The Fat of the Land: The Story of an American FarmStreeter, John Williams
Science
The Fat of the Land: The Story of an American Farm
Streeter, John Williams
Agriculture
"To additional land and development of plant $20,353.00
To interest on previous investment 4,220.00
Wages 4,662.00
Food for twenty-five people 1,523.00
Food for stock 2,120.00
Taxes and insurance 207.00
Shoeing and repairs 309.00
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"Making in all $33,394.00
spent this year.
"The receipts are:--
"First quarter $1,297.00
Second quarter 1,706.00
Third quarter 3,284.00
Fourth quarter 4,831.00
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"Making $11,118.00
"But we agreed to pay $4000 a year to the farm for our food and shelter,
if it did as well by us as the town house did. Shall we do it, Polly?"
"Why, of course; we've been no end more comfortable here."
"Well, if we don't expect to get something for nothing, I think we
ought to add it. Adding $4000 will make the returns from the farm
$15,118, leaving $18,276 to add to the interest-bearing debt. Last year
this debt was $84,404. Add this year's deficit, and we have $102,680. A
good deal of money, Polly, but I showed you well over $100,000 in
assets,--at our own price, to be sure, but not far wrong."
"Will you ever have to increase the debt?"
"I think not. I believe we shall reduce it a little next year, and each
year thereafter. But, supposing it only pays expenses, how can you put
on as much style on the interest of $100,000 anywhere else as you can
here? It can't be done. When the fruit comes in and this factory is
running full time, it will earn well on toward $25,000 a year, and it
will not cost over $14,000 to run it, interest and all. It won't take
long at that rate to wipe out the interest-bearing debt. You'll be rich,
Polly, before you're ten years older."
"You are rich now, in imagination and expectation, Mr. Headman, but I'll
bank with you for a while longer. But what's the use of charging the
farm with interest when you credit it with our keeping?"
"There isn't much reason in that, Polly. It's about as broad as it is
long. I simply like to keep books in that way. We charge the farm with a
little more than $4000 interest, and we credit it with just $4000 for
our food and shelter. We'll keep on in this way because I like it."
CHAPTER LIII
THE MILK MACHINE
Public-domain text, read in full here on John Shaqi.
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