Contribution from the Office of Farm Management and 
Farm Economics. 
H. C. TAYLOR, Chief 
Washington, D. C. PROFESSIONAL PAPER December 30, 1920 
FARM PROFITS—FIGURES FROM THE SAME FARMS FOR A 
SERIES OF YEARS. 
Washington County, Ohio, 25 Farms, 1912-1918. 
Clinton County, Ind., 100 Farms, 1910 and 1913-1918. 
Dane County, Wis., 60 Farms, 1913-1917. 
By H. M. Dixon, Associate Farm Economist, and H. W. HawtHorne, Assistant 
Farm Economist. 
CONTENTS. 
Page. Page. 
1 
3 
"SIU DOT OANA See SE ae Ea ea 5 | Good management increases profits......... 55 
7 
INTRODUCTION. 
Are many farmers making large profits ? 
Are there many farmers who are making only a bare living? 
How much do farmers make ? 
: Have farmers’ profits been greater during the recent years of rela- 
tively high prices for farm products than during former years of 
lower prices ? 
These are live questions, which concern everyone, farmers and 
city folk alike, and there are current many widely varying opinions 
about them. This bulletin, presenting facts as determined by 
repeated business analysis of groups of farms in three fairly distinct 
agricultural areas, is designed to throw light on these and other 
questions that arise in this connection. 
While the findings of this study will not justify making flat general- 
izations as to what the profits of farming are for the country as a 
whole, they should have weight in the consideration of the general 
problem, since they represent the results of continuous studies in 
farm profits covering a longer period of years than any other thus 
13648°—20—Bull. 920——1 
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RTF 
