The daily star-mirror. (Moscow, Idaho) 1911-1939, 1920-12-18
BANKERS OF IDAHO
WILL HELP FARMERS
SIMPLE METHODS OF BOOKKEEP-
ING TO BE TAUGHT BY BANKS
AND UNIVERSITY.

Idaho banks are to help Idaho farm
ers with simple but adequate systems
or bookkeeping as first step to put
ting their farming business on a pay
ing basis, according to a statement
by G. G. Taylor, farm management
demOnStratOr, OF the University of
Idaho extension division.
Only S741 a year was the 1909 net
income OF the average farm family in
Idaho, says Mr.. Taylor's Lament.
This allows the family only Sl8 for
its years labor, provided Z per mt
interest is allowed on the money in
vested in the farm. Since prices, as
a whole, have just about doubled slace
that time, it may be expected, he says,
that the 1920 census will show .ll4es
about double those given.
Numerous letters to the farm III an
agement demonstration from bankers
in all parts of Idaho," says Mr.
Taylor's statement, indicate that the
bankers are to help the farmers of the
state to put their farming BUSINESS OF
paying basis by providing them
with simple and adequate account
ing system. The banks are to obtain
copies of the perfected account books
firm the University of Idaho extension
division for distribution among their
farmer patrons.
This will be the first time in his
tory Of the state that the banks have
united with the university in putting
into used among the farmers OF Idaho |
a uniform accounting system which |
has the Endorsement of the three |
great organizations which are inter-
ested in perfecting the farmers ac-
counting and business methods. |
These are the United States depart
ment of agriculture, the American
Farm Bureau federation and the in
come tax division The same ac-
counting system is being put into use
in practically all the western states
and the New England states and, with
certain notifications, in the states of
the middle west also. The account
book is so constituted that the final
balance for the year is the net farm
income to be reported to the income
tax division, so for the convenience I
OF the farmer and the man who helps /
him make out his income tax report,
a ruling has been passd permitting
the farmer to detatch a duplicate
from this account book and
submit this page to the income tax
collector in place of the old form 1040
F which was SO hard for the farmer
or his banker to fill
Perhaps the greatest benefit which
The farmers will receive will be the
determination of the paying and the
losing factors in their business. The
farm account is the farmers search
light, which, looking back, finds out
where the money goes and whether or
lOt each expenditure returns a profit,
Ind, looking forward, directs the way
% greater farm profits. The bankers,
N turn, will be directly benefited ,,
through the increased prosperity of
heir depositOrs.
Some idea Of the great need for !
arger profits on our farms and of
better business methods to bring them !
about is obtained from study of the
census figures on agriculture. Ac- :
,ording to DR.. w. J. Spillman, form !
rly chief of the United States office
f farm management, the census data :
indicates that the average farm family ,
n 1909 received only 1924 net earn Il
ngs, including the value of the food, !
uel, and house rent obtained for their I
wn use from their farm. This allow
ID the average family only percent Y
III CiCll lhNCSCliSIlC dllU p4UA IOI JIClI &
abor. Similar estimates made by the '
arm management demonstrator of q
he University of Idaho show that for : h
anne year the average farm family a
q Idaho made $741 net earnings c
7hlch allowed them per cent on in d
estment and $48 for their years d
abor. Is it any wonder that the a
lumber of farms in the United States a
as increased only Ia per cent since
hat time? The farms of the United n
tates can not be expected to increase t.
4 number until the net earnings from a
leir operation provide higher stand s.
rd of living for farmers. Farm ac- i.
ounting is powerful way Of bring
1g this about in safe, sane, sensi-
lie, and wholly American manner, and
ne bankers of the state are to be III
for their helpful cooper tt
tiO1 In fho advancement nf q pricn1- A