4 BULLETIN 1068, U. S. DEPARTMENT OF AGRICULTURE. 



The net return to the owners of rented land was 5.9 per cent on capi- 

 tal invested. Aside from this return, increases in land values, for all 

 land bought in the black land by the operators interviewed, equaled 

 a net compound annual interest of from 8 to 9 per cent on the origi- 

 nal investment. 



On the basis of the average net accumulation of wealth in 1919, 

 and the average value of farms operated, it would require the aver- 

 age share tenant interviewed approximately 28 years to pay for the 

 farm he operated. 



The different tenure stages function not only as stepping-stones in 

 tenure progress but they function also as selective agencies, tending 

 to keep the operators of least ability in the lower stages. 



The ability of different operators to accumulate wealth varied 

 widely. Fourteen operators (or 3.8 per cent of all interviewed) 

 together saved annually as much as 238 other operators (or 64.8 per 

 cent of all interviewed) who ranked among the least thrifty. 



The group of operators who accumulated wealth most rapidly in- 

 cluded those who had been most consistent in the application of their 

 time to operating farms, had the most diversification of farm enter- 

 prises, raised the largest amounts of family food on the farm, and 

 moved least frequently from farm to farm. 



Comparative data on school records of children of owners and 

 tenants show the record for children of owners to be much better than 

 that of children of tenants. 



THE DEVELOPMENT OF TENURE PROBLEMS IN THE BLACK 



LAND. 



EXTENT AND GROWTH OF TENANCY IN THE AREA. 



It will be noted from Table 1 that there have been two well-defined 

 periods in the growth of tenancy in the black land since 1880, the 

 first 20 years being a period of very rapid increase in tenancy, 

 and the last 20 years marked by a decided falling off in the rate of 

 increase. During the first period the percentage of all farms that 

 were operated by tenants increased from 41.8 to 61.5, an increase of. 

 19.7, while during the last period the increase was from 61.5 to 66.1, 

 an increase of only 4.6 per cent. 



Because of its bearing on discussions to follow, it is significant to 

 note the fact that of the total increase in number of farms, or farm 

 operators, from 1880 to 1920, 88.4 per cent took place during the first 

 20 years, the years when tenancy was increasing most rapidly. 



By 1920, 66.1 per cent of all farms in the black land, or nearly two 

 out of every three, were operated by tenants. Moreover, tenants oper- 

 ated 64 per cent of the total area in farms in the black land, and the 

 value of the land and buildings of the farms which they operated 

 was 60 per cent of the total farm value in the area. 



