FARM PROFITS. 



31 



•sented in the business is rather large and where the operations are 

 carried on without a large cash outlay, the interest may be of sufficient 

 amount to make the business apparently prosperous even though 

 the farmer's labor income is low. 



CURRENT EXPENSES 

 INTEREST ON CAPITAL 

 UNPAID FAMILY LABOR 



FARMER'S LABOR INCOME 



VALUE- FOOD. FUEL, HOUSE RENT 

 FURNISHED BY FARM FOR FAMILXUSE 



( ESTIMATED ) 



Fig. 12.— Distribution of the gross income on 100 farms in Forest and Johnson townships, Clinton County, 

 Ind. The farmer has money invested and is entitled to a gross income of sufficient size to pay interest 

 upon investment as well as pay for his own labor and supervision. The interest upon investment may 

 enable a farmer to have a considerable income to spend, if free from debt, even though his own wages 

 (labor income) may be very small. For the years 1916, 1917, and 1918 the gross income increased more 

 than expenses, thus giving the farmers a better labor income than in previous years. 



