It is needless to say that the promoter never convinced his friend that he could successfully invest for him a half million dollars along the lines indicated. Nevertheless the corporate plan is not without merit. For example, if a father should incorporate his farm, he could provide for the inheritance of the preferred stock, among the heirs, as he desires. He could give to the son who operates the farm all the common stock, together with what preferred stock he is entitled or the father may desire him to have. The common stock would provide the means by which the income from the farm, which was due to the sons skill and management, might go to him. As time went on the son could acquire additional preferred stock from the father or other heirs, or he could invest his earnings elsewhere, as might seem most expedient. On the death of the parents, the preferred stock would be distributed as inheritance or the will provided without in any way interfering with the continuity of the farm enterprise. If at any time the son desired to discontinue the management of the farm, all he would need to do would be to dispose of his interest in the common stock at whatever he might be able to secure from the man who succeeded to its management. He could sell or retain his preferred stock. Farming is the one remaining great industry that has not been organized so that a single enterprise may have a continuous existence. A corporation never dies, but at least three generations of men occupy the farms of the United States each century. CHAPTER IV OPPORTUNITIES IN AGRICULTURE Some years ago, a prominent magazine contained an article entitled "The American Farmer's Balance Sheet," in which a descendant of the second and sixth Presidents of the United States was shown to have made in one year a profit of over $19,000 from a 6,000-acre wheat farm in North Dakota, and over $50,000 from a 6,000-acre corn farm in Iowa. A few months later there appeared in the same magazine another article, the purport of which was that great wealth, whether it be obtained from farming, the mining of coal, the manufacture of steel or the selling of merchandise, is the exception, while the man, in whatever calling, who rears and educates a family and at the same time lays by a small competence is the normal American product. The moral is that a $500-a-year-income farm is a more important factor to the national welfare than a $50,000-a-year-income farm. In the latter article the writer tells of two brothers who had been reared on a Michigan farm. Reuben was tired of the country. He went to the city and apprenticed himself to a harnessmaker. Against the advice of young friends, Lucien bought sixty acres of land and ran in debt for it.