FARM MANAGEMENT PRACTICE OF CHESTER COUNTY, PA. 71 
income of 7.3 per cent, the average labor income of the 378 owners 
js $548. Under similar conditions the average labor income of the 
124 tenant farmers is $739. 
TABLE XXXVII.—A comparison of the labor income of owners and tenants by 
allowing 7.3 per cent interest on the total farm investment, instead of 5 per 
cent (7.38 per cent is the average rate of the landlord’s interest on invest- 
ment) ; survey 1912, Chester County. : 
Per farm. 
Number | Number 
: of of = Se 
arms. acres. : arm abor 
Capital. income. | income. 
RON MEL Sr eT oan tee Sern in Mee Geto Semi e aiticiure 378 90 | $10, 486 $1, 313 $548 
‘TM GINIS 3 Aaisee pase tie ee te eer lesen ee arene 124 106 12, 030 1,617 739 
Approximately half of this difference is due to the fact that the 
tenant farms on the average are more than one and one-fourth times 
as large as the average of the owned farms, but part is also probably 
due to the fact that the tenant farms on the average have a larger 
number of dairy cows, usually of somewhat more than average quality. 
While these tenants make larger labor incomes than the owners, it 
must be remembered that the owners have the interest on their invest- 
ment in addition to this labor income, so that the owner’s families 
have larger total incomes than those of the tenants. 
This bulletin contains ample evidence that the young farmer who 
has relatively little capital will find it to his best interests to become a 
tenant on a farm of considerable magnitude rather than to undertake 
the same type of farming on a much smaller farm which his capital 
‘might enable him to own. 
RELATION OF TENANTS’ LABOR INCOME TO SIZE OF FARM AND TO TYPE OF 
TENANCY. 
_ Of the 124 tenants whose business was analyzed in this survey 53 
were cash and 71 share tenants (see Table XXXVIII). On the 
whole, the average size of farms operated by cash tenants was smaller 
than that operated by share tenants. 
TABLE XXXVIII.—Relation of size of farm to tenant’s labor income; capital 
allowed 5 per cent interest. 
Cash tenants. Share tenants. 
Size of farm, i | ; 
ize of farm, in acres. 
: Se Average | Labor Number Average | Labor 
SaTSRS. capital. | income. factacee capital. | income. 
EMU OS en cP oe ye ooo: 7 $1, 024 $487 9 $925 $428 
J. iD LUD cles ese ee 15 2,219 807 21 7S} 499 
vu ab LGD. 25 Eee a ieee ee ee 14 3, 696 1,411 31 eS iiill 766 
el 16) SUD ae goes ge 7 4,219 1, 499 10 2, 857 944 
SIDED SOL Ss Spe eee a a eee et 53 2,490 954 71 | 2,061 669 
