34 BULLETIN 694, U. S. DEPARTMENT OF AGRICULTURE. 
available, so that this change may be made without assuming too 
great a financial obligation. Neglect to do this often results in 
hardship and sometimes in financial difficulties which are hard to 
overcome. When to give up renting and become an owner, whether 
a man with small capital should buy a small farm or rent one of — 
greater acreage until he has accumulated sufficient capital to acquires — 
a farm of suitabJe size, are often serious questions. The data 
gathered in this connection in Lenawee County show what is actually 
taking piace in that region. 
TaBLeE XVII.—Relation of tenure, with a given amount of capital, to income, Lenawee 
; County, Mich. 
| 
= Acres of land per Average farm in- Average la 
Number of farms. | farm. . | cone! ee 
Operator’s capital. | | 
Working Working Working Workin 7 
ee | Tenants. owners. | Tenants. Es Tenants. ae _ Tenants. F 
$1,000 or less. ...--..-- einen 3 3a Seas 81 | Jussscee=s $413 | Wes Beige es $376 
$1,001 to $2,000. ....-.| 4 88 | 29 | 126 $296 622 $210 548 
$2,001 to $3,000. ...-.-- 5 23 | 38 | 182 375 971 244 | 852 
$3,001 to $5,000. ....-- 24 5 | 42 | 231 392 1, 266 187 | 1,094 
$5,001 to $7,000. ...-.- 34 2 | 61 183 655 1,648 351 1,366 
$7,001 to $9,000......- Le! (ie rep ee ds | eee G894ke zs ossts 2895. cae ee 
$9,001 to $11,000. ..... cs 5 | eee ror: SO Seeee. Sete 9897) es eee ARS, Ua ce uae 
$11,001 to $14,000. ...-. AT Aen ee OAS ea eee ee 1S eee eee 525, eae 
$14,001 to $17,000. ..-. Dit iehosee = Aes IR Oi Seen ae | i a Kc an Pare ete = 490 ie ae 
$17,001 to $25,000. .._.! AQYS See 2 1A ees ee ee || 1 GYOM = =e a se 667 Lc 
Oiver'$25:000252555 2. = iim etn eae Fea il eae ae ae ee OS ADT eae eee 1 0284. 2 
Jal bls iero6 ole Ae 3, 000 153 104 | 128 1,069 661 481 583° 
Table XVII shows that of all the farms surveyed there were no 
owners operating with $1,000 or less capital. There were 35 operated 
by tenants each of whom had not more than $1,000 at his disposal. 
The average area of the farms operated by these tenants was 81 
acres, and the farm income averaged $413 per farm. Allowing 5 
per cent interest on the capital, the average tenant made a labor | 
income of $376. This shows that, in general, it is possible in this _ 
section to rent and manage a farm of fairly good acreage when a ~ 
capital approximating $1,000 has been accumulated, and that in 
addition to making a reasonable rate of interest on this capital it is" 
possible to realize a labor income slightly above the wage of a hired  ~ 
hand, which in this region averages about $360 per year. - 
There were only four owner-farms which were operated with 
capital of from $1,001 to $2,000, whereas there were 88 tenant farms 
in the same class. It will be noted that there is a material increase 
in the number of tenants whose capital falls between these limits as 
compared with those having $1,000 or less. It should be observed 
also that the average acreage of the owner-farms is very small, only — 
29 acres, while that of the tenant farms is 126 acres. The ownersin 
this class made an average total farm income of $296, while the renter 
made a farm income of $622. After taking out 5 per cent mterest _ 
