So far as farmers are concerned, the object of studies of this kind is, first, to play the price game as well as capital and labor; and, second, to co-operate with capital and labor to enforce prices roughly equivalent to cost of production, to the end that supply and demand may operate more smoothly. It is anticipated that greater emphasis on “cost-of-production price” and less emphasis on “supply-and-demand price” will result in gradually replacing most business men with production engineers and statistical economists. Business men have had profit as their sole motive. What we need is production engineers whose chief concern is production methods, and statistical economists who are able to understand the delicate inter-relations of different industries. It is believed that there is in most men a desire to do their work well, and that this desire will find more complete expression, to the benefit of the bulk of the people, under the guidance of men whose supreme motive is not profit but technical understanding and love of the work to be done. All this concerns the farmer, to the extent that when the industrial world shifts to this kind of basis, he may be more certain of a stable price for his products. Substituting production engineers and statistical economists for business men means doing away with the chance of excessive gains and excessive losses. And this is proper so far as production of and trade in staple products is concerned. The only place where the commercial imagination of the old-fashioned risk-taking business men has legitimate place is in working with things which are not staple, such as theaters, luxuries, newspapers, etc. APPENDIX SUGGESTIONS CONCERNING THE TABLES IN THE APPENDIX The man who studies the figures as to receipts, prices, etc., as they unroll day by day and month by month in the great central markets gradually develops market judgment. Of course, there is more in the market than figures, but a thoro understanding of statistical relationships, of normal seasonal trends, etc., is necessary before one can fully appreciate the extraordinary or strategical considerations which are occasionally involved.