12 
After deducting from 5 to 10 per cent of the farm area for land 
taken up by woodland, building lots, roads, and streams, practically 
20 per cent of the farm area in the first group of farms is unim- 
proved. The percentage of unimproved land gradually increases 
throughout the different groups to practically 60 per cent in the last 
two groups. The chief expense of carrying this unimproved land 
$1600 
1400 
1200 
I00O 
, 800 
£ 
O 

z 
- 600 
400 
200 

ZOO 
y 
y 
y 
y 
y 
y 
s 
y 
y 
y 
y 
s 
/ 
/ 
/ 
/ 
/ 
t 
/ 
/ 
y' 
y- 

_- 

y" 
/ 
/ 
/ 
y 
rf 
* 
of*-**" 
/ 
r 
*" 
\y 
O40 
y^^ 
ZO 40 60 80 100 120 140 160 
ACRES. 
Fig. 6.— Relation of tillable area to income. (Average of 801 farms in northern Michigan, Wisconsin, and 
Minnesota.) 
consists of taxes and interest. In figuring profits from a business 
standpoint, interest on the investment in land must be considered. 
The wisdom of owning a large acreage of unimproved land depends 
largely on the prospect of future advance in price of land and the 
rapidity with which such land can be developed. Wherever possible 
unimproved land should be made to yield some returns. On many 
of these farms some income can be derived from the sale of lumber, 
wood, and fence posts. In this way these lands furnish profitable 
employment during the winter season. As fast as possible unim- 
