receive for the regions surveyed in each of the three 

 States. 



Table XVI. — Relation of the tenant's and the landlord's capital to the income 

 received on 247 farms in Indiana, Illinois, and Iowa. 



Operated by Tenants in Indiana (83 Farms). 



Tenant's capital. 



$500 and less 



$501 to $1,000 



$1,001 to $1,500 



$1,501 to $2,000 



$2,001 to $3,000 



$3,001 to $4,000 



$4,001 to $6,000 



Total or average for Indiana 



Number 

 of farms. 



Tenant's 

 average 

 capital. 



$324 

 ■ 750 

 1,263 

 1,726 

 2,381 

 3,324 

 4,770 



1,758 



Tenant's 



labor 

 income. 



312 



506 



765 



1,051 



1,217 



2,322 



755 



Landlord's 

 average 

 capital. 



$9, 492 

 9,940 

 12, 829 

 17, 679 

 22, 130 

 34, 904 

 54,088 



18, 425 



Landlord's 

 income on 

 investment. 



Per cent. 

 4.0 

 2.9 

 3.1 

 3.0 

 3.6 

 4.0 

 4.4 



3.5 



