The Anderson intelligencer. [volume] (Anderson Court House, S.C.) 1860-1914, 1889-10-10
Tor tie In:eiiiync.r.
WORDS OF WISDOM.
Some nf The Principles "f Political Ec"nc-
my Applied to Agriculture

But the cost Of these farm supplies,
with interest, must he deducted from the
proceeds of the sale oflhe crop, and then
the question is, whether the farmer
makes any clear profit after q fair allow
ance for the rent Of his land, the interest
upan lis capital, and the wages of the
!aJorers. This is done by the merchant,
the manufacturer, aud ail others engaged
il the various branches Of industry. e
the merchant in the prosecution Of his
business finds at the end Of the year tha.
he has succeeded in paying the rent oi.
his store roam, the wages of his clerks,
and oihet employees, and that he has
replaced lis capital, with interest, and
nothing more, he WILDE dissatisfied With
the result, aud come to the conclusion
that he sooner he qui:s the bust.
ness the better it will be for him,
lie will hnd that he has not been com
pensa.cd for the risk incurred, and the
time and labor bestowed in the prosecu.
tion Of the business, aud that the same
amouu! of capital invested at interest, on
good real or personal security, would
yield him the same income without any
labor or trouble whatever. This is true
in reference to all the other branches of
industry. The farmer must likewise
replace his capital. with interest, after all
expenses are paid, and make a clear
profit besides, or the business Of farming
cannot be profitable.
The three agents Of production are
land, capital aud labor The farmer
must Increase the value of his land by
the erection Of The necessary dwelling
houses and ou,buildings, and by manur-
ing it so as to increase its productive
powers, and the crop must furnish the
means Of eliecting these imp!o:em meu's.
This lie cannot neglect, because it is one
OF The conditions of his prosperity. Say,
in his political economy, says that tie
other items of his capital consist Of farm.
ing implements aud machinery, the live
stock employed in tilIing the soil,
the seed grain and provisions OF
difitrent kinds necessary for the support
the working animals and laboreTs dur
ing The progress Of the work, and money
enough 10 pay The Wages of the laborcrs.
That some Of these item, of capital may
last fer years, such as the buildings on
the land, farming implements and beasts
OF busbandry, and THAI they must be
kept ur and renovated, Is occasion may
require, a! the expense of the annual
produce CT the concern; but that the seed
grain and provisions Of different kiadS,
and the money f,r the laborers wages are
consumed and destroyed during the pro-
grcs4 Of tie work; but that they are not
lost if the cui;iyator after dcducing
from Tue produce the rent of the land,
the interest ofhs c,rilal, and the wages
OF The lahorers, cnr!rire % make the an
nua! produce replaca them, so as=lc pu!
him in possession Of q value equal to
what Inc started wtl tie preceding year.
# will be perceived, from li:ese propcsi-
tons, that The aniual crop mus, be suf-
fcient to defray III. expenses ST keeping
up and rsnovstiag tbs capital, including
The purchase Of live stock, that it.must
restore these items Of csrital that are
consumed iii is production, and thai It
must cover t;.e items Of rent, Interest
aud !aborers wages. II it does this and
nothing more, the farmer has lost moth.
ing, because tie crap pra!nce'l has put
him in possession of Il yaue equal to
What he started with If it doc; not do
this he capital ha, been encr"achfd 1n,
anil lhis Garnet occur without loss. But,
itafler all these allowances are made i:
is Sufficient 70 yield him clear profit
besides, then it is and then only, that
farming l.. I7oliabl and to the extent
of Ibis profit there has been an actual
increase and accession Of capital How
obyi1us il is that the farmer should keep
his books Of accounts, stating h,reccipts
and expenditures ii he would know
whether his busines: is profitable or not.
1t would, perhaps, induce the practice Of
that economy so necessary to his prosper
i.y. But let US make calculation for
th= purpose of asceltaining, as nearly as
practicable. whether he is accomplishing
tbz.e rtsli!ls We will take the year
1880, as the census for that year fur
ni;!cs most Of the items necessary Tor
such culculation M deductions will be
Inade Of the expenses of purchasing
working animals or otherwise reuovaing
or keeping UP the capital, as no informa
ton On that subject is to be had, nor OF
chattel mortgages under one hundred
dollars given for agricultural advances,
rs the index to that class of mort cages
did not, at that time, furnish lis with
their respective amounts IS i. now does,
50 that tie result viii te ,arger than it
ought to le. 1t may lie remarked, how
ey.r, i'll passing, that one Of the items of
expense in keeping up the capital, was
that Of building and repairing tynce.,
which at that time cost the people of the
County the sum Of Sl0,G29, an expense
from which they have beer relieved 10y
the wise adoption of what is commonly
known rs the no fence law
The census oi 1889 states that the value
Of ali firm produces sold, consumed, and
on Land lor 1879 was 81 Goo, l02, 81 ;Iiat
we hayc the va,uc o the crop OF ta;.t
year, and Ills, upon the plnciple stated,
ought II iiaye been -tiiieien; 10 cover all
the items Of expense in Eccping up tie
capital, aud all the allowances for rent,
| interest and wages above mentioned. aud