FAEM OWNERSHIP AND TENANCY IX TEXAS. 



25 



Table 15. — Analysis of incomes of 343 black-land farms and farm operators, oy 



tenure classes. 



Item of income. 



For 62 



share 

 croppers. 



For 179 



share 

 tenants. 



For 26 

 owners 

 addi- 

 tional. 



owner- 

 operators. 



For 313 

 For 76 operators 



of all 

 tenure 

 classes. 



1. Farm income 1 



2. Farm income plus value of family living furnished 

 by farm and minus value of operator's labor ' 



3. Ratio of net return to the total farm capital 2 



$1,217 



1,255 

 13.4 



SI, 678 



1,812 

 11.4 



$1, 609 



1,866 

 8.2 



1,911 

 10.3 



$1, 607' 



1,734 

 11.3- 



4. Operator's labor income (interest charged on all 

 farm capital at 7J per cent) 



5. Operator's labor income, plus family living from 

 farm (interest at 7J per cent deducted) 



6. Operator's labor income plus family living from 

 farm (interest on capital in equipment at 7$ per cent 

 and on capital in land at 4* per cent deducted) 



7. Operator's rate of net return on his share of farm 

 capital 



8. Landlord's rate of net return on his share of farm 

 capital 



9. Actual disposable net income from labor of oper- 

 ator and family and from farm investment (interest 

 and rent when paid out not included 5 ) 



10. The family's net accumulation of wealth for the 

 year 



528 

 775 



(<) 



1,094 

 149 



702 

 1,120 



3 1, 128 



45.7 



5.6 



1,513 

 291 



-61 

 480 



731 

 11.2 

 7.2 



317 

 656 



1,293 



10.7 



1,( 



213 



2,429 

 613 



498 



906 



1,081 

 33.7 



5.8' 



1, 649' 

 327 



1 Xo interest on farm capital, whether borrowed or not, is deducted in these figures, and the data are- 

 based on the operated farm as a whole, regardless of the tenure of the operator. Each tenant or cropper 

 farm is here considered a farm as defined by the Census. The value of family labor on farm is considered 

 a farm expense. 



2 Calculated on the basis of item 2. 



n:e rent instead of interest is deducted in calculating the income of tenants, these figures are the same 

 as item 5 above, except for share tenants, 36 of whom had $31,824 invested in improvements on the farms 

 they operated which caused their labor income to be increased $8 on an average in item 6. 



* Croppers own no farm capital, hence no calculation was made for them. 



6 In this figure no allowance is made for rent and interest on farm capital unless these are actually paid 

 out. Therefore, the f gure for an owner-operator whose farm is not mortgaged has no rent or interest on 

 farm capital deducted, but for operators who actually paid either rent or interest, or both, these items were- 

 not included in the figure. 



On the other hand, the ratio of net return to the capital invested in 

 the cropper farm (item 3) was more than the ratio of net return to 

 capital for any of the other tenure classes, and in this regard share 

 tenant farms also exceeded the farms of owners. It would seem, 

 therefore, that net social wealth is increased proportionally most 

 when land is operated in the black land by tenants. 27 However, it 

 should be remembered that material wealth is sometimes created at 

 u loss to the intellectual, social, and political life of people; and, 

 judging from (he effects of tenancy on the education of tenants' chil- 

 dren (see pp. 56 60),such losses would far outweigh any possible in- 

 crease in <><-i:il wealth thai might result from an extension of tenancy 

 in the black land. 



The rate of net return on tin capita] invested in the farm can not 

 well be i ed as an indication of the relative efficiency of the operate 



"Tenanl farm bown havi ••' higher percental C the) 



irtion of farm capital in buildings, and do doubt lei land Ib u ed Id 



dwelll and other nonprodu I than I th< ca vlth fan iratei 



owners, tending to gi etnrn <>ii the capital Invested in the tenanl 



farm. With thl exception, however, it i doubtful if tbe less dlvei 

 tenanl yield o greater Del "-i.il gain on the capital 

 Oic- more d 



90872 22 i 



