14 
BULLETIN 1068, U. S. DEPARTMENT OF AGRICULTURE. 
in total farm value which was caused mainly by a reduction in the 
size of the farm. 
Table 8. — Total value of the average black land farm, and distribution of this 
value, by decades, since I860. 1 
Census year. 
Average 
acres per 
farm. 
Average 
total 
farm 
value. 
Per cent 
of farm 
value in 
land and 
buildings. 
Per cent 
of farm 
value in 
equip- 
ment. 
Per cent 
of farm 
value in 
machin- 
ery. 
Per cert 
of farm 
value in 
live 
stock. 
I860 
533.3 
225.7 
133. 1 
114.3 
91.8 
96.0 
90.6 
$4,860 
1,923 
1,532 
2,493 
2,730 
5,306 
11,694 
61.5 
63.9 
78.8 
81.4 . 
82.8 
86.6 
90.3 
38.5 
36.1 
21.2 
18.6 
17.2 
13.4 
9.7 
3.5 
2.6 
4.2 
2.8 
3.7 
2.7 
3.2 
35 
1870 
33 5 
1880 
1890 
1900 
[[]\]\. [[[\[[[. \..\[.\.. [....[[.. 
17.0 
15.8 
13.5 
1910 
10.7 
1920 
6.5 
Computed from United States Census data. 
12o0 
1370 
1330 
1390 
1900 
1910 
1920 
Fig. 3. — Movement of the value of land, equipment, and labor used on the average 
black land farm, by decades since 1860. 
Prior to ±890 the size of the farm and the system of farming 
changed so radically that the actual and relative amounts of capital 
in land and buildings and in equipment were greatly affected. How- 
ever, since 1390 farm values have been affected very little by changes 
in size of farm and in the system of farming, and land values have 
gradually and consistently increased in proportion to equipment 
values. This increase possibly indicates to a certain extent the rela- 
tive future trend of the values of equipment and land if the present 
system of farming is maintained. 
If equipment value were the only value contributed to the farm 
business by the tenant, an equitable adjustment of rents would have 
