210 
COTTON 
This estimate is based on a cotton farm of twenty 
acres which produces an average of 200 pounds of 
lint cotton per acre or 4,000 pounds as a total prod- 
uct. These additional charges now should be 
added to the expense incurred during the six 
months of the growing season. When this addi- 
tional cost, on basis of calculation suggested, is 
included in the expense, we have obtained a figure 
that reasonably represents the cost per pound of 
cotton production as follows: 
Cost Farm A Farm B Farm C Farm D Farm E All Others 
Growing 5.8 6.7 4.2 5.8 4.8 6.2 
Additional 1.5 1.4 1.7 2.6 2.0 1.7 
Totals 7.3 8.1 5.9 8.4 6.8 7.9 
DIFFERENCE BETWEEN COST AND MARKET 
PRICE 
So far in our estimate no allowance has been 
made for directive effort save in that of labor itself. 
But this the cotton farmer is entitled to, since he is 
both a laborer and a capitalist; when considered in 
connection with the value of his product, to a 
considerable extent, he is both. The difference re- 
maining between the cost of production and market 
value of the crop comes now as profit to cover such 
charges as are included in superintendency, in the 
duties of the producer as a citizen, in the risks he 
runs as to profit or loss in his enterprise, and in 
accumulating gain. 
RELATION OF OTHER EMPLOYMENT TO COTTON 
PRODUCTION 
The cotton farmer has a perfect right to carry on 
