COTTON 209 
valued at about seventy-five dollars; a total of five 
hundred and twenty-five dollars,—a reasonably 
low estimate, you will admit. On this amount 
taxes will be three dollars. 
Interest:—The investment should realize six 
per cent.: this is a simple business proposition 
with banks, as well as with all investing enterprises. 
This calls for a charge against cotton for thirty 
dollars. 
Depreciation:—The average working life of a 
horse or mule is ten years; therefore the cotton crop 
here must make good an annual depreciation of fif- 
teen dollars, and also keep in repair stock, imple- 
ments, and tools, which on the cotton farm is at 
least ten dollars, or a total of twenty-five dollars. 
Maintenance:—At least twenty-five cents per 
acre is expended each year in maintaining the land. 
Terraces must be kept up, ditches must be opened, 
brush and shrubs cleaned away: a cost here of five 
dollars annually. Then the horse must be fed 
throughout the year. At least half the time he is 
non-supporting, and cotton should pay his bill for 
board. The occasional use will cover his care. 
Hence a charge of forty dollars is to be made: a 
total of forty-five dollars for the yearly expense of 
maintenance of land and stock. 
We get then the following additional amounts 
that must be included in the cost of cotton pro- 
duction: 
HR aKa blOM wee eee Maes etree ce ony $3 .00 
UNereStee codecs a Stee eas 30.00 
Depreciatlonin .24 Gise san ayes 25.00 
Maintenance................... 45.00 
SPOtaPS eo ices cep cae obec $103 .00 
Cost Der aele nigeria ae 5.15 
