COST OF GROWING CORN 315 



tween the annual investment and the value of the crop 

 produced represents the profit of production or the 

 percentage of gain on the permanent investment. For 

 the benefit, however, of those who desire to include 

 interest or rent, the following table is presented, show- 

 ing the proper allowance for interest on capital in- 

 vested, at the rate of 6 per cent : 



COST WITH INTEREST INCLUDED 



Per acre 

 Annual investment (details above). ., .$5,057 



Interest on machinery investment 125 



Interest on the value of horses 089 



Interest on annual investment 303 



Interest on value of land 2.862 



Total $8,436 



Per bushel 215 



CONCLUSION 



The tabulations which have preceded have in- 

 cluded every item of cost of production, except an 

 allowance for annual repairs of buildings, fences and 

 farm roads, insurance and superintendence. The 

 allowance for these items must necessarily be a matter 

 of opinion only. Leaving them out of the question, 

 the data presented show that the cost of producing a 

 bushel of corn of the crop under record may be fairly 

 placed at I2.g cents, and if sold from the crib at 21.5 

 cents it would net the producer 6 per cent on his per- 

 manently invested capital. 



