FARMING LOGGED-OFF UPLANDS !X WESTERN WASHINGTON. 23 
Table 20. — Comparison oft lemt nts ofra t worth ofsi tth rs at di 
Time of settlement. 
Before 
1898. 
L910-1915 
22 
36 
19.4 
11 
14.3 
27 
40 
2 6 
Real estate value, 1921 
S10, 816 
1,362 
1,217 
1,183 
$7, 622 
Working capital, 1921 
Total capital as of the farm, 19°1 
12,17^ 
10, 103 
9,007 
9,123 
7 706 
Real estate mortgage, 1921 
50 
89 
6 
178 
78 
593 
294 
] 648 
Other farm debts, 1921 
Total indebtedness as of the farm, 1921 
50 
95 
256 
887 
1 CSS 
Net worth as of the farm, 1921 
12, 12S 
10, 308 
8, 751 
8, 236 
6,018 
Original equity in the farm 
-135 
228 
862 
604 
1,587 
901 
2, 1 85 
696 
2,611 
1 054 
Original worth, as of the farm 
663 
1,466 
2,488 
2,881 
3,665 
Gain in net worth as of the farm since starting. 
11,465 
8, 842 
6,263 
5, 355 
2,353 
prises or put the money in banks for safe-keeping. When these are 
added to the increase in the farm equity and working capital, the 
earliest group of settlers have accumulated an average of $13,179 in 
their 28 years on the land. This is probably considerably more than 
the average lifetime accumulation of wealth by city wage earners of 
similar ability and industry. 
Eighty-six per cent of the settlers in the first group increased their 
net accumulation of wealth over $6,000. (See Table 21.) Of those 
who settled during the succeeding periods, the following proportions 
accumulated more than $6,000: Second period, 78 per cent; third 
period, 61 per cent; fourth period, 26 per cent, and the last, those 
who settled between 1915-1921, 5 per cent. 
Table 21. — Variation in accumulation of wealth by settlers at different periods. 
Number of settlers at specified times. 
\\ ealtfa accumulated. 
Before 
1S98. 
1S9S-1903 1904-1909 
1910-1915 1916-1921 
Sl.8,000 and over 
5 
1 
4 
5 
4 
2 
i 
$15,000 to $17,999 
3 
S12,000 to $14,999 
6 
7 
13 
3 
4 
17 
11 
1 
$9,000 to $1 1,999 
1 
$6,000 to $8,999 
2 2 
$3,000 to $5,999 
$0 t o $2,999 
3 S 
'.) 11 
11 24 
Wealth decreased 
3 
The settlers who have been on the land the longest show the great- 
est accumulation of money earned on the farm and not reinvested in 
the farm business. This includes money used for such investments 
as stocks, bonds, real estate, or money put into banks for safe-keeping; 
also money spent for such items as unusual trips, education, doctor 
bills, etc., which have taken considerable earnings from the farm. On 
the average, those who settled before 1898 accounted for $ 1 ,8 18 in this 
manner. Many of the settlers stated that practically all of this was 
made during the last five or six years.. Up until that time all earn- 
ings went toward the development of the farm and for running 
