{2 BULLETIN 341, U. §. DEPARTMENT OF AGRICULTURE. 
Nevertheless the cash tenants made an average labor income of $954 
as compared with $669 for the share tenants, allowing capital 5 per 
cent interest. As was to be expected, the cash tenants had on the © 
average considerably more capital than the share tenants. The share — 
tenant is usually such because of the small amount of his capital. 
The tenant who has capital enough to pay cash rent for a farm ap- 
proximately as large as he wants is inclined to do so because of the 
greater freedom he thus acquires in his farm operations. He has 
greater economic independence than the share tenant, and in order to _ 
be able to pay cash rent he selects on the average a somewhat smaller 
farm. From the standpoint of the tenant cash rent is more satisfac- — 
tory than share rent. From the standpoint of the landlord the reverse _ 
is true. In the case of the share renter the landlord is entitled toa 
larger income on his investment because of the greater responsibility 
he assumes. For similar reasons the cash tenant is entitled to and re- 
celves a larger income than the share tenant. s| 
Table XX XIX shows the relation of the landlord’s profits to the ‘ 
size of farm and to the type of tenancy. There is not much differ- — 
ence in the percentage of the landlord’s income on farms of different — 
size, except in the case of the very small farms, where the landlord’s 4 
income is less for both types of tenancy. In the case of the cash 2| 
tenant the average profits of the landlord are only 3.92 per cent on 
his investment, while in the case of the share tenant it is 8.81 per cent. 
| 
TaBlrE XXNXIX.—Relation of size of farm to landlord’s profits on 124 farms 
operated by tenants. 2 | 
Per farm. 4 
qa 
Cash rent. Share rent. 4 
Size of farms, in acres. = | 
- Per cent | + Per cent 
| Number | Average - _| Number | Average 2 e 
‘offarms. | capital. aneee e farms. | capital pene | 
ee 
Gprnlecsass sons ese sp ee fe 17} $83,581} 3.09 9| $6,370 6.91 
GUE AOTEE oleae. M Sse eae Cie OE 15 | >> e723 | aiae 21| 9/181 8.02 
TE TTY Re aa Some OE Fearn ieee 14| 10,010| 4.39 31 | 12,777 9.48 a | 
feito oot ts rote eee, es Sr 7) ekisSay 4.15 10| 19,263 8. 82m | 
verice: oes Seek. Tees 53| 7,082 3.92 | 71 | 11, 803 | 8.81 4 
The actual amount of the landlord’s income increases, therefore, in 
about the same proportion as the size of the business increases, while 
the percentage profit remains approximately constant. The tenant’s — 
labor income, as was shown in Table XX XVIII, increases markedly e | 
with increase in the size of the business, as was found to be the case ? 
on farms operated by their owners. : 
i 
