Rural Wealth and Welfare: Economic Principles Illustrated and Applied in Farm LifeFairchild, Geo. T. (George Thompson)
Science
Rural Wealth and Welfare: Economic Principles Illustrated and Applied in Farm Life
Fairchild, Geo. T. (George Thompson)
Agriculture -- Economic aspects; Economics
We can speak of progress, then, only when these individuals secure a
better use of wealth in some way. It may be by accumulation through saving
from the full years for the empty, as older communities can endure a
drought with little suffering, while pioneers are ruined. It may be by an
increased product for a given exertion, as illustrated by every
labor-saving implement upon the farm or in the factory. It may be by
lessening exertion for a given product, as in the devices of kitchen and
dairy to make tasks lighter. It may be in better distribution of the total
product through readier and fairer exchanges of services or products, as
happens with every improvement in transportation and every means for
fairer understanding in a bargain. Lastly, it may be in more economical
expenditure for common wants, as in maintaining government machinery.
Usually, progress has been marked along several of these lines at once, if
not all of them. There is reason in the statement of Charles Francis Adams
that the last century far exceeds the gain of a thousand years before.
_Production, distribution, consumption._—Full consideration of rural
wealth as related to welfare must first give the principles upon which
wealth is produced, including exchange with all its machinery; for the
marketing of produce is today one of the chief steps in securing wealth by
farming. The thrifty farmer of today is the man of most business tact and
energy, who uses most approved means of raising, handling and marketing
his goods.
It also requires a careful study of principles upon which any product of
exertions, where more than one person has contributed toward the whole,
can be fairly shared between the producers, however they have helped. A
farmer is as thoroughly interested in problems of rent, interest and
profits, if not in wages, as any other worker for wealth or welfare.
It further involves the study of economic uses for wealth, private and
public, since no wealth has found the true reason for its existence till
the uses to which it is put are known. This includes all questions upon
the economic functions of government, the ends to be served, and the
raising and handling of revenues. If any patriots need to know for what,
how and in what measure their country is dependent upon their own
resources, it is the farmers, whose homes make the bulk of the land we
love, whose children furnish the bone and sinew of industry, and whose
interests are most sensitive to misdirected energy in public
administration.
_Security in stable government._—Agriculture, of all industries, can
flourish in that country alone where personal and property rights are
fully understood and respected, where claims are equitably adjusted by a
stable government, and where taxes are properly apportioned and revenues
economically expended.
PART I. PRODUCTIVE INDUSTRIES: ANALYSIS OF AIMS, FORCES, MEANS AND
METHODS.
Chapter I. Aims Of Industry.
Public-domain text, read in full here on John Shaqi.
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